At the Asia Pacific Economic Cooperation Meeting (APEC), held in Singapore, the Director- General of the Foreign Trade Department, Nantawan Sakultanak announced that Thailand and Peru are preparing to sign a Free Trade Area agreement which will eliminate the to 70% tax products from Thailand are currently subject to.
APEC's 21 Pacific Rim countries account for approximately 40% of the world's population, approximately 54% of world GDP and about 44% of world trade.
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