Thailand to Join Talks on U.S.-led Trade Pact

[webfact]

 

by Natthaphon Sangpolsit

    

BANGKOK (NNT) - Thailand is set to join talks on a multilateral trade agreement proposed by the United States, known as the Indo-Pacific Economic Framework for Prosperity (IPEF).

 

The decision will allow Thailand to join other nations that have expressed an interest in negotiating rules and procedures for the IPEF. Some ASEAN members - such as Singapore, Malaysia, the Philippines, Vietnam and Indonesia - have already indicated their intentions to become IPEF founding members.

 

On Friday (20 May), Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit met with U.S. Trade Representative (USTR) Katherine Tai on the sidelines of the APEC Ministers Responsible for Trade (MRT) meeting in Bangkok.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

According to Jurin, the U.S. asked Thailand to support the IPEF, which will be announced in France next month. He said he told Tai that the Cabinet on Tuesday agreed on a statement on the IPEF, which is not legally binding but expresses the kingdom’s intention to join the talks.

 

The Cabinet also explained that the talks on the IPEF will focus on promoting regional economic security and sustainable development, with priorities that include trade, production chain resilience, clean energy, reduction of carbon dioxide, infrastructure, taxation and combating corruption.

 

Thailand has seven free trade agreements. The latest and largest is the Regional Comprehensive Economic Partnership (RCEP), which was signed in 2021 and took effect in January of this year.

 

-- © Copyright NNT 2022-05-23

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

[thailand49]

Agreed?   Does that mean imported goods will no longer cost 40% more?  ????

[IAMHERE]

I haven't noticed anything in USA , from Thailand ,  that cost 40% more. And a heck of a lot of the shrimp and tuna are from Thailand or Thai owned companies.

[Isaan sailor]

Maybe we can buy a good Sonoma Valley Cabernet from this—at US pricing?

[John Drake]

Does this mean I can get Fritos again?

[Pedrogaz]

All this means is massive increases in the price of medicines. This will be a very thinly veiled enforcement of US IP. We have cheap medicine prices here because the government can use TRIPS to break patents if the medicine is needed by the public and is too expensive. Look for medicines to become unaffordable.

[KhunLA]

I hope TH & USA never have a FTA, as if TH sticks to it, would increase med prices substantially.

FTA are anything but IMHO.

 

I like things just the way they are.   

FO USA  ... keep your corporate greed in your own sh!thole.

Edited May 23, 2022 by KhunLA

[Isaan sailor]

1 hour ago, John Drake said:

Does this mean I can get Fritos again?

Not Fritos, but you can buy PepsiCo’s Doritos corn chips at BigC, Topps and some Lotus—made in China.

[John Drake]

1 hour ago, Isaan sailor said:

Not Fritos, but you can buy PepsiCo’s Doritos corn chips at BigC, Topps and some Lotus—made in China.

Gotta have the fritos for frito pie and bar-b-q fritos. Last time I had any was right around the beginning of Covid lockdown in 2020. Just before, a US aircraft carrier had come in for shore leave. I'm told that is how a lot of American goods get onto shelves. That was certainly the case back then. All sorts of American snacks available at my Tops for about a month. Since then, nada.

[candide]

After Trump stupidly scratched the TPP, China has been left during 5 years as the only one to propose a coherent economic project in this region of the world. So much time has been lost. It was urgent that a competitive project would come up.