Govt to spurn CPTPP trade deal, says FTA Watch

By The Nation

 

 

The government is backtracking on plans to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade deal, according to FTA Watch.

 

The trade-monitoring organisation says a source close to Commerce Minister Jurin Laksanawisit revealed that the minister has withdrawn the proposal to join the CPTPP from Tuesday’s (April 28) Cabinet agenda.

 

The CPTPP encompasses the world’s third largest free-trade area, with signatories Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam representing 13.4 percent of global GDP, or US$13.5 trillion, at time of signing.

 

Thailand is due to sign the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free-trade deal covering half the world’s population and 30 percent of global GDP – later this year.

 

FTA Watch said it will continue to monitor developments until the government officially confirms it will not join the CPTPP.

 

Source: https://www.nationthailand.com/news/30386860

 

-- © Copyright The Nation Thailand 2020-04-27

 

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35 minutes ago, snoop1130 said:

Thailand is due to sign the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free-trade deal covering half the world’s population and 30 percent of global GDP – later this year.

It makes me wonder if it's a ploy that Thailand thinks by dragging their feet it might lead to more favourable terms.

Changing your mind at the last moment after negotiating to join isn't exactly confidence inspiring.

 

Already done their's with China 

16 hours ago, snoop1130 said:

Thailand is due to sign the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest free-trade deal covering half the world’s population and 30 percent of global GDP – later this year.

I hope the participating countries make sure that Thailand drops it's "luxury tax" on imports before signing the deal!

1 hour ago, hotchilli said:

I hope the participating countries make sure that Thailand drops it's "luxury tax" on imports before signing the deal!

That's probably why they aren't joining - protectionism is rarely favored in free trade deals

2 hours ago, hotchilli said:

I hope the participating countries make sure that Thailand drops it's "luxury tax" on imports before signing the deal!

Think one of the fun things in Thailand is trying to find a cheap Thai 'alternative' and packing your return bags with as much luxury items on every trip you can and crossing your fingers walking through immigration