Emerging Markets
ASEAN Countries - A Global Focus
Center of ASEAN Countries
The Association of Southeast Asian Nations is an organization made up of a group of member states, known as ASEAN. The organization's goal is to promote stability and economic growth across these nations. Across all nations of ASEAN, there is a population of over 622 million people. It has one of the world's largest labor forces, falling only behind India and China. The entire region stretches across over 1.7 million square miles. ASEAN's aggregate economy is one of the fastest growing in the world.
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With extensive connections and experience within the ASEAN region, RREIT is able to bring together real estate projects to the benefits of RREIT holders.
Rapid GDP Growth
One of ASEAN's countries, Cambodia accomplished in 10 years of development where others could take 30 years, thus earned the reputation of
“New Tiger Economy of Asia”.
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Cambodia’s GDP growth rate stayed ~7% in 9 consecutive years. The average growth rate is 7.7% in the past 20 years. It is one of the fastest growing economies in the world. Whereas ASEAN averaged an annual GDP growth rate of 4.4% between 2011 and 2020, ASEAN’s aggregate economic size was about US$3 trillion in 2020. If considered as a single entity, ASEAN is the third largest economy in Asia.
Cambodia tops COVID recovery index
Cambodia’s economic recovery is highly recognized among the world, ranking first in Nikkei Covid-19 Recovery Index.
RCEP Effective in 2022
The Regional Comprehensive Economic Partnership (RCEP), a free trade agreement (FTA) between the ten member states of ASEAN and its five FTA partners (Australia, China, Japan, New Zealand and Republic of Korea).
Key developments that are expected from the implementation of the RCEP include further liberalization of trade, removal of non-tariff trade barriers and increased trade facilitation, removal of barrier to services sectors, as well as overall enhanced business environment through regulations relating to intellectual property protection, government procurement practices, e-commerce and more.
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