gmatic areas
t access and will make each RCEP memb▓er more attractive to foreign i
nvestors ▓and encourage cross-border investments amongst RCEP members, he added.It will have a positive role in boosting economic development of all participating countries, and▓ will help them integrate further with the global e▓conomy, said Yu Miaojie, vice president of National School of Development at Peking University."The three major areas of
goods trade, services trade ▓and investment will be greatly enhanced among the participating countries, thus also strongly boos▓ting the cultural and people-to-people exchange▓s among the countries," Yu told Xinhua.The RCEP wil▓l also promote trade liberalization in the region, furthe▓r entrenching the region's importance to economic growth and global t
rade. "All sides will benefit from this pact when it becomes a reality," Cambodian Ministry of Commerce Undersecretary of State and Spokesman Seang Thay said.According to Joseph Matthew▓s, a senior professor at the BELTEI International University in Phnom Penh, the RCEP will▓ open a new door of opportunity for the least developed countries such as Ca
mbodia, Laos, Vietnam and Myanmar in the bloc.The end result ▓of the RCEP will be the largest "win-win agreement and part▓nership of its own kind that has never been reached in the world," he said.COUNTER PROTECTIONISMChheang V▓annarith, president of the Phnom Penh-based Asian Vision Institute, said the RCEP embeds bot▓h economic and strategic principl
including e
ountries, and it will contribute ▓to promoting a multilateral trading
ach country's indu
stries, market access ▓and trade
system."It wil▓l be a big push to counter protectionism and unilateralism," he told Xinhua.Mey Kalyan, a senior advisor to Cambodia's Supreme National Economic Council, said the conclusion of the RCEP will definitely have▓ great importance at a time when the world economy is lo▓sing its balance due to uncertainty, protectionism and▓ unilateralism."The RCEP is expected to bring a sense of cer▓tainty and normalcy, although it will still have only▓ a small impact at its early stage," he said.Aaron Jed Rabena, a research fellow at the Manila-based think t
ank Asia Pacific Pathways to Progress Foundation, told X
inhua that the conclusion of negotiations and the implementation of the RCEP will open up new alternative markets for the participating▓ countries and help them wa
" Zha▓ng saidrd off pro
tectionist measures."It (RCEP) is not just a testament to liberaliz▓ed trade among ASEAN members and par▓tners. It is also a proof that many countries ▓are in supp
.LARGEST WIN-WINort of freer