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Jurin to attend RCEP in a bid to form world’s biggest trading bloc

Jurin to attend RCEP in a bid to form world’s biggest trading bloc

13 Sept 14:10 Key points summarised by AI
  • Thailand's Deputy Prime Minister and Commerce Minister Jurin Laksanawisit will attend the RCEP ministerial conference in Beijing, aiming to finalize the formation of the world's largest trade bloc.
  • The Regional Comprehensive Economic Partnership (RCEP) seeks to unite 10 ASEAN members with six Asia-Pacific countries, creating a massive economic partnership representing 32.3% of global GDP and 48% of the world's population.
  • Despite its potential to enhance Thailand's position in global supply chains, RCEP negotiations face hurdles, including unresolved issues on market access and rules of origin, with India expressing significant concerns.
  • Local industries and civil society in Thailand voice concerns about increased competition, equitable benefit distribution, and potential adverse impacts on farmers and local communities from the RCEP agreement.
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