RCEP Minister confident that RCEP will help recover the economy after Covid-19

Oramon Sapthaweetham Director General of the Department of International Trade Negotiations reveal that Mr Jurin Laksanawisit, Deputy Prime Minister and Minister of Trade has assigned the Department of International Trade Negotiations to participate inThe 1st Ministerial Meeting of the Regional Comprehensive Economic Partnership (RCEP) was held on 17 September in Siem Reap Province. Kingdom of Cambodia which is considered a meetingRCEP First Ministerial Level After the agreement entered into force with 13 RCEP members, namely Brunei, Cambodia, Lao PDR, Myanmar, Malaysia, Singapore, Thailand, Vietnam, China, South Korea, Japan, Australia and New Zealand.

Ms Oramon said the meeting was pleased with the entry into force of the RCEP agreement on January 1, marking 10 years since the start of negotiations was announced in 2012 in that year. Cambodia is the chair of ASEAN. Until this year’s first RCEP ministerial meeting, Cambodia’s agenda as ASEAN chair again. that the meeting can Urges two other member countries, the Philippines and Indonesia, to confirm that the RCEP will come into force in all 15 countries. Most recently, the Indonesian parliament has approved the ratification. and the rest of the internal processes are underway. before presenting the instrument of ratification to the ASEAN Secretariat

RCEP ministers agreed that the RCEP deal would help restore member states’ economies after the coronavirus pandemic. by connecting the network and production chains in the region Therefore, Member States have pushed for full use of trade benefits from the RCEP through training seminars. and other supporting activities to spread knowledge, understand, use RCEP for the private sector, entrepreneurs and small and medium businesses

In addition, it has also monitored and reviewed the operations of each country in accordance with its obligations under the agreement. RCEP as well as budget allocation and speeding up the discussion on economic and academic cooperation activities. support and promote the improvement of the business environment to facilitate trade. and investment within the region RCEP give more

However, after the agreement is effective until July 2022 Thailand exports worth $91,109.2 million to RCEP member countries, accounting for 52.7% of Thailand’s total exports, expanding by 8.4% compared to the same period the previous year. And during the first half of the year (January – June 2022), Thai entrepreneurs have exercised their RCEP rights to export to member countries worth more than 429.34 million dollars, with the largest exports to South Korea, and then China, Japan, Australia, Singapore, Malaysia and New Zealand. For products requiring the highest RCEP rights, such as canned tuna spreads, fresh durian, cassava strips and airbags with an inflation system

Proofread…Sure Silawong

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