Tuesday, March 31, 2020

Japan's help sought on TPP membership

Nov 06. 2015
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By Petchanet Pratruangkrai

The

Thailand will encourage Japan to support the country |joining the Trans-Pacific Partner-ship in the near future, as well as asking for higher import quotas for certain products.

Meanwhile Japan will ask Thailand to increase imports of Japanese steel to support car |production in the Kingdom.

Those proposals will be on the agenda during Deputy Prime Minister Somkid Jatusripitak’s mission leading Thai economic ministers to Japan from November 25-28.

After a meeting yesterday between Commerce Minister Apiradi Tantraporn and Japanese Ambassador to Thailand Shiro Sadoshima, Sirinart Jaimun, |director-general of the ministry’s Trade Negotiations Department, said Thailand and Japan |would strengthen cooperation during the Somkid mission, |focusing on increased bilateral trade and investment.

During the mission, the two countries will set up a High Level Joint Commission for government officials.

There will also be a meeting of government officials and Thai and Japanese private enterprises to address trade and investment problems.

As Japan is already part of |the TPP, Thailand will ask it to |support the Kingdom’s membership in the future.

Sirinart said Thailand would ask Japan to increase import quotas for many products, mainly processed pork, mangoes, limes and oranges.

Thailand exported 6,400 tonnes of processed pork to Japan last year, but the quota was only 1,200 tonnes. Thus the excess exports faced a tariff of 20 per cent, while the tariff within the quota allowance is 16 per cent.

On the other hand, Japan |will ask Thailand to increase the import quota for steel to support its |automobile industry. Currently, the Thai quota is about 530,000 tonnes.

Japan and Thailand will encourage the finalisation of |the Asean-Japan Economic Partnership Agreement before the |end of this year to liberalise trade |in goods, services and investment.

In the first eight months of this year, two-way trade between Thailand and Japan declined |by 8.52 per cent to US$34.85|billion (Bt1.239 trillion).

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