Cambodia ranked third among 15 countries in the East Asia Pacific region that can benefit the most in real income terms from the Regional Comprehensive Economic Partnership (RCEP), according to a research paper by the World Bank. Reductions in tariffs, non-tariff measures and trade costs are required to achieve the maximum gains, it said.
The report, titled ‘Estimating the Economic and Distributional Impacts of the Regional Comprehensive Economic Partnership’, said the two countries that stand to gain more than Cambodia are Laos and Thailand.
Vietnam and Malaysia are other countries that are set to benefit from the pact. RCEP was signed in November 2020 and came into force in January this year.