Director of the Trade Negotiation Department of the Ministry of Commerce of Thailand Olamon said in an exclusive interview with Xinhua News Agency recently that since the implementation of the Regional Comprehensive Economic Partnership (RCEP), it has effectively improved the level of trade liberalization and investment facilitation of member countries, strengthened the resilience of supply chains, and effectively promoted economic and trade cooperation among member countries and regional economic integration. RCEP is signed by the ten ASEAN countries and China, Japan, South Korea, Australia and New Zealand. It is a free trade area with the largest global economic volume and development potential. Since its entry into force on January 1 this year, RCEP has continued to support the growth of foreign trade of member countries. According to the data of the Ministry of Commerce of Thailand, in the first nine months of this year, the total import and export value of Thailand and RCEP member countries increased by 10.1% compared with the same period last year. Olamon said that the COVID-19 epidemic continued to impact global trade and investment, and open trade was crucial to economic recovery. It can be said that the RCEP came into effect at a "timely" time. By implementing tariff reduction and exemption, rules of origin accumulation, simplifying customs procedures and providing more transparent and fair trade rules, RCEP has effectively promoted the growth of trade among member countries. "We have seen the member countries fulfill their commitments, strive to improve the level of trade liberalization and facilitation, and strengthen the resilience of the regional supply chain." She said, taking Thailand as an example, the total import and export value between Thailand and RCEP member countries accounted for more than 50% of Thailand's total foreign trade, and the entry into force and implementation of the agreement has significantly boosted the trade between Thailand and member countries. In Olamon's view, the cumulative rules of origin of RCEP are advanced and flexible. As long as the value-added realized in the processing of products belongs to the effective member countries, and the cumulative value-added exceeds 40%, they can enjoy the corresponding tariff preferences. This will help enterprises manage regional supply chains and promote regional economic integration. In the investment field, the market and consumer groups covered by RCEP are very large. Olamon believes that this market dividend will attract more foreign investment for RCEP member countries. Olamon said that as an important participant, China promoted the smooth signing and effective implementation of RCEP, and many facilitation policies implemented by China under the RCEP Agreement promoted the growth of trade among member countries. "RCEP is not closed. More countries and regions have the opportunity to apply to join, and the 'circle of friends' of RCEP is expected to expand," said Olamon. (Liu Xinshe)