Thailand seeks Indian support for adoption of regional trade deal
Thailand is looking for India’s support in settling talks and concluding the Regional Comprehensive Economic Partnership (RCEP) by the end of this year, according to Acting Commerce Minister Chutima Bunyapraphasara.
Acting Commerce Minister Chutima Bunyapraphasara (Source: Bangkok Post)
Bangkok (VNA) – Thailand is lookingfor India’s support in settling talks and concluding the Regional ComprehensiveEconomic Partnership (RCEP) by the end of this year, according to Acting CommerceMinister Chutima Bunyapraphasara.
At the fourth India-ASEAN Expo and Summit,scheduled for New Delhi on February 22-23, Chutima Bunyapraphasara will holdtalks with Indonesian Minister of Trade Enggartiasto Lukita, ASEANSecretary-General Paduka Lim Jock Hoi, and Indian Minister of Commerce andIndustry Suresh Prabhu to discuss Indian support to conclude the RCEP thisyear.
The discussions will focus on a backlog ofissues, including the market access package on the exchange of goods andservice items.
Other issues on the agenda are trade obstacles,the rule on origins, e-commerce, and intellectual trade competition.
The RCEP was launched in November 2012 with theaim of establishing deeper economic cooperation between the 10 members of ASEANand Australia, China, India, Japan, New Zealand and the Republic of Korea,focusing on trade in goods, services and investment.
If signed, the agreement will create an economicbloc with a combined population of 3.5 billion and account for 30 percent ofthe global trade.-VNA
India’s Minister of External Affairs Sushma Swaraj and her Thai counterpart held talks on January 4 in Bangkok, Thailand to discuss connectivity, security and cultural cooperation to keep up with the growing momentum of bilateral ties.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Acting Commerce Minister Chutima Bunyapraphasara (Source: Bangkok Post)
