Thailand’s trade with RCEP members increases last year
Thailand recorded 300 billion USD in trade with other member countries of the Regional Comprehensive Economic Partnership (RCEP) in 2022, up 7.11% year on year, official data showed.
Hanoi (VNA) – Thailand recorded 300 billion USDin tradewith other member countries of the Regional Comprehensive EconomicPartnership (RCEP) in 2022, up 7.11% year onyear, official data showed.
Thai Deputy Minister of Commerce Sinit Lertkrai said since taking effect inJanuary 2022, the RCEP has yielded positive results for the country's tradewith other members.
Thailand'sexports to RCEP members amounted to 140 billion USD last year while its importsfrom the countries totalled 160 billion USD, according to the Commerce Ministry.
Theofficial said the pact has not only provided additional tariff reduction orelimination for Thai businesses but also offered trade facilitation measures tospeed up customs clearance procedures, which is especially beneficial for thetrade of perishable products.
Ithas also provided more options for Thai firms in exporting goods to andimporting goods from RCEP member countries, he added.
TheRCEP comprises 10 members of the Association of Southeast Asian Nations(ASEAN), namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand and Vietnam, together with their five tradingpartners, namely China, Japan, the Republic of Korea, Australia, and NewZealand./.
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Illustrative image (Photo: AFP/VNA) 
