Phnom Penh (FN), Apr. 2 – Speaking on Tuesday morning (Apr. 2) during the opening of Cambodia-ASEAN Business Summit 2024, Cambodian Prime Minister Hun Manet highlighted that ASEAN has become the world’s fifth-largest economy, and consistently demonstrated economic resilience in the face of uncertainty.

“ASEAN has become the world’s fifth-largest economy, and consistently demonstrated economic resilience in the face of uncertainty. According to AMRO, projected growth rates of 4.3 percent in 2023 and 4.9 percent in 2024 underscore the region’s strength and adaptability,” the premier underscored.

Samdech Thipadei pointed out that ASEAN’s evolution since its inception in 1967 is a model for regional collaboration and sustained economic ascension. Now, as a ten-member bloc, ASEAN has solidified its position as a global economic force underpinned by robust growth, dynamic workforce, and progressive integration efforts.

On the occasion, Samdech Thipadei continued that ASEAN economy follows a model of growth for all and has a high potential to be the epicentre of growth for not just ASEAN itself but also other regions around the world. The ASEAN economy derives its strength from a dynamic interplay of intra-regional trade and investment, complemented by strategic collaboration with Dialogue Partners.

Premier Hun Manet added that this multifaceted approach fosters a resilient economic environment, characterized by stability and predictability, which is essential for sustained growth. ASEAN’s free trade agreements with major economies like Australia, New Zealand, China, Japan, India, and Korea showcase its successful navigation of the economic partnership landscape. Furthermore, the RCEP’s ratification underscores ASEAN’s unwavering commitment to fostering deeper regional integration and mutually beneficial economic ties.
=FRESH NEWS