The proposal was to be made under the resolution of the Bureau of International Economic Policy led by Deputy Prime Minister Somkid Jatusripitak.
The issues of concern include the protection of new plant species and government procurement.
According to studies conducted by related agencies, CPTPP could help Thailand’s economy grow by 0.12 percent of the gross domestic product (GDP) or worth Bt13 billion, while investments could rise by 5.14 percent or Bt148 billion.
However, if the Kingdom decides to stay out of CPTPP, then the country’s GDP and investment will rise by 0.25 percent and 0.49 percent respectively. The study also showed that Thailand will also be losing out on certain commercial benefits if it signs the CPTPP.
The partnership will also be beneficial for Thailand after the Covid-19 crisis is resolved, because international regulations on product standards, food safety, environment, trade, labour and governance are expected to change.
Published : April 27, 2020
By : THE NATION