GLOBALink | RCEP a New Year gift for regional, global economy: Cambodian business people

Businesspeople in Cambodia said the Regional Comprehensive Economic Partnership (RCEP) free trade agreement, which entered into force on Jan. 1, is a huge New Year gift for the regional and global economy.

RCEP groups 10 ASEAN members namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, as well as Australia, China, Japan, New Zealand, and South Korea.

Collectively covering about one-third of the world's population and making up 30 percent of the global economy, the deal offers opportunities for regional countries to defend multilateralism, trade liberalization and promote economic cooperation.

Produced by Xinhua Global Service