Cambodia is located in the core of the ten ASEAN countries, occupying the transportation hub and guarding the economic stronghold of Southeast Asian. It is an important node of the "21st World Maritime Silk Road" and the only place where the Pan-Asian high-speed rail must pass, creating the center of the 3-hour ASEAN economic circle.
With the official signing of the Regional Comprehensive Economic Partnership (RCEP) in November 2020, Cambodia has established free trade links with 14 countries in the Asia-Pacific region, which has injected a strong impetus to the country's economic development and promote economic recovery in the aftermath of the pandemic. After its official entry into force, Cambodia's Gross Domestic Product (GDP) will grow by another 2 percent annually to 9.3 percent, while Cambodian exports and investments will also increase by 23.4 percent.
The World's First Economic Focus is on the ASEAN ——
l The AEC was launched in 2016, and the 10 ASEAN countries have invited China, Japan, South Korea, Australia, and New Zealand to organize the ASEAN 10+5 Century Vision.
l After the launch of RCEP, which covers more than half of the global population, the ASEAN has become the center of the world economy!
l Moreover, China has proposed the Belt and Road Economic Belt, connecting more than 60 countries in Europe and Asia, and all Southeast Asian countries, making the development of ASEAN rocket upward and become the next big black horse of the global economy!
The Three Major Systems of AEC, RCEP, AIIB Build a Huge Economic Circle ——
AEC
ASEAN Economic Community
Total GDP of about 2.5 trillion dollars (surpassing China and India)
With a population of 625 million, it represents the world's third largest single market after the European Union, and the second largest in the world, and will result in a region-wide tariff-free market.
RCEP
Regional Comprehensive Economic Partnership Agreement
Total GDP of about $23 trillion, or 1/3 of annual global economic output
With a population of 3.5 billion, accounting for half of the world's population, the aim is to cut tariffs and non-tariff barriers to establish a 15-country unified market free trade agreement to enhance China's foreign trade market, increase the political and economic influence of the ASEAN, led by China to fight against the United States.
AIIB
Asian Infrastructure Investment Bank
AIIB is an intergovernmental nature of the Asian region multilateral development institutions, focusing on support for infrastructure, is the first by the Chinese initiative proposed by the multilateral financial institutions, it promotes China's Belt and Road Asian regional connectivity and economic integration process.
