Department of Trade Negotiations: RCEP meeting could lessen tax barriers in ASEAN

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BANGKOK, 26 May 2014 – The fifth Regional Comprehensive Economic Partnership (RCEP) meeting will benefit the tax rate and increase the distribution of goods, the Department of Trade Negotiations deputy director-general Jintana Chaiyawannakarn has said.

The fifth Regional Comprehensive Economic Partnership (RCEP) negotiation round, will be attended by the 10 ASEAN Member States and its Free Trade Agreement Partners (Australia, China, India, Japan, the Republic of Korea and New Zealand)

The meeting, taking place in June in Singapore, aims to reduce any obstacles to trade in goods, services, and investments, as well as to attain cooperation in intellectual property.

She also said that the RCEP will benefit the tax structure and diversified materials as the six negotiating counties are Thailand’s significant trade partners.

Furthermore, the deputy director stated that the free trade negotiation is a channel where the government agencies would like to create bigger opportunities for Thai entrepreneurs in term of goods, services, and investments. The private sector can propose what it needs, as the public sector will bring its topics of discussion to the meeting, which will eventually lead to Thailand’s keener competitiveness in ASEAN.