Thailand considers joining CPTPP, RCEP
Thailand must join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a newly formed bloc of 11 nations in Asia-Pacific without the US, and the Regional Comprehensive Economic Partnership (RCEP), Thai Deputy Prime Minister Somkid Jatusripitak said on March 22.
A street of Bangkok, Thailand. (Source: VNA)Bangkok (VNA) - Thailand must join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a newly formed bloc of 11 nations in Asia-Pacific without the US, and the Regional Comprehensive Economic Partnership (RCEP), Thai Deputy Prime Minister Somkid Jatusripitak said on March 22.
If Thailand does not take part in the CPTPP, the country will lose trade and investment opportunities, Somkid said, adding that Vietnam is a bloc member poised to reap the benefits.
The Commerce Ministry is conducting a study of what Thailand will gain and lose under the trade deal, he said.
Commerce Minister Sontirat Sontijirawong earlier this month said the government would call a joint meeting with all stakeholders before determining Thailand's stance towards the CPTPP.
The CPTPP was officially inked at a ceremony chaired by Chilean President Micelle Bachelet in Santiago de Chile on March 8.
Trade ministers of 11 countries participating in the trade pact, namely Australia, Brunei, Canada, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam, attended the event.
The Thailand Development Research Institute earlier estimated that joining the RCEP would boost Thailand's GDP growth by 4.03 percentage points, while local vegetables, processed fruits and food, and electronics appliances would benefit from the deal.-VNA
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