The Commerce Ministry is scheduled to propose to parliament on Tuesday the ratification of the Regional Comprehensive Economic Partnership (RCEP) trade pact, the world’s biggest free trade deal, signed by 15 nations in Asia-Pacific including Thailand last November.
Sansern Samalapa, commerce vice-minister, said the ministry expects the pact to sail through parliamentary ratification.
Under the parliamentary ratification process, if half the RCEP member states (at least six Asean countries and four non-Asean countries) ratify the pact, it will be enforced instantly.
According to Mr Sansern, after the parliamentary ratification, Thailand will move to improving domestic laws to be in compliance with the agreement.
“The RCEP agreement is expected to come into force this year and will support open, comprehensive and regulatory trade and investment,” he said.
“It will…
