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Thailand considers CPTPP membership

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Thailand considers CPTPP membership

 

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BANGKOK (NNT) - The International Economic Policy Committee has held a meeting chaired by Deputy Prime Minister Somkid Jatusripitak to consider the pros and cons of Thailand joining the Comprehensive and Progressive Agreement for a Trans-Pacific Partnership (CPTPP), as well as gathering public input. Outcomes from this meeting will be proposed to the Cabinet for consideration within this April.

 

The Department of Trade Negotiations’ (DTN) Director General Auramon Supthaweethum, said today that as a member of the CPTPP, Thailand may gain an additional 0.12 percent GDP growth worth 13 billion baht, however Thailand may lose 0.25 percent economic growth if it chooses not to join the partnership, resulting in a loss of about 26 billion baht.

 

She said the CPTPP will provide opportunities for Thai products to hit new markets in countries without existing FTA agreement with Thailand, such as Canada and Mexico, while certain products such as rice, rubber, canned pineapple, vehicles, and electronic appliances would benefit from the new partnership.

 

The DTN is collecting related information to propose to the Cabinet for consideration before this April, which should allow enough time for the government to prepare should it decide to move forward with CPTPP negotiations, at a ministerial meeting of member states scheduled for August.

 

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26 minutes ago, webfact said:

as well as gathering public input

Can't wait to hear what Daeng the tuk tuk pilot has to offer!

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I see my flag there. Does it means I would get any advantage? 

 

I have the right to keep dreaming. 😁

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1 hour ago, webfact said:

Thailand may gain an additional 0.12 percent GDP growth worth 13 billion baht, however Thailand may lose 0.25 percent economic growth if it chooses not to join the partnership, resulting in a loss of about 26 billion baht.

Sorry, but weighing up the pros and cons ? Guessing some Hi-so related official has a stake in some business that might lose out and is holding the economy 13 billion to ransom 

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Likely retail prices won’t change, just larger profits for monopolies 

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Didn't Thailand have a chance to be part of the TPP 4 or so years ago? Is this a new version of that trade treaty? Why would a trans pacific trade agreement be good now but not in 2015 ?

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3 hours ago, IAMHERE said:

Didn't Thailand have a chance to be part of the TPP 4 or so years ago? Is this a new version of that trade treaty? Why would a trans pacific trade agreement be good now but not in 2015 ?

Brown envelope is thicker now? I am not an economist but would having to follow rules mean the death nail to Thailand as they would have to compete with products made in Japan, Australia etc on equal footing without up to 300% taxes slapped on them? I most defiantly would pay the same or a little more for a car/vehicle made in japan never mind lamb, steak, wine from Australia/New Zealand... I know the UK is not involved in this but on returning back here I have noticed things that used to be cheaper in Thailand and similar quality like clothes are far cheaper and far better quality now in the UK and as for food just walking round tesco you can see the difference which is very visible especially looking at cauliflower heads pure white no blotches and also no green worms inside. Without protectionism Thailand will die. 

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