Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce presided over the opening ceremony of the project ?Matching a loan into the RCEP market? along with Mrs. Mallika Boonmeetrakul Mahasuk, Advisor to the Minister of Commerce, Mr. Boonthee Panichpraphai, Secretary to the Minister of Commerce, Mrs. Oramon Sapthaweetham. Director-General of the Department of International Trade Negotiations, Dr. Rak Worakijpokathorn, Managing Director of Export-Import Bank of Thailand (EXIM Thailand), Mr. Sittikorn Direksoontorn, Director and General Manager Small Industrial Credit Guarantee Corporation (TCG) Mr. Kettiwit Sittisoonthorn, Chairman of Executive Committee Leo Global Logistics Public Company Limited and top executives of the Ministry of Commerce on February 10, 2022 at the room Burachat Chaiyakorn, 4th Floor, Office of the Permanent Secretary, Ministry of Commerce
Mr. Jurin said that this project is one of the policies of the Ministry of Commerce assigned to the Department of International Trade Negotiation. Co-hosted with EXIM Thailand, TCG and other agencies. related To organize a project that has been implemented up to 3 Lot is Lot 1 matching loan financial institutions and restaurants with cooperation from many financial institutions to help breathe in the form of low-interest loans with special conditions and TCG to help achieve the goal, which has been very successful from June 64 – Oct. Oct. ’64 Able to lend to 2,895 restaurants across the country with a credit line of 2,627 million baht because of the lenient cooperation of financial institutions, thus becoming concrete and Lot 2 matched the loan. Financial institutions and SMEs exporting during July 64 – February 28, 65 can lend 611 cases with a credit limit of more than 4,000 million baht. This is the third lot, matching loans between EXIM Thailand and entrepreneurs who will Penetrate the RCEP market, which includes SMEs, community enterprises, startups, and others. Have the opportunity to get loans with special lenient conditions to continue to expand in order to penetrate the RCEP market to bring money into the country further under the cooperation of the Ministry of the private sector and financial institutions
Mr. Jurin added that he was one of the participants with the Ministry of Commerce and the Department of International Trade Negotiations that we hosted. He was the chairman during the economic ministers’ meeting, which had 20 issues to come to a conclusion. Arrived in Thailand, finished 7 stories, 13 stories left, we spent 1 year striving to finally reach a conclusion in all 20 chapters, can be signed. The leaders of 15 countries can sign together. This made the RCEP agreement come into effect on January 1 this year, although some countries have not yet entered into force. because it is in the process of doing within the country and is expected to be effective in all 15 countries asap Considered number one for Thailand, effective from 1 January 2022, RCEP is the largest FTA in the world. It has a combined population of approximately one-third of the world’s population and a GDP of approximately one-third of the world’s GDP. More than half of Thailand’s total trade with the world is traded by Thailand with 14 RCEP countries. Preparing for a concrete market penetration is essential to bring further revenue into the country.
In addition, as soon as the RCEP comes into force, 39,366 goods exported by Thailand to its members will be taxed at zero. and immediately zero to 29,891 entries, which is a huge benefit that we can get. ?Matching a loan into the RCEP market? will be another key This will help make this a reality in the near future. For this loan match, we have to thank EXIM BANK for having very lenient terms. and normal interest in the market is regarding 5.75%, but this project is only 2.75%
per year in the first year, the limit is not more than 50 million baht per person, and most importantly, as soon as the request is received, there will be an answer in 7 working days.
The credit line is over 3,000 million baht for this project and TCG helps to guarantee it. Under the company’s lenient conditions and importantly, it will not be held only today. There will be cables in Bangkok and 4 regions as well to give opportunities for SMEs and startups in the provinces to have the opportunity to access loan sources with more flexibility. And there will be an online system for submitting conditions for more convenience.
The RCEP is Thailand’s 14th free trade agreement (FTA), with a total GDP of $28.5 trillion (33.6% of global GDP) and a total trade value of $10.7 trillion (30.3% of global GDP). World trade) For 2021, Thailand’s trade with RCEP countries totaled $311 billion (57.7% of Thailand’s total trade), with Thailand’s exports to RCEP $146 billion (53.8% of Thailand’s total trade). Thai exports to the world) and Thailand imports from RCEP worth 165 billion USD (61.7% of Thai imports from the world).
For those who are interested, you can ask for details at the RCEP Center, Department of International Trade Negotiation. Ministry of Commerce Call Center Tel. 0 2507 7555 or search for more information at the website www.dtn.go.th
Ministry of Commerce
Department of International Trade Negotiations
February 10, 2022
Source: Department of International Trade Negotiation