While the TPP will take many years to actually implement, it is likely to mean a major change in trade relations between the USA and TPP members.
Nonetheless, the fact that Thailand is not presently set to join the TPP has caused concern and confusion among Thailand’s business leaders.
Thailand’s objections to the TPP
1) drug patents: the time taken to release generic drugs, as well as the potential for price increases due to ‘data exclusivity’;
2) patents on plants and animals: local communities may be negatively affected, and there’s increased risk of ‘bio-piracy’;
3) geographical identification: trademarks concerns about other countries registering Thai products as their own;
4) copyright law: increased copyright protection may hinder knowledge transfer. See the image below for more details.
Can Thailand still join the TPP?
It is still possible for Thailand to join the TPP; however, negotiations would need to take place with each country individually.
If the 12 existing countries agree to allow Thailand to join it would be a case of submitting the correct documents and committing to comply with the rules of the TPP.
Now that the TPP has been made public, it may be easier for Thailand to enter negotiations.
While previous governments had to consider the public reaction to secretive negotiations, the fact that the document can now be read in full means that arguments can be made both for and against with clear supporting evidence.
Thailand to increase rice exports to 6 million tons this year
BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement
Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.
Cross-border trade is expected to grow up to 3-6%
BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.
Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.
According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.
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