RCEP offers Cambodia conducive platform for structural transformation

The Regional Comprehensive Economic Partnership is offering Cambodia a conducive platform for structural economic transformation and diversifying from textile-garment exports, a study by Economic Research Institute for ASEAN and East Asia in Jakarta found.

The Regional Comprehensive Economic Partnership (RCEP) is offering Cambodia a conducive platform for structural economic transformation and diversifying from more concentrated textile and garment exports, according to a study carried out by Jakarta-based Economic Research Institute for ASEAN and East Asia (ERIA).

“RCEP will accelerate global value chain (GVC) effects and regional integration through the simplification of the rules of origin. It will facilitate business activities in GVCs in terms of the movement of goods. Under RCEP, there is an agreement for a single Restrictiveness of Rules of Origin (ROO) framework that could be applied across the 15 member countries in RCEP,” the research paper, titled ‘Potential Impact of RCEP and Structural Transformation in Cambodia’ noted.

“Current studies highlight that the co-sharing rule is less restrictive across other forms of ROO rules and regulations. RCEP allows for a co-sharing rule under the ROO framework,” it said.

In full: https://www.fibre2fashion.com/news/apparel-news/rcep-offers-cambodia-conducive-platform-for-structural-transformation-290982-newsdetails.htm

Related Stories

Latest News