Thailand
Japan confirms cooperation towards Thailand’s entry into CPTPP
TOKYO: Japan and Thailand agreed on Wednesday to work together towards the Southeast Asian country’s entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as the two nations boost economic cooperation aimed at promoting free trade.
In a joint statement issued after a bilateral high-level meeting in Tokyo, Japan reaffirmed its “full support” for Thailand to join the CPTPP and “both sides will accelerate working-level consultation” to that end.
Following the abrupt withdrawal of the United States under President Donald Trump, Japan has been hoping to increase the number of members, while encouraging the US to return to the free trade pact.
During the meeting held at Prime Minister Shinzo Abe’s office, Thailand reaffirmed its intention to join the 11-member CPTPP, according to chief cabinet secretary Yoshihide Suga, who co-chaired the meeting with Deputy Prime Minister Somkid Jatusripitak.
Suga underscored the significance of the CPTPP framework, saying it is “closely linked to (Japan’s) free and open Indo-Pacific strategy.”
Since the exit of the US, Japan has led the negotiations to clinch the trade deal involving Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Eleven Pacific Rim countries signed the CPTPP on March 8, which was revised after the US withdrew from the previous Trans-Pacific Partnership agreement in January 2017.
Tokyo and Bangkok also confirmed their close cooperation towards the early conclusion of another regional trade bloc known as the Regional Comprehensive Economic Partnership, as negotiations are under way among Japan, Thailand and 14 other Asia-Pacific countries including the 10-member Association of Southeast Asian Nations.
Both sides expressed determination to continue advancing railway development projects in Thailand, according to the statement.
Citing an agreement on Japan’s support to build a high-speed railway system connecting Bangkok and Chiang Mai, reached in a meeting last year, Mr Somkid said the project “helped bring Japan and Thailand closer.”
Suga also expressed Japan’s gratitude for Thailand’s donations worth 5 million baht in the wake of recent deadly torrential rain that devastated western Japan.
Source: https://www.bangkokpost.com/business/news/1505734/japan-confirms-cooperation-towards-thailands-entry-into-cptpp