Vietnam emerged as the top destination for Cambodian exports within the Regional Comprehensive Economic Partnership (RCEP), with shipments worth $1.25 billion, followed by Thailand with $958 million, and China with $328 million.

Cambodia experienced a 16% growth in its exports to RCEP countries during the first quarter of 2023, amounting to a total value of $2.89 billion, according to recent data from the Ministry of Commerce. This figure represents a significant increase compared to the same period last year.

On the other hand, China remained the largest source of imported goods for Cambodia, accounting for $2.53 billion, while Vietnam and Thailand closely followed with imports valued at $957 million and $440 million, respectively.

The RCEP, a free trade agreement, officially came into effect on January 1, 2022. It comprises 15 countries in the Asia-Pacific region, including the 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam), as well as their five trading partners: China, Japan, South Korea, Australia, and New Zealand.

Over the next 20 years, the mega-regional pact aims to eliminate up to 90% of tariffs on goods traded among its signatories. As the world's largest trade bloc, the RCEP possesses a combined GDP of $26.2 trillion, equivalent to approximately 30% of global GDP, 28% of global trade, and 32.5% of global investment

During the first quarter, Cambodia's trade with RCEP countries accounted for 19% of the nation's total trade. In 2022, Cambodia's exports to RCEP countries reached $6.34 billion, reflecting a year-on-year increase of 7%, as reported by the Ministry of Commerce. Furthermore, RCEP accounted for nearly 60% of Cambodia's international trade, amounting to $52 billion in the same year.