15:16 | 30/03/2018 Global Economy
Thailand wants to become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2018, said Thai Deputy Prime Minister Somkid Jatusripitak on March 29.
|Thai Deputy PM Somkid Jatusripitak - Photo: AFP/VNA|
Earlier, the Thai government asked the Commerce Ministry to look into the procedures to join the agreement.
Speaking with reporters, Somkid stressed it is a significant issue and if there is no problem, Thailand will join CPTPP this year.
He added that Thailand will seek support from Japan to join the agreement.
CPTPP membership could benefit Thailand as the country’s electronics, seafood and agriculture face strong competitors in manufacturing and export like Malaysia and Vietnam.
On March 22, Somkid said that Thailand needs to join CPTPP as well as the Regional Comprehensive Economic Partnership (RCEP) to protect its benefit.
Thailand will lose trade and investment opportunities if it does not take part in the CPTPP, he said, adding that the Commerce Ministry is conducting a study of what Thailand will gain and lose under the trade deal.
The CPTPP was officially inked at a ceremony chaired by Chilean President Micelle Bachelet in Santiago de Chile on March 8, 2018.
The 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.