RCEP brings new economic opportunities to region: Lao business leader

"After the agreement takes effect, it can reduce intra-regional trade costs and transportation prices. The cost of our export products is much lower than before," said Daovone.

"RCEP can also bring more employment channels to the people in the region."

Laos-China Railway has transformed Laos from a land-locked country into a land-linked country, through which the country has achieved interconnection with China, Thailand, Cambodia, Vietnam and other countries, said Daovone.

Meanwhile, RCEP, covering nearly a third of the world's population and gross domestic product, is a mega trade pact that aims to break down trade barriers and promote investment.

"I believe that the ASEAN economy will definitely have better development in the future," said Daovone.