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Thailand mulls over CPTPP participation

Thai cabinet is expected to make a decision by April or May on whether Thailand will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Thailand mulls over CPTPP participation ảnh 1Illustrative image (Photo: The Straits Times)
Bangkok (VNA) – Thai cabinetis expected to make a decision by April or May on whether Thailand will jointhe Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP).

Local media quoted Thai Deputy PrimeMinister Somkid Jatusripitak as saying that the Commerce Ministry’s TradeNegotiations Department will prepare a proposal once a study on the pros andcons of the CPTPP impact is complete.

The study by Bolliger & CompanyThailand, which was hired by the department, found participation in the CPTPPwould boost Thailand's GDP by 0.12 percentage points in revenue a year.

Somkid said if the Thai cabinet approvesthe proposal by the ministry, Thailand will submit a formal request to join thepact, possibly sometime ahead of CPTPP members’ meeting in August.

The CPTPP is a trade agreement betweenAustralia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,Singapore and Vietnam.

The Thai Deputy PM said the International EconomicPolicy Committee has assigned trade negotiators to accelerate a free tradeagreement (FTA) with the European Union (EU).

The department has been speeding up studiesof opportunities and challenges in reviving long-delayed trade talks between Thailandand the EU after the European Council made a statement that it aims to resumeFTA negotiations with Thailand.

The EU is Thailand's fourth-largest tradingpartner in the world and forms the fourth largest investment segmentdomestically./.
VNA
#Comprehensive and Progressive Agreement for Trans-Pacific Partnership #Vietnamplus #Vietnam News Agency #CPTPP #Thai Deputy Prime Minister Somkid Jatusripitak Thailand
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