Thailand to study new TPP signed by 11 nations
published : 9 Mar 2018 at 16:50
writer: Phusadee Arunmas
Thailand will study the details of the slimmed-down version of the Trans-Pacific Partnership (TPP) trade pact before taking a stance on it, a Commerce Ministry official said on Friday.
Auramon Supthaweethum, the director-general of trade negotiations, said the department was closely following developments and consulting relevant parties on whether the country should seek to join it.
Studies would be commissioned into the pact's impact on Thailand.
Ms Auraman said Thailand's position for now is wait-and-see. A summary of the consultations and study would be be submitted to the government for a decision.
Eleven nations signed the agreement in Chile on Thursday. The United States was not among them, having withdrawn from it, and Washington's most controversial demands have been omitted.
The new version without the US is called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
In 2012, then-US president Barack Obama approached Yingluck Shinawatra, the prime minister at the time, to join the pact but the Thai government kept a cautious position.
US President Donald Trump opted out of the TPP after succeeding Mr Obama. But US Treasury Secretary Steven Mnuchin said an option for the US to rejoin the agreement remained open.
The agreement is expected to come into force this year after it is ratified by six of the 11 members.
Thailand had US$6 billion in trade with the 11 members last year, according to ministry figures.