Thailand supports Japan to move forward with TPP after US withdrawal

The government strives to attract Japanese investors to the Eastern Economic Corridor (EEC) while expresses support for Japan to press ahead with Trans-Pacific Partnership after the United States has overturned it.

In his speech to a large group of Japanese high-level business people on Tuesday (Sept 12), Deputy Prime Minister Somkid Jatusripitak expressed his support for Prime Minister Shinzo Abe government to move forward the implementation of the regional free trade pact with the remaining TPP countries folloiwng the US’ withdrawal from the deal earlier this year.

He also lauded the Japanese government for taking a lead role in creating free trade areas and promoting international trade cooperation such as the Regional Comprehensive Economic Partnership.

Mr Somkid invited Japanese businesses to invest in the country.

Under the plan, Thailand and Japan would become the major stakeholders in promoting bilateral investments in the Asian region. Reaching an agreement on this would further reinforce Thai-Japanese relations that, in the long run, will allow both countries to overcome any future global or regional hurdles, he said.

Mr Somkid also described his meeting as a success in term of of bilateral strategic negotiations between Thailand and Japan.

Thailand is the sole country in the Asian region selected by Japanese businesses for long-term investments, he said.

This corresponds well with the government’s plans to reform and modernize the country in accordance with the Thailand 4.0 master-plan of which making critical partnerships with foreign businesses is vital.

Despite the fact that a general election will result in a change of government, he confirmed that this blueprint will be adhered to.

A 20-year national strategic plan has already been conceived, a fact which was reiterated by Prime Minister Prayut Chan-o-cha when he met with the Japanese delegation.

The development of the Eastern Economic Corridor is the lead pilot project being pushed by the government alongside other vital considerations which includes technology and know-how transfer by foreign experts that will facilitate local manpower development.