RCEP, G20 and ASEAN Related Meetings Update by Dr. SOK Siphana at the YEAC AGM
On this occasion, Dr.SOK delivered a presentation on the Regional Comprehensive Economic Partnership (RCEP), G20, and ASEAN Related Meetings Update. Furthermore, as a respected thought leader in the region, Dr. Sok provided valuable insights into the impact of these important developments on the future of the industry.
“As entrepreneurs and business leaders, it is critical that we stay informed about these developments and the potential impacts they may have on our businesses and our region. By doing so, we can seize new opportunities, navigate challenges, and ensure the continued growth and success of our enterprises”, Dr. SOK shared.
Dr. Sok Siphana stressed that as RCEP has now entered into force, there are so many potential business opportunities in waiting. The Royal Government has done a great job to negotiate and conclude the agreement but for Cambodia to enjoy the full benefits of RCEP, it takes time to prepare the ground for the private sector to get up to speed with this new FTA. I believe Cambodian SMEs would need to seek specialized assistance from trade specialists to better understand the opportunities presented by RCEP for their business.
The RCEP agreement, which brings together 15 countries in the Asia-Pacific region, is poised to have a major impact on the economic landscape of the region. This agreement represents a historic milestone in regional economic integration, creating a vast market of over 2 billion people and accounting for approximately 30% of global GDP. The agreement promises to enhance economic activity, increase trade and investment flows, and improve business facilitation in the region.
The G20 and ASEAN-related meetings, on the other hand, provide a platform for leaders and experts from around the world to discuss the most pressing issues facing the global economy.
About YEAC Annual General Meeting
YEAC’s Annual General Meeting brings all the members together for the purpose of monitoring the success of the association’s implementation of its plan. Participants will also have the chance to develop relationships and obtain quality business networking referrals at this event.
This year’s meeting took place on 3 February 2023 in Business Development Center in Phnom Penh, Cambodia.