Thailand faces long road to TPP entry

Subject

TPP membership.

Significance

The Thai government's International Economic Policy Committee planned on April 29 to announce that Bangkok would seek entry into the Trans-Pacific Partnership (TPP). However, agricultural groups pre-empted the announcement by threatening national farmers' strikes. Three groups in particular oppose the TPP: farmers, health activists and consumer protection organisations.

Impacts

• RCEP and TPP memberships are not mutually exclusive; rather, membership of both would help balance Thai foreign policy.
• TPP may help Thailand realise its longstanding goal to be the financial and transportation hub of mainland South-east Asia.
• TPP will not ease Thailand's immediate economic woes; growth this year will slow to around 3.3%.