RCEP ratification by South Korea opens opportunities for Thai exporters

The move will allow Thai exporters to enjoy the benefits of a free-trade agreement when they export to South Korea, Pitak said.

He said the department has expanded its system for certifying the country of origin of Thai goods for export to South Korea. They include verifying the country of origin, issuing an RCEP Form of the country of origin, and a system for licensed exporters to register and issue self-certifications.

The expanded system would allow Thai exporters to enjoy RCEP tax benefits immediately when they export to South Korea, Pitak said.

Pitak added that Malaysia’s ratification of RCEP agreement will take effect on March 18 and the department is expanding its system to cover this country as well.

Apart from South Korea, the RCEP agreement has taken effect for 10 countries, which are: Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, Australia, China, Japan, and…