The vice executive president of the Lao National Chamber of Commerce and Industry (LNCCI) Daovone Phachanthavong said that the Regional Comprehensive Economic Partnership (RCEP) agreement could bring great economic development opportunities to the region, and the agreement is very beneficial for Laos.

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.