BUSINESS Thailand sets up RCEP center to facilitate trade

BUSINESS

Thailand sets up RCEP center to facilitate trade

Xinhuanet.com

13:29, March 30, 2021

Photo: Sipa

Thailand's Ministry of Commerce announced Monday the establishment of the Regional Comprehensive Economic Partnership (RCEP) Center to facilitate growth of trade.

At the opening ceremony of the center, Minister of Commerce Jurin Laksanawisit said RCEP member countries are accelerating the ratification procedures of the agreement, which will generate huge development opportunities for Thailand.

The RCEP Center will provide information and assistance about trade and tariff policies among RCEP member countries as well as under other free trade agreements for Thai people and businesses, according to the ministry.

The RCEP groups the 10 members of the Association of Southeast Asian Nations (ASEAN), as well as China, Japan, South Korea, Australia and New Zealand. It is the world's largest free trade zone across a wide assortment of indicators.

Ratifications from at least six ASEAN member countries and three of the other five member countries are needed for the trade deal to take effect. China and Thailand have ratified the agreement.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue