Cambodian Commerce Secretary Sok Sopheak hopes to deepen cooperation with partners in RCEP

BOAO, Hainan, March 30 (Guangming Online) -- On the morning of March 29, a session on “Asia-Pacific Regional Cooperation: New Opportunities and Challenges” was convened during the BFA Annual Conference 2023. Sok Sopheak, Secretary of State of the Ministry of Commerce, Royal Government of Cambodia, shared the measures that ASEAN has taken to address the challenges in globalization and emphasized that ASEAN still needs to be vigilant. He pointed out that member countries need to face the challenges of globalization together. 

Sopheak expressed his concern on global challenges and said that Cambodia would like to work together with the keynote speakers and other panelists to address these challenges and embrace the opportunities that lie ahead. These opportunities can be used to develop the regional economy and make its growth more resilient. 

Sopheak said ASEAN has responded quickly to these challenges ahead and hopes to deepen cooperation with partners in RCEP. During the ASEAN Economic Ministers and the Summit meetings, they pushed forward several measures to tackle the issues, including the economic comprehensive recovery covering 188 initiatives. These measures will continue to strengthen economic integration among ASEAN countries in services trade, goods trade, and investment. Furthermore, ASEAN aims to strengthen cooperation and promote regional economic development by enhancing bilateral relationships.  Sopheak emphasized that ASEAN should remain vigilant as numerous challenges and headwinds are ahead. The uncertainties of the global economy have brought many challenges. Although trade within ASEAN has increased by 23%, and trade between ASEAN and Asia has grown at a similar rate due to the region's economic integration and globalization efforts, member countries should work together to face the challenges posed by globalization.