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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

The Thai governmentrecently declared its intentionto participate in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) after the US made implicationsof re-joining. 

Tanwa Mahittivanitcha ofGrant Thornton (Thailand) views that it is difficult to answer whether Thailand should be part of the CPTPP or not since FTAs usually have different levels of impact on various stakeholders, a mechanism to protect certain sectors from negative effects is therefore necessary.

 

The Trans-Pacific Partnership (TPP) changed its name to CPTPP after the US withdrew, TPP was initiated by Chile, Singapore and New Zealand.  The US took part in 2008 and the agreement was signed in 2016 with 12 members.  Of the members of CPTPP, Thailand has already made Free Trade Agreements (FTA) with 9 of them, except Mexico and Canada, which leads to the following questions, in considering the benefits of joining the group:

1. What economic benefits will Thailand receive from having FTA with Canada and Mexico?

2. What additional benefits will Thailand receive from the 9 countries, that it already has FTAs with?

3. What shouldThailand commit to gain membership to the CPTPP?

The answer to these questions requires an analysis of the existing international trade and the prospects of Thailand’s future trade with Canada and Mexico, including a comparison of gains from the 9 existing FTAs with CPTPP members with benefit from participating in the new agreement.

 

 

Source : Post Today

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