30 May 2023

Dr. SOK Discusses RCEP and Cambodia’s Readiness

Credit Picture: AmCham Cambodia

Dr. SOK Siphana, our Founding Partner, had the immense honor of being the keynote speaker and moderator at the recent “Impacts of RCEP: Legal, Commercial and Practical Implications for Cambodian Businesses” event. 

Dr. SOK’s expertise and vision in the field of international trade provide valuable insights into the implications and benefits of RCEP for Cambodia and the wider region.  

Here are some highlights of Dr. SOK’s speech: 

  • Exploring the Implications of RCEP: 

Dr. SOK shed light on the significance of RCEP, emphasizing its role as a transformative trade agreement that spans Asia-Pacific nations. He discussed the potential positive impact it will have on the regional economy, fostering closer economic integration and enhancing market access for participating countries.  

Dr. SOK noted, “RCEP is an agreement of great importance that has the potential to shape the future of trade in our region, unlocking opportunities for growth and development.” 

  • Unveiling Cambodia’s Readiness: 

Dr. SOK also emphasized Cambodia’s readiness to embrace RCEP and capitalize on the benefits it brings. He acknowledged the government’s commitment to implementing necessary reforms and policies to align with the agreement’s provisions. Cambodia’s strategic geographic location, coupled with its young and dynamic workforce, positions it as an attractive investment destination within the RCEP framework. 

Drawing attention to Cambodia’s key strengths, Dr. SOK highlighted the country’s flourishing manufacturing sector, which serves as a solid foundation for export-oriented industries. He expressed confidence in Cambodia’s ability to capitalize on RCEP’s market access opportunities and enhance trade flows. Dr. SOK stated, “With its competitive manufacturing base and the preferential trade terms offered by RCEP, Cambodia is well-positioned to attract investments and expand its export market reach.” 

  • Navigating the Path to a Prosperous Future: 

Dr. SOK’s expertise and visionary guidance play a pivotal role in steering Cambodia toward a prosperous future within the RCEP framework. He highlighted the importance of fostering a business-friendly environment, promoting innovation and technology adoption, and investing in human capital development. Dr. SOK further noted, “By leveraging the potential of RCEP, Cambodia can explore new avenues for economic growth, create employment opportunities, and enhance the standard of living for its people.” 

Read the FULL SPEECH of Dr. SOK

 About the “Impacts of RCEP: Legal, Commercial and Practical Implications for Cambodian Businesses” event: 

The event was hosted by AmCham with the Asian Vision Institute on 24 May 2023 at Sofitel Phnom Penh Phokeethra.  

It aimed to discuss how Cambodian small and medium-sized companies can strategize their course of action through the maze of the latest RCEP trade and investment rules and capitalize on new market access and other business opportunities arising from this mega free-trade agreement. 

The featured speakers included:  

  • H.E. Sokheng Sim, Secretary of State of Ministry of Commerce 
  • Mr. Devin Barta, President of AmCham Cambodia 
  • Ms. Vanseka Sok, Managing Partner of Sethalay Law Office 
  • Mr. Ruwan Hulugalle, Head of Corporate and Banking Department and Legal Advisor of BNG Legal