Shining the benefits of RCEP, the opportunity for Thai trade in the world market.

Published 2021년 2월 17일

Tridge summary

The Regional Comprehensive Economic Partnership (RCEP) agreement, expected to be implemented by 2021, will provide benefits for Thai products by opening additional markets and reducing taxation. The agreement will facilitate trade and investment among member countries, including China, South Korea, and Japan. It will also simplify customs clearance processes and create opportunities for e-commerce development, particularly benefiting SMEs. The RCEP is the world's largest free trade agreement, including 15 member countries and covering over 20% of the global population.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Mrs. Oramon Subthawitham Director-General, Department of International Trade Negotiations Revealed the benefits of the Regional Comprehensive Economic Partnership (RCEP) that the RCEP agreement will help expand opportunities and create a handicap for Thai products as 90-92% of Thai exports are not subject to taxation. Imported from RCEP market, especially China, South Korea and Japan, has opened additional markets for Thai products in RCEP such as fishery products, tapioca starch, pineapple juice, coconut water, orange juice, processed food, processed fruits and vegetables. Electrical components, plastics, chemicals, automotive parts, fibers, apparel and paper, etc. It also provides options for using raw materials from 15 RCEP countries to produce and export to RCEP markets with tax benefits. And using the same rules of origin This reduces costs and administrative complexity. In addition, RCEP facilitates trade and investment among members. Due to the regulations and trade ...

Source: Ththansettakij