Thailand mulls to join TPP, RCEP

BANGKOK, March 22 (TNA) - The Thai government is considering to join two largest regional free trade blocs, the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), as growing Thai exports and other positive signs have mirrored the well-expanding national economy. Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, told journalists on March 21 that he has assigned the Ministry of Commerce to conduct a thorough study on pros and cons of Thailand's participation in both the TPP and the RCEP, after Australia recently persuaded Thailand to join the two largest regional free trade agreements (FTAs). Somkid suggested that Thailand's benefits from joining the TPP and RCEP need to be clear amid tougher competitions among rival economies, including Vietnam, on the regional and the world markets. Somkid acknowledged that the Thai government's move to participate in the TPP and RCEP represents a progressive step of the nation. as several positive signs are showing that the Thai economy has been expanding well. The deputy premier pointed out that Thai exports, recognized as a key positive sign, had grown by 13.8 per cent year-on-year during the first two months of 2018 amid the appreciation of the Thai baht, with the country's exports in February alone expanding by 10.3 per cent year-on-year. The deputy prime minister projected that Thai exports should grow by 12-13 per cent on average year-on-year in 2018 with no serious concerns over the appreciation of the Thai currency, as the well-expanding national economy has attracted more international tourists and investment funds, including those on the Stock Exchange of Thailand (SET), while the Bank of Thailand (BOT) has closely monitored and handled the situation to keep the stronger Thai baht The deputy prime minister projected that Thai exports should grow by 12-13 per cent on average year-on-year in 2018 with no serious concerns over the appreciation of the Thai currency, as the well-expanding national economy has attracted more international tourists and investment funds, including those on the Stock Exchange of Thailand (SET), while the Bank of Thailand (BOT) has closely monitored and handled the situation to keep the stronger Thai baht stable. Besides, it was learned from a recent business seminar in Bangkok on "Taking off News Heights" that there should be more capital inflows to the Thai bourse and to funding foreign direct investment (FDI) plans in expanding Thai infrastructure, as well as digital and innovative systems over the next couple of years, which would further boost the country's current account. Declaring that the Thai economy has passed its bottom line with no serious worries over the Thai baht value and the well-managed public debt, the deputy prime minister quoted many research centers as saying the SET index should reach a highest benchmark of 1,900 points within this year. (TNA)