Civil society, academics and businesses generally want Thailand to join the Trans-Pacific Partnership (TPP), signed by 12 Pacific Rim countries last October, according to the Commerce Ministry.
But they also urge policymakers to study the impact carefully before making any final decision.
"The Commerce Ministry has had meetings with businesses, non-profit organisations, academics and the farm and livestock sector over the past few months, and they mostly said Thailand should join the new trade bloc," said commerce vice-minister Winichai Chaemchaeng.
"But we still need to hear comments from other parties, particularly in provincial areas where we are scheduled to hold meetings from February."
Mr Winichai said the business sector was particularly active in supporting Thailand to join the TPP, saying rice, sugar, frozen and processed shrimp, canned tuna, tapioca and starch, garments, gems and jewellery, pharmaceuticals, air transport, health tourism and direct sales would be most competitive if Thailand joined the pact.
However, farm operators still urged authorities to study the pros and cons, saying Thailand was not yet able to compete with TPP members in terms of production costs of animal feeds.
They also urged the government to work out remedy measures for sectors that would be hit by joining the pact.
The TPP is a trade agreement among 12 countries led by the US and including Canada, Mexico, Peru, Chile, Australia and New Zealand. The founding members in Asia are Japan, Singapore, Malaysia, Vietnam and Brunei.
The economies of TPP countries encompass about 40% of global trade or US$295 trillion a year, with a combined GDP of $28.3 trillion representing 38% of the world's GDP.
The agreement encompasses not only tariff reductions for trade in goods among members but also includes eliminating barriers to investments and services trade.
Moreover, members of the pact have agreed on other trade-related issues such as intellectual property (including data protection for medicines), government procurement, e-commerce and labour standards.
The 12 TPP members account for 40% of Thailand's trade and 45% of foreign direct investment (FDI) annually.
However, Thailand has free-trade agreements with most of the 12 countries except for the US, Canada and Mexico.
Exports to Canada and Mexico account for less than 1% of exports, while FDI from the two countries accounts for less than 2% of FDI into Thailand annually. On the other hand, the US accounts for 8% of Thailand's exports and 8% of direct investment flows into Thailand annually.
The largest potential impact from the agreement on Thailand is greater competition in the US market from TPP members.
Exporters are concerned that Thai exports to the US will be less competitive than similar products from TPP members because tariffs charged on Thai products will be higher than those on products from TPP countries.
Deputy Prime Minister Somkid Jatusripitak said last month that Thailand was highly likely to join the new trade bloc.