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Japan praises Thailand as being investment friendly

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Japan praises Thailand as being investment friendly

Na-ark Rojanasuvan

 

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BANGKOK (NNT) - According to the Special Advisor to the Prime Minister of Japan, the land of the rising Sun continues to view Thailand as an investment-friendly economy.

 

Special Advisor to the Prime Minister of Japan, Hiroto Izumi made the comment during his meeting with the Thai Deputy Prime Minister for economic affairs Dr. Somkid Jatusripitak, discussing bilateral cooperation between the two great nations.

 

Izumi further stated that the collaboration between Thailand and Japan related to the ASEAN Economic Community is proceeding well, with plans for the future being aligned such as the Southern and Northeastern Economic Corridor projects, as well as cooperation on organic agriculture.

 

Dr. Somkid welcomed Japanese investment in the ASEAN bloc, and asked Japan to provide assistance in Thailand’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

 

The CPTPP is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. It evolved from the Trans-Pacific Partnership, which never came into force due to the withdrawal of the United States.

 

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-- © Copyright NNT 2020-02-16
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Dr. Somkid welcomed Japanese investment in the ASEAN bloc, and asked Japan to provide assistance in Thailand’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

 

Yea, right....like Thailand is in a hurry to join the CPTPP (or whatever name they are now giving the rejiggered Trans-Pacific Partnership agreement).  Let's go back in time around 5 years to see what Thailand was saying about the Trans-Pacific Partnership in 2015....basically, saying, "Not now, but we are studying it."

 

Thailand don't want to join nothing unless they can have it "totally their way" which isn't going to happen in today's global trade world.

 

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PM urges caution on Thailand joining TPP

PUBLISHED : 24 OCT 2015 AT 09:15

.. 

 

Thailand will carefully consider if it is necessary to join the Trans-Pacific Partnership (TPP), backed by the United States, as the country is in talks regarding another major trade pact involving China, Prime Minister Prayut Chan-o-cha says.

 

Speaking during his weekly televised address on Friday night, Gen Prayut said the Commerce Ministry recently invited representatives from three major private sector organisations to discuss the impact of the TPP which comprises 12 countries.

The private organisations are the Thai Bankers' Association, the Thai Chamber of Commerce, and the Federation of Thai Industries.

 

The ministry said the organisations agreed that Thailand should join the TPP as it would benefit the country, particularly in terms of investment, despite the fact that some business operators harboured concerns over the impact on some goods exports, Gen Prayut said.

 

However, Gen Prayut said, of the 12 TPP members, nine have bilateral trade agreements with Thailand. The US, Canada and Mexico do not.

 

Thailand is also in comprehensive talks regarding the Regional Comprehensive Economic Partnership (RCEP) which is an economic and trade pact between 10 Asean members and six other countries: China, Japan, South Korea, India, Australia, and New Zealand.

The pact will cover up to 3.5 billion people, or almost half the world's population, Gen Prayut said.

 

As a result, he said, he ordered all relevant agencies to study the pros and cons of the matter from all aspects.

 

He said Thailand still has until 2017 to make a decision on whether to join the TPP.

"We will not close off the chance [of joining] but we need to consider this matter carefully," the premier said.

 

A government source said the acceleration of the TPP by the US would spur China to hasten talks about the RCEP.

 

The RCEP was an initiative launched in November 2012.

Negotiations are due to conclude this year for the world's largest regional trading bloc, accounting for 45% of the global population with a combined GDP of US$21.4 trillion.

Thailand exported goods worth $127 billion to RCEP countries in 2014, making up 56% of its export value.

 

 

 

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On 2/16/2020 at 11:16 AM, Pib said:

Thailand don't want to join nothing unless they can have it "totally their way" which isn't going to happen in today's global trade world.

TPP was created in part as an US-Japan-Korea economic counter to China's Silk Road economic program. Hence, I believe Thailand's reluctance to join even though recommended by Thai academics, economists and corporations. Prayut might appear disloyal to the Chinese empire's security and trade agreement with Thailand.

But now with slowing of the intertwined Thai and the Chinese economies that would stall China's Silk Road program success, there's more pressure on Prayut to diversify Thailand's economy. Joining a partnership that represents 40% of the global economy now makes more sense than focusing on single markets like African and Micronesia nations.

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