Panel to work on finding out if trans-Pacific pact really beneficial

By THE NATION

 

Ratchada Thanadirek

 

The Cabinet on Tuesday (May 26) assigned Digital Economy and Society Minister Buddhipongse Punnakanta the job of finding out whether Thailand should become part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), deputy government spokesperson Ratchada Thanadirek said.

 

If the government finds that joining CPTPP will be beneficial to the country, then the next step will be negotiating about and signing the partnership, she added. The minister and a soon-to-be set up committee will have 30 days to consider and report back to the Cabinet.

 

The issue was brought up by Prime Minister Prayut Chan-o-cha and the Cabinet resolved to propose this issue to the House of Representatives as well as set up the committee.

 

A previous government-led study showed that if Thailand joined the partnership, its gross domestic product (GDP) would grow 0.12 per cent or by Bt13.32 billion and investments would rise by 5.14 per cent or Bt148.24 billion.

 

However, if the country chooses not to sign the pact, its GDP stands to contract by 0.25 per cent or Bt26.6 billion and investments are expected to drop by 0.49 per cent or Bt14.27 billion.

 

Source: https://www.nationthailand.com/news/30388551

 

-- © Copyright The Nation Thailand 2020-05-27

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

Trade agreements can not make up for the ruinous policies of the military gov. Prior to the pandemic exports were in free fall and they are unlikely to recover. 

This analysis was already done years ago by the Prayut regime. Common consensus was to join.

Now that Thailand has lost its trade preferences with the US, it needs a strong alternative trade agreement. 

5 hours ago, webfact said:

deputy government spokesperson Ratchada Thanadirek

Yes!

Any country should be mindful of making trade agreements with Thailand, as it's protectionism is a one way ticket for trade.

Ask Australia how the Thailand-Aus Free Trade deal is going. For one, Australian wines still attract huge price markups (call them market-protecting hidden tariffs). Two, Thailand pulled the rug out from under Aus gold miner Kingsgate, which says it is owed 30 billion baht/$US1 billion for its losses. 

Thailand is as trustworthy as her big brother China, for both there is no such thing as an unbreakable treaty or agreement. 

Trade Deal, what a piece of work. Unbelievable .