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./.