Ex-UNCTAD chief warns Thailand against TPP

BANGKOK, May 13 (TNA) - Former secretary-general of the UN Conference on Trade and Development (UNCTAD) Supachai Panitchpakdi, who is also a former Thai deputy prime minister, has warned Thai authorities to carefully consider joining the Trans-Pacific Partnership (TPP), which, he says, is another tool of world economic powers to protect their own interest. Speaking at a seminar on TPP in Bangkok on Friday, Supachai acknowledged TPP is another important forum that world economic powers are using to direct world trade. Supachai pointed out that TPP is different from the Geneva-based World Trade Organization (WTO), which emphasizes multilateral development-oriented and fair trade. Supachai opined that world economic powers, including the United States, have tried to direct WTO but to no avail; so, they have pushed for TPP to direct world trade. Besides, many details in TPP are intended to secure large-scaled businesses of developed countries, including those of international pharmaceutical companies and tobacco companies. The ex-UNCTAD noted that global economic bodies, including the World Bank, had not indicated that TPP would benefit any country; so, Thailand should carefully consider pros and cons and its competitiveness before making a decision. TPP originated from the Trans-Pacific Strategic Economic Partnership (TPSEP) in 2006, which involved Brunei, Chile, New Zealand and Singapore. Later, the United States, Japan, Australia, Peru, Vietnam, Malaysia, Canada and Mexico joined it and its membership has risen to 12 countries since late 2015. TPP is officially aimed at tax reduction and its negotiations cover trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurements and competition policies. (TNA)