The Thai Ministry of Commerce planned to propose on February 9 to the parliament the ratification of the Regional Comprehensive Economic Partnership (RCEP), the world's biggest free trade deal signed by 15 nations in Asia-Pacific in November 2020.
Bangkok (VNA) – The ThaiMinistry of Commerce planned to propose on Fe🌠bruary 9 to👍 the parliament the ratification of theRegional Comprehensive Economic Partnership (RCEP), the world'sbiggest free trade deal signed by 15 nations in Asia-Pacific in November2020.
If half the RCEP memberstates (at least six ASEAN countries and four non-ASEAN countries) ratify thepact, it will be enforced instantly. Thai Vice Minister ofCommerce Sansern Samalapa said after the parliamentary ratification,Thailand will move to improving domestic laws to be in compliance with the agreement. The local media quotedSamalapa as saying that the deal is expected to come into force this year andwill support open, comprehensive and regulatory trade and investment. It willstrengthen and maintain connectivity to regional production and the supply chain. The pact comprises 20 chapters, which includeprovisions for trade in goods, rules of origin, customs procedures, sanitarymeasures, e-commerce, small business, government procurement and disputesettlement. In 2019, the population of the RCEPsignatories was almost 3.6 billion, or 48.1 percent of the total worldpopulation. The combined GDP of the RCEP members was worth more than 28.5trillion USD, making up 32.7 percent of the world's GDP. Trade between members was valued at 11.2trillion USD over the same period, 29.5 percent of the world trade./.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
In Thailand (Photo: VNA) 
