Sontirat mulls CPTPP membership

Sontirat mulls CPTPP membership

Ministers poses for a pictures after the signing ceremony of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Santiago, Chile, on March 8 2018. (AP photo)
Ministers poses for a pictures after the signing ceremony of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in Santiago, Chile, on March 8 2018. (AP photo)

Thailand is studying the pros and cons of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that is due to take effect on Dec 30, said the Commerce Ministry.

Six out of the total 11 members of the CPTPP have already ratified the partnership, said Commerce Minister Sontirat Sontijirawong.

Those countries are Mexico, Japan, Singapore, New Zealand, Canada and Australia, he said.

The ministry has now set up a team to assess the possible benefits of CPTPP membership to Thailand, Mr Sontirat said.

The team is working together with parties concerned not only to research the pros and cons of the CPTPP, but also to organise public forums to gauge public opinions about Thailand's prospect of becoming a member.

Five public forums were held in August and September and more than 1,400 people in related sectors attended them, according to Mr Sontirat.

The forum participants came from 40 provinces.

At these forums, private companies voiced their support for Thailand to sign the CPTPP agreement.

However, farmers and some civic groups have advised Thailand to exercise caution in the case of a possible negative impact of the CPTPP on sectors including agriculture and their ability to compete in the market, he said.

Concerns from past forums were compiled and will be discussed with state agencies to determine how the country can prepare itself for problems that might result from the agreement, he said.

They will also discuss how affected sectors can receive compensation from the state in the event the country joins.

The CPTPP is a trade agreement that covers a wide range of areas including trade of goods and services, investment, capital movement, state procurement, e-commerce, intellectual property, competition policy, labour and environment.

The 11 members of the CPTPP are Australia, Canada, New Zealand, Chile, Peru, Mexico, Japan, Brunei, Malaysia, Singapore and Vietnam.

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