ID :
396511
Wed, 02/10/2016 - 07:13
Auther :

Thai government urged to join TPP

BANGKOK, February 10 (TNA) - The Thai private sector, through the Joint Standing Committee on Commerce, Industry and Banking(JSCCIB), has called on the government to join the Trans-Pacific Partnership (TPP) and cushion impacts on vulnerable parties. JSCCIB Chairman Suphan Mongkolsuthree, who is also Chairman of the Federation of Thai Industries (FTI), told journalists on February 9 that JSCCIB has resolved to urge the Thai government to participate in TPP because about 90 per cent of JSCCIB members support the move. Suphan proposed that authorities study measures to assist those who oppose Thailand's TPP participation as the move would affect their interest. Suphan said foreign investors are concerned as they wonder whether Thailand would join TPP, cautioning if Bangkok decided not to join TPP, there could be impacts on foreign investment in the Thai economy. FTI Vice Chairman Wallop Vittanakorn suggested that a fund having been set up to cope with negative impacts of free trade be spent to assist vulnerable groups from TPP participation in Thailand. Isara Vongkusolkij, Chairman of the Board of Trade of Thailand, also said foreign investors support Bangkok's TPP participation, but Thai authorities must study negative impacts and assistance for some vulnerable sectors, including the local agricultural sector. Isara pointed out Thailand's failure to join TPP would do more harm than good, acknowledging that with TPP participation, Thailand would benefit from exports to TPP partners. Isara foresaw that TPP would raise Thailand's gross domestic product (GDP) by 1.06 per cent and modern farms should be a solution for the local agricultural sector. (TNA)

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