The prime minister is encouraging Thai businesses to leverage the Regional Comprehensive Economic Partnership (RCEP) to increase their opportunities and improve their competitiveness in the global market.
Government spokesman Anucha Burapachaisri said Prime Minister Gen. Prayut Chan-o-cha strives to encourage the use of benefits afforded to Thai businesses under the RCEP agreement. The free trade deal is now implemented by all 15 member economies, which encompasses about 30% of the global population as well as 30% of global GDP.
Anucha elaborated RCEP became fully enforced by member economies after its implementation by the Philippines on June 2, 2015. The agreement is believed to promote trade between Thailand and other member economies, as well as increase marketing opportunities and employment for Thai businesses and the Thai public. The free trade deal is also expected to improve trade convenience for Thai businesses and the economic environment in which Thailand navigates.
The spokesman cited Department of Foreign Trade information pointing to Thailand having reaped benefits worth 97.04 million USD from the RCEP agreement in January this year, from exports to 9 countries. These included Japan, China, South Korea, Australia, Singapore, New Zealand, Malaysia, Vietnam, and Indonesia. Key export products that benefited from RCEP in January 2023 included lubricating oil, cassava chip, canned tuna, and spark plugs.
Anucha added that the government stands ready to facilitate convenience and provide counseling for entrepreneurs seeking to leverage the RCEP deal, so that Thai businesses would be able to optimally utilize RCEP. (NNT)