Indonesia is eagerly anticipating the signing of the Regional Comprehensive Economic Partnership (RCEP) in November, believing the China-led trade pact could pave the way for more economic activity and a stronger recovery from the Covid-19 pandemic.
Thailand will take until September to study whether to join a trans-Pacific free trade agreement, potentially missing a window for entry this year amid widespread concern that joining the pact may harm its farm and healthcare sectors.
The Transpacific Partnership Agreement involves investor - state dispute settlement clauses, which large companies may use ISDS to sue governments for actions they took to stop the spread of the virus.
As sporadic tensions flare over US-China trade, a fierce debate also continues at home, centred on whether Thailand should join a trade pact touted as creating the third-largest free trade area in the world.
Doubts though remain over China’s ability to meet the requirement of the Comprehensive Progressive Trans-Pacific Partnership Agreement (CPTPP).
Britain intends to pursue accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership as a key part of its trade negotiations programme, a government policy paper said.
The British government signalled that it intends to join another trade agreement in which Canada is already a partner: the Comprehensive and Progressive Trans-Pacific Partnership.
The UK wants to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership regional trade pact as soon as possible, welcoming Japan’s support for Britain’s membership.
The #NoCPTPP hashtag is back on trend overnight, after the Shippers’ Council supported Thailand to participate in CPTPP negotiations to create impetus for the economy.
As political and trade tensions with the United States rise, and its image as a global leader is tarnished by riots, China has indicated it could join the CPTPP which New Zealand belongs to.
Thailand’s cabinet has agreed to set up a committee to consider whether Thailand should seek membership in an Asia-Pacific trade agreement after widespread opposition last month amid concerns joining the pact may harm the agriculture industry.
Securing multiple trade deals simultaneously is not impossible, say experts, but the UK will have to make concessions.
The union and its allies also asked the government not to join the Trans-Pacific Partnership, as they view that the restriction of rights to access medicine under the deal would put the country’s public health system in danger.
In recent years, observers have questioned whether investor–state arbitration will or should be a feature of the next generation of free trade and bilateral investment treaties.
Stepping into the role that the United States could have had at the helm of TPP, Beijing has offered a deal that puts it firmly in a leadership role. Through RCEP, the future of the broader Asia-Pacific economy has a diminished role for the United States.
Thailand’s cabinet will not consider on Tuesday whether Thailand will seek membership of an Asia-Pacific trade agreement due to widespread opposition.
The Commerce Ministry is pushing for cabinet approval for Thailand’s bid to join the (CPTPP) amid fierce opposition from civil groups which have argued the move will have an adverse impact on food security and access to medicines.
Global companies are positioning themselves to use little-known rules in trade agreements to claim millions of dollars in compensation for restrictions imposed during the pandemic.
Japan and UK reaffirmed their commitment to build the “new partnership as ambitious, high standard and mutually beneficial as the Japan-EU EPA (Economic Partnership Agreement).
The agreement does not promise that the suspended provision on test data rule concerning biological medicines will remain suspended.