Asean members are holding to their vow to cut import tariffs on 90% of products, amounting to 5,000-6,000 items under the Regional Comprehensive Economic Partnership (RCEP), over the next 15 years. TPP countries comprise 40% of global trade. "Although the RCEP talks are yet to be completed, all Asean members have reaffirmed the push for tariff reductions covering not fewer than 90% of all products, as well the conclusion of talks late this year," said Mrs Apiradi. In 2016, Thailand's total trade value with RCEP countries amounted to US$240 billion (8.48 trillion baht), accounting for 59.3% of Thailand's total trade value. "Nearly two-thirds plan to expand their business operations in Asean, while 85% are willing to increase regional trade and investment."

Source: Bangkok Post March 13, 2017 23:48 UTC