The RCEP Agreement was signed online this week
admin 9-11-2020, 23:38

According to the Bangkok Post, Trade Minister Jurin Laksanawisit on behalf of Thailand signed the Regional Comprehensive Economic Partnership (RCEP) at the 37th ASEAN Summit under the chair of Vietnam.

The RCEP Agreement was signed online this week

RCEP 2019 Conference. Photo: CNBC.

The remote conference of ASEAN and its dialogue partners is expected to last from November 9 to November 15.

Prime Minister of Thailand, Mr. Prayut Chan-o-cha will attend high-level conferences, including the Mekong-Japan Summit, Mekong-ROK and RCEP, from November 12 to November 15.

Prime Minister of Thailand, Mr. Prayut Chan-o-cha will attend high-level conferences, including the Mekong-Japan Summit, Mekong-ROK and RCEP, from November 12 to November 15.

When asked about the bloc’s stance on India, Usana said ASEAN would open the door to India when it was ready.

When asked about the bloc’s stance on India, Usana said ASEAN would open the door to India when it was ready.

“The ASEAN bloc wants to call for peace to ensure that the investment of resources is focused on overcoming the consequences of catastrophic outbreaks,” Usana said.

Ms. Usana said ASEAN will also discuss how the Covid-19 fund proposed by General Prayut during the Special ASEAN Summit in April. Thailand has contributed USD 100,000 (3.1 million baht) to funds.

The total GDP of the RCEP member countries is worth more than 28,500 billion USD, accounting for 32.7% of global GDP. Trade volume of the members is 11,200 billion USD, about 29.5% of world trade.

For Vietnam, RCEP is assessed to help businesses not only access large consumer markets, double the size of the GDP than CPTPP, but also access raw materials, serving the production chain of strong products.

Accordingly, Vietnam can import electronic chips from Japan and Korea; import textile materials from China, then produce domestically and export to other countries, and at the same time satisfy the rules of origin within the bloc to take advantage of tariff preferences.

Source: ndh.vn – Translated by fintel.vn

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