Thailand, US to hold cooperation talks
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Thailand and the United States have agreed to conduct parallel trade and investment cooperation talks after the US has finalised its negotiations on the Trans-Pacific Partnership (TPP) during the next two years to promote economic growth for both sides.
In addition, Thailand and Russia will also strengthen trade and investment cooperation in particular on two-way investment promotion to drive economic growth.
The agreement came on Tuesday following talks between Commerce Minister Apiradi Tantraporn and US Trade Representative Ambassador Michael Froman, and between Apiradi and Russian Minister of Economic Development Alexey Valentinovich Ulyukayev in Manila.
Apiradi said that the US has agreed to conduct parallel talks with Thailand in promoting trade and investment since Thailand has not yet joined the TPP.
“During the next two years while completing the TPP documents, Thailand still has time to develop rules and laws before joining the TPP. The US, which is the leader of the TPP, will also help Thailand increase trade and investment under the Trade and Investment Framework Agreement,” she said.
To prepare for the TPP, Apiradi said that the US urged Thailand to amend and adjust trade and investment laws and regulations to be in accordance with the World Trade Organisation’s rules so that it will make Thailand more attractive for foreign traders and investors. Thailand has also been encouraged to develop intellectual property rights protection, as well as stringent enforcement of laws to punish violations.
