Thai Parliament approves Regional Comprehensive Economic Partnership (RCEP)

Commerce Minister Jurin Laksanawisit said RCEP would be the 14th free trade agreement (FTA) of Thailand and would promote Thai trade.

The parliament approved the ratification of the Regional Comprehensive Economic Partnership (RCEP) which was expected to take effect this year, said Deputy Prime Minister and Commerce Minister Jurin Laksanawisit.

RCEP would be the 14th free trade agreement (FTA) of Thailand and would promote Thai trade, he said.

RCEP would be the world’s biggest FTA covering 15 countries with a combined gross domestic product equivalent to one-third of the global GDP.

Besides, the 15 countries had a combined population of 2.2 billion, also one-third of the world population.

Mr Jurin said that with RCEP, Thailand could promote its exports of farm and industrial products, foods, construction services, retail services, health-related services and digital content including movies, entertainment content and animations. (TNA)