Illustrative photo. (Source: VNA)Bangkok (VNA) – Thailand’s cabinet has agreed to setup a committee to consider whether the country should sign up to the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP), amidwidespread concerns about its harmful effects on the agriculture industry.
A standing panel of the lower house will seek public opinionabout the CPTPP membership, deputy government spokeswoman Rachada Dhnadirektold a news briefing.
Its conclusions will be useful for the cabinet to decide onCPTPP membership, she said, adding that Deputy Prime Minister and CommerceMinister Jurin Laksanawisit agreed with forming the committee and thegovernment wants to get it done within 30 days.
Jurin discussed the CPTPP with other ministers on thesidelines of the cabinet meeting on May 19. He was asked by Prime MinisterPrayut Chan-o-cha to present details of the CPTPP proposal at the informaldiscussion so the cabinet could begin preparing for possible negotiationsexpected in August.
If Thailand agrees to take part in talks at the upcomingmeeting of the CPTPP founders in August, the government will have about twomonths left to settle the matter through the cabinet and the lower house.
The Commerce Ministry previously said the membership couldlift economic growth to help offset the negative impact of the coronavirusoutbreak.
However, the cabinet shelved a decision on membership lastmonth following stiff opposition by politicians, civil society groups andprominent social figures who said it would hurt the economy, particularly theagricultural and healthcare sectors.
A study by Bolliger & Company Thailand, which was hiredby the department, found participation in the CPTPP would boost Thailand's GDPby 0.12 percentage points in revenue a year.
The CPTPP is a trade agreement between Australia, Brunei, Canada, Chile, Japan,Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam./.
