RCEP brings new economic opportunities to region: Lao business leader

RCEP, taking effect on Jan 1, 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.

The entry into force of RCEP has provided Laos with the best cooperation opportunities in terms of personnel exchanges and business exchanges, and deepened the interconnection between Laos and other ASEAN member countries.

Daovone said, "RCEP and the Laos-China Railway can effectively reduce the cost of commodity trade. It will help support our economic growth by stimulating new investment and providing greater market access for Lao products. More and more commodities from Laos can be exported to other ASEAN countries."

Daovone has been engaged in the business of logistics and trade with Chinese companies since 2002 and his business has expanded to more than 10 industries so far.