Deputy Prime Minister Somkid Jatusripitak (Photo: bangkokpost.com)
Bangkok (VNA) – Thai media on February 9 quoted Deputy PrimeMinister Somkid Jatusripitak as saying that he had ordered the CommerceMinistry to submit a request to become a member of the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP).
Speaking at a meeting with the ministry’s senior officials on the matter,Somkid he also requested trade negotiators to push for the conclusion of theRegional Comprehensive Economic Partnership (RCEP) this year.
"The government's clear stance on the CPTPP and the RCEP will helpboost trade and investment sentiment," Somkid said. "Despite thetransition period before the next government is formed, continuous efforts bythe current government to build up investor confidence are still a must."
Acting Commerce Minister Chutima Bunyapraphasara said the ministry will call ameeting of a working group on the CPTPP this month to consider a study of thebenefits and impacts of joining the new bloc.
A conclusion of all the pros and cons will be submitted to the cabinet forconsideration in March, he said.
Negotiations on the CPTPP were concluded in January last year between 11countries namely Singapore, Brunei, Malaysia, Vietnam, Australia, Mexico,Canada, Peru, Chile, Japan and New Zealand.
It replaced the Trans-Pacific Partnership (TPP), a similar deal that includedthe US until the Trump administration decided to withdraw.
In 2017, the 11 CPTPP countries' GDP made up 10.5 trillion USD, or 13.3percent of the world's GDP. They have a combined population of 498 million or6.7 percent of the world's total.
The trade pact came into force on December 30, 2018, after seven signatorymembers including Mexico, Japan, Singapore, New Zealand, Canada, Australia andVietnam ratified it.-VNA
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