Thailand fosters enforcement of RCEP to enter global market

The Thai Government’s spokesperson Anucha Burapachaisri said Prime Minister Prayut Chan-o-cha is promoting the enforcement of the Regional Comprehensive Economic Partnership (RCEP) agreement to create opportunities for Thai entrepreneurs to penetrate the global market.

The RCEP will help Thailand expand trade with other members and increase marketing and employment opportunities for entrepreneurs and citizens of Thailand, he said, adding that the agreement will also facilitate trading and boost the efficiency of economic ecosystem development.

Anucha cited data from the Department of Foreign Trade as saying that Thailand earned 97.04 million USD from exports to nine RCEP member countries, namely Japan, China, the Republic of Korea, Australia, Singapore, New Zealand, Malaysia, Indonesia and Vietnam in January, up 1,039% year-on-year.

The government is ready to facilitate and give advice on using privileges under the RCEP to ensure maximum benefits to Thai entrepreneurs, he said.

The official also expressed his belief that the government's efforts will help Thai exports to access more markets.

The RCEP is a free trade agreement (FTA) between ten member states of the Association of Southeast Asian Nations (ASEAN), namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, and its five FTA partners - Australia, China, Japan, New Zealand and Republic of Korea. It covers nearly a third of the world’s population and about 30% of its gross domestic product./.

Source: Vietnam Plus