President of the Cambodian-based Asian Vision Institute (AVI) Chheang Vannarith (Photo: VNA) Phnom Penh (VNA) – Although the COVID-19 pandemic has interruptedthe global supply chain and hurt regional economies, it may become a driving force forthe signing of the Regional Comprehensive Economic Partnership (RCEP), said ChheangVannarith, President of the Cambodian-based Asian Vision Institute (AVI).
During an interview with the Vietnam News Agency's correspondents in Phnom Penh on November10, the expert said the ravaging pandemic has forced countries to furtherintegrate and connect their economies with others for quick recovery.
He noted that the trade agreement could lead to acomprehensive change in the flow of trade and investment in Asia-Pacific, promoteintra-bloc supply chains and bolster trust in the regional business sector.
Vannarith said that Cambodia always supports the RCEP’s buildingprocess coordinated and promoted by Vietnam, adding that Cambodia stands readyto sign the agreement at the 37th ASEAN Summit hosted by Vietnam.
The signing of RCEP also sends a clear sign that Asian economies arenot for unilateralism and trade protectionism, he affirmed.
RCEP was initiated in November 2012, aiming to establish aneconomic platform between the 10 ASEAN member states and Australia, China,Japan, New Zealand and the Republic of Korea, focusing on trade in goods,services and investment.
If signed, RCEP would become the largest freetrade agreement in the world, covering about 30 percent of the world’spopulation while contributing nearly one third (29.3 percent) of the world’s gross domestic product./.
