Thailand optimistic about RCEP’s benefits after India’s withdrawal
Despite the setbacks, the Regional Comprehensive Economic Partnership (RCEP) deal has the potential to dramatically improve economic prospects among its members, said Auramon Supthaweethum, Director-General of the Trade Negotiations Department under the Thai Ministry of Commerce.
Speakers take a group photo with Worachai Bhicharnchitr (fourth right), vice-chairman of Bangkok Post Plc, at the forum on November 21 (Source: )
Bangkok (VNA) - Despite thesetbacks, the Regional Comprehensive Economic Partnership (RCEP) deal has thepotential to dramatically improve economic prospects among its members, said AuramonSupthaweethum, Director-General of the Trade Negotiations Department under theThai Ministry of Commerce.
Speakingat an international forum on tradewars, RCEP and economic trends hosted by Bangkok Post in Bangkok on November 21,Auramon said the RCEP willbe the largest trade deal Thailand has ever joined.
It is a high-quality free trade agreement (FTA) that goes well beyond existingFTAs, and Thailand believes that the RCEP will enhance competitiveness andproductivity while facilitating trade and investment among the trade pact’s membercountries, she stressed.
Auramon said her department will still have to sell the idea to parliament andbusiness stakeholders before the government signs off on the final version,adding that to get relevant parties cooperating, the deal must be balanced,spreading its benefits among stakeholders and providing remediation to theinevitable losers in the FTA.
The RCEP trade deal, which has been undernegotiation for the past six years, saw a major setback when India, one of theRCEP's 16 members, walked out at the last minute of the talks at the 35th ASEANSummit in Bangkok earlier this month.
It is a multilateral trade agreement between the10 member states of ASEAN - Malaysia, Brunei, Cambodia, Indonesia, Laos,Myanmar, the Philippines, Singapore, Thailand and Vietnam - and its partners.It aims to set up a stronger cooperation foundation in the region, focusing ontrade, service, and investment.
Once signed, the deal will create the largestfree trade area in the world with about 3.5 billion people and making up 30percent of the global GDP and 40 percent of the world trade./.
The 35th ASEAN Summit and Related Summits, held in Thailand from November 2-4, had concluded successfully, said Thai Prime Minister Prayut Chan-o-cha at a press conference on November 4 evening.
Leaders of 16 Asia-Pacific countries, including Japan, China, and India, on November 4 issued a joint statement on the postponing of the signing of the Regional Comprehensive Economic Partnership (RCEP) to 2020 instead of 2019 as scheduled.
Nearly 65 percent of the Indonesian market will be opened to partner countries once the Regional Comprehensive Economic Partnership (RCEP) takes effect, the Indonesia-based Antara News quoted an Indonesian official as reporting.
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Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
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.
Speakers take a group photo with Worachai Bhicharnchitr (fourth right), vice-chairman of Bangkok Post Plc, at the forum on November 21 (Source: ) 
