Thailand sets up center for RCEP trade pact

Thailand is gearing up for what would become the world's largest free-trade deal. The country's government has established a center for the Regional Comprehensive Economic Partnership.

The center, which opened near Bangkok on Monday, is aimed at providing information and assistance on trade among RCEP members.
The Thai parliament ratified the treaty last month.
The government is now working with related ministries on legal processes in accordance with the agreement.

Thai Commerce Minister Jurin Laksanawisit said, "We expect to see domestic procedures wrap up soon because we want to see the RCEP come into force quickly."

Fifteen Asia-Pacific countries, including Japan, South Korea and ASEAN members, signed the RCEP deal last year.

China has ratified the agreement. Thailand and China are aiming to bring the treaty into force in January of 2022.
The other signatories are proceeding with the ratification process.

Once the RCEP comes into effect, it will represent a market of 2.2 billion people and about 30 percent of the global GDP.