Thailand is seeking support from Japan to help the country become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a newly formed bloc of 11 Pacific Rim nations excluding the US, as the country plans to submit its application for CPTPP membership later this year.
Deputy Prime Minister Somkid Jatusripitak said the fourth meeting of the Thailand-Japan, High-Level Joint Commission, scheduled for July 18, will include Japan's support for Thailand in the new bloc among other key issues.
"This is an important issue, as we're scheduled to submit our application for CPTPP membership later this year," said Mr Somkid, who will lead high-ranking Thai officials to visit Japan from July 17-21.
Eleven Pacific Rim countries signed the CPTPP on March 8, which was revised after the US withdrew from the previous TPP agreement in January 2017.
The signatories are Singapore, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Vietnam. The CPTPP members welcomed interest from other economies wishing to join the trade bloc.
The pact is set to go into effect 60 days after at least six countries complete domestic approval procedures. Members were expected to speed up implementation of the pact this year.
The 11 CPTPP countries combined had US$10.2 trillion (319 trillion baht) in GDP in 2017, making up 13.5% of the global total.
The signatories have a combined population of 495 million or 6.8% of the global total.
In 2017, Thailand's two-way trade with those 11 countries amounted to $134.6 billion, with exports from Thailand contributing $70.3 billion, accounting for 29.7% of Thai shipments.
Thailand had a trade surplus worth $6 billion with the CPTPP members last year.
Thailand and Japan will also discuss a possible revision of a free-trade pact under the Japan-Thailand Economic Partnership Agreement (JTEPA) to enhance in-depth cooperation, Mr Somkid said at the meeting.
"The JTEPA focuses largely on import tariff cuts," he said. "We're looking to overhaul the 10-year pact to cover greater cooperation."
The JTEPA was signed in Tokyo in 2007 and came into force on Nov 1, 2007, covering trade in goods and services, rules of origin, investment and movement of people.
Mr Somkid said the meeting will also monitor progress of infrastructure development in the Greater Mekong Subregion that is supported by Japan, as well as follow up on industrial development cooperation between Thailand's Industry Ministry and Japan's Economy, Trade and Industry Ministry. Other issues include cooperation on the Eastern Economic Corridor and upgrading small and medium-sized enterprises.
The minister is set to meet executives from Japanese companies and give a keynote speech.