Thailand's Commerce Minister Jurin Laksanawisit said Thailand will accelerate ratification of the Comprehensive Regional Economic Partnership (RCEP) agreement signed by the countries of the Association of Southeast Asian Nations (ASEAN) and the bloc's five dialogue partners, the local media reported on Tuesday
BANGKOK (Pakistan Point News / Sputnik - 17th November, 2020) Thailand's Commerce Minister Jurin Laksanawisit said Thailand will accelerate ratification of the Comprehensive Regional Economic Partnership (RCEP) agreement signed by the countries of the Association of Southeast Asian Nations (ASEAN) and the bloc's five dialogue partners, the local media reported on Tuesday.
"The government will propose the RCEP pact be endorsed as soon as possible during this parliamentary session [November-February 2021]," Laksanawisit said as cited by the Thailand's Bangkok Post newspaper.
He stressed that political disagreements would not be able to influence the parliament's consideration of this issue, because RCEP would bring many benefits to Thailand.
The commerce minister added that the ratification of the agreement could be completed by 2021.
The deal, creating a free trade area that involves nearly a third of the global economy, was signed Sunday afternoon via teleconference at a ceremony chaired by Vietnam as part of a virtual series of summits of ASEAN leaders and the bloc's dialogue partners, that is known as the ASEAN Week. Vietnam holds the rotating presidency of ASEAN in 2020.
The RCEP agreement, negotiated for eight years, was signed by 10 ASEAN countries - Vietnam, Thailand, Laos, Myanmar, Cambodia, Singapore, Malaysia, Indonesia, the Philippines and Brunei, and five ASEAN dialogue partner states - China, Japan, South Korea , Australia and New Zealand.
