Thailand Plans to Join CPTPP Free Trade Agreement

Thailand Ministry of Commerce has announced that the country plans to join The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The ministry expects to apply for a membership in the CPTPP as soon as March 24th, 2019. Thailand would become the 12th country member of CPTPP, alone with Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Even without Thailand, the CPTPP is already the third largest free trade area after North American free trade area including the USA, Canada and Mexico, and European common market. It is estimated, that the current CPTPP member economies represent around 13% of the world GDP and have over 500 million combined population.

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