snoop1130 Posted April 4, 2022 Share Posted April 4, 2022 BANGKOK (NNT) - The Department of Trade Negotiations (DTN) has called the Regional Comprehensive Economic Partnership (RCEP) a golden opportunity for Thai exporters, service providers and investors to explore regional markets and beyond. RCEP is a free trade agreement encompassing the Asia-Pacific nations of China, Japan, South Korea, Indonesia, Thailand, Vietnam, Singapore, Brunei, Cambodia, Laos, Malaysia, Myanmar, the Philippines, New Zealand and Australia. The 15 member economies account for about 30% of the world’s population, making it the largest trade bloc in human history. The agreement came into force at the beginning of this year. From January to February, Thailand exported US$24 billion worth of products to member territories, accounting for 52.5% of total exports in the two months. Of that figure, $1.16 billion worth of goods were from exporters who utilized the RCEP privileges. Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe According to the DTN, China has been the major trading partner, with plants, vegetables and fruits being the most popular products. DTN Deputy Director-General Chotima Iemsawasdikul said her agency has been educating the public about the agreement from its inception to its implementation. She added that the deal is being embraced by government units, the business sector, SMEs and academics. The deputy director-general noted that RCEP also lowers tariff barriers for exporters while reducing costs and increasing production capacity and competitiveness. Additionally, she said RCEP represents a great pathway to economic recovery in the aftermath of the COVID-19 pandemic. -- © Copyright NNT 2022-04-04 - Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. - Follow ASEAN NOW on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
hotchilli Posted April 5, 2022 Share Posted April 5, 2022 14 hours ago, snoop1130 said: Thailand exported US$24 billion worth of products to member territories, accounting for 52.5% of total exports in the two months. Of that figure, $1.16 billion worth of goods were from exporters who utilized the RCEP privileges. Free trade agreement... So what was the value of imports? 1 Link to comment Share on other sites More sharing options...
Isaan sailor Posted April 5, 2022 Share Posted April 5, 2022 How fortunate to have such a selfless and benevolent trading partner in China… What could possibly go wrong? Link to comment Share on other sites More sharing options...
alien365 Posted April 5, 2022 Share Posted April 5, 2022 I await the price of Australian wine and beer Lao to go down if that's the case.. . Link to comment Share on other sites More sharing options...
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