Thailand optimistic about RCEP’s benefits after India’s withdrawal
Despite the setbacks, the Regional Comprehensive Economic Partnership (RCEP) deal has the potential to dramatically improve economic prospects among its members, said Auramon Supthaweethum, Director-General of the Trade Negotiations Department under the Thai Ministry of Commerce.
Speakers take a group photo with Worachai Bhicharnchitr (fourth right), vice-chairman of Bangkok Post Plc, at the forum on November 21 (Source: )
Bangkok (VNA) - Despite thesetbacks, the Regional Comprehensive Economic Partnership (RCEP) deal has thepotential to dramatically improve economic prospects among its members, said AuramonSupthaweethum, Director-General of the Trade Negotiations Department under theThai Ministry of Commerce.
Speakingat an international forum on tradewars, RCEP and economic trends hosted by Bangkok Post in Bangkok on November 21,Auramon said the RCEP willbe the largest trade deal Thailand has ever joined.
It is a high-quality free trade agreement (FTA) that goes well beyond existingFTAs, and Thailand believes that the RCEP will enhance competitiveness andproductivity while facilitating trade and investment among the trade pact’s membercountries, she stressed.
Auramon said her department will still have to sell the idea to parliament andbusiness stakeholders before the government signs off on the final version,adding that to get relevant parties cooperating, the deal must be balanced,spreading its benefits among stakeholders and providing remediation to theinevitable losers in the FTA.
The RCEP trade deal, which has been undernegotiation for the past six years, saw a major setback when India, one of theRCEP's 16 members, walked out at the last minute of the talks at the 35th ASEANSummit in Bangkok earlier this month.
It is a multilateral trade agreement between the10 member states of ASEAN - Malaysia, Brunei, Cambodia, Indonesia, Laos,Myanmar, the Philippines, Singapore, Thailand and Vietnam - and its partners.It aims to set up a stronger cooperation foundation in the region, focusing ontrade, service, and investment.
Once signed, the deal will create the largestfree trade area in the world with about 3.5 billion people and making up 30percent of the global GDP and 40 percent of the world trade./.
The 35th ASEAN Summit and Related Summits, held in Thailand from November 2-4, had concluded successfully, said Thai Prime Minister Prayut Chan-o-cha at a press conference on November 4 evening.
Leaders of 16 Asia-Pacific countries, including Japan, China, and India, on November 4 issued a joint statement on the postponing of the signing of the Regional Comprehensive Economic Partnership (RCEP) to 2020 instead of 2019 as scheduled.
Nearly 65 percent of the Indonesian market will be opened to partner countries once the Regional Comprehensive Economic Partnership (RCEP) takes effect, the Indonesia-based Antara News quoted an Indonesian official as reporting.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Speakers take a group photo with Worachai Bhicharnchitr (fourth right), vice-chairman of Bangkok Post Plc, at the forum on November 21 (Source: ) 
