KUALA LUMPUR, Feb 15 — Thai Prime Minister Paetongtarn Shinawatra has reaffirmed Thailand’s commitment to strengthening regional economic integration and enhancing supply chains under Malaysia’s ASEAN chairmanship.
In a written interview with Bernama, Paetongtarn, 38, highlighted the critical role of the Regional Comprehensive Economic Partnership (RCEP) in driving regional growth and fostering deeper economic cooperation among member nations. She expressed Thailand’s full support for Malaysia’s leadership in accelerating the full implementation and effective utilization of the trade pact.
“As the world’s largest free trade agreement, RCEP has significantly boosted trade and investment flows, enhanced market access, and improved supply chain connectivity,” she noted, emphasizing the importance of leveraging the agreement for sustained regional prosperity.
Beyond RCEP, Paetongtarn also backed Malaysia’s initiatives to upgrade other free trade agreements (FTAs) with external partners and advance the ASEAN Digital Economy Framework Agreement. “These efforts will not only complement RCEP but also strengthen intra-ASEAN trade and investment,” she stated.
The Thai leader welcomed the establishment of the RCEP Support Unit (RSU) within the ASEAN Secretariat, expressing optimism that it would become a key mechanism in accelerating the agreement’s full implementation.
RCEP’s Economic Impact
Comprising 15 nations—the 10 ASEAN member states along with Australia, China, Japan, South Korea, and New Zealand—RCEP represents approximately 30% of global GDP and population. Since its signing in 2020, the agreement has significantly boosted economic activity across the region:
- ASEAN trade with RCEP members surged to US$1.9 trillion in 2023, marking a 25% increase from pre-pandemic levels.
- Foreign direct investment (FDI) from RCEP partners reached US$66.3 billion, accounting for 28.9% of total FDI inflows to ASEAN last year.
With Malaysia at the helm, ASEAN is now poised to further deepen economic cooperation, enhance digital trade, and drive investment-led growth, positioning the bloc as a formidable force in the global economy.
