APEC economy “Jurin” leads negotiations on FTAAP, aiming to increase trade value of 200-400%

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APEC economy “Jurin” leads negotiations on FTAAP, aiming to increase trade value of 200-400%

On May 19 at 9.45, Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce Opened a seminar on driving the creation of the Asia-Pacific Free Trade Area (FTAAP) during COVID-19 and the future (Symposium on FTAAP in the post-COVID-19) with Mr. Sinit Lertkrai, Deputy Minister of Foreign Affairs. commerce Executives of the Ministry of Commerce Executives from government agencies and private sectors at the World Ballroom, 23rd floor, Centara Grand at Central World Hotel.

Mr. Jurin said that the topic of today’s discussion was to drive the creation of the Asia-Pacific Free Trade Area (FTAAP) as an FTA of the APEC Trade Economic Cooperation Group. Important goals for all sectors, government, private, academic or business people general public Understanding and consolidating the driving force from the economic cooperation of the 21 Asia-Pacific Economic Zones into the future FTAAP, which is aimed at 2040, if successful, will become the world’s largest FTA. Because it has a total population of 2.9 billion, accounting for 38% of the world’s population and will have a GDP accounted for 62% of the world’s GDP, worth about 52 trillion US dollars or 1,768 trillion baht. Trade value from 21 economic zones is worth 608 Trillion baht or 18 Trillion Dollars In which these 21 economic zones will directly benefit, at least the tax will be zero between them.

When it is an FTA, the rules of trade are the same. And there will be an open market between each other in terms of products and services. Including mutual investment promotion. If it is actually FTAAP in 2040, it is predicted that the value of trade in the 21 economic zones will increase by about 200-400%. For Thailand, we currently have a trade value with the 21 economic zones of 12.2 trillion baht. Or equivalent to $385 billion, if FTAAP is real in 2040, it will grow by 200-400% as well.

Having to admit, the fact that FTAAP hasn’t been moving so fast in the past 20 years still has some delays, even in 2020, when Malaysia hosts it, the FTAAP target will be included in the Putrajaya vision. of APEC that will be accomplished in 2040. This year, 2022, Thailand will be the host after New Zealand. has set important themes in this APEC meeting

This will run from today 19-22 May and will be followed by a Leaders Summit in November later this year approximately. Thailand has set three key themes of the meeting: “Open. Connect. Balance.” This means that we will be open to the movement of trade and investment between the APEC economies. Trade and investment links in the manufacturing sector production chain Common Marketing in the APEC Economic Area and create a balance in both the environment and trade and investment for all 21 economic zones to benefit together

In addition, in Thailand’s policy, there is a policy to push the FTA to its full potential. This is the goal. Besides being the direction of APEC, Thailand declares its importance and wishes to fully cooperate with the rest of the economy in order to achieve the FTA in the future as quickly as the target set for at least 2040.

Thailand currently has 14 FTAs ​​with 18 different countries. The largest FTA recently accomplished is the RCEP (Regional Comprehensive Economic Partnership), which we hosted a few years ago. Chaired the RCEP Trade Economy Ministers meeting until success. RCEP is now the largest FTA to date, but if an FTAAP is bigger than RCEP, all economic zones will benefit more.

Thailand aims to do additional FTAs ​​in addition to the existing 18 countries, 14 such as FTAs ​​with the European Union or the EU, Thailand with the United Kingdom. which he will travel to the JTC meeting (Joint Trade Committee meeting) with England in mid-June. It aims to do an FTA with the EFTA (European Free Trade Association) bloc including Iceland, Liechtenstein, Norway and Switzerland. He will lead the delegation to Iceland around June 20, 65 to meet with ministers from 4 countries. Announced as one of the start of FTA negotiations between them and we are aiming to do FTA with many other countries including FTAAP.

Today’s discussion will be an important forum to exchange ideas and build knowledge and understanding between Thai people and members of the APEC economic zones. Many issues will be discussed, such as defining what should be included in the FTAAP, e-commerce, competition, environment, human rights, etc. But to what extent should these things be concrete? for mutual benefits with all parties in the 21 member economies

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