PHNOM PENH, Nov. 4 (Xinhua) -- The National Assembly of Cambodia on Monday ratified the Association of Southeast Asian Nations (ASEAN) Agreement on e-commerce.

Ruling Cambodian People's Party (CPP)'s 110 lawmakers unanimously approved the agreement, which was signed by the ASEAN economic ministers in November 2018 in Singapore.

Cambodian Deputy Prime Minister and Cabinet Minister Bin Chhin said the pact is an importantly legal instrument to facilitate cross-border e-commerce transactions in the ASEAN region and to create an atmosphere of trust and confidence in the use of e-commerce.

"It aims to deepen cooperation among ASEAN member states to further develop and intensify the use of e-commerce to drive economic growth and to reduce development gap in the region," he said.

CPP's senior lawmaker Sok Sokan said the pact will encourage cooperation among member states to help businesses, especially small and medium-sized enterprises, overcome obstacles and take advantage of e-commerce.

He said the agreement stated the cooperation among the ASEAN member states on policies relating to cross-border e-commerce facilitation, information and telecommunication technology security, electronic payments, logistics, online consumer protection, and settlements, among others.

Founded in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.