Thailand To Back Free Trade Area of Asia-Pacific (FTAAP)

While there has been much speculation over the past year as to whether or not Thailand would join the US-led Trans Pacific Partnership (TPP), Thailand now appears to be favoring a more Asia-focused trade proposal known as the Free Trade Area of Asia-Pacific (FTAAP).

As reported in the Bangkok Post, the FTAAP was initially discussed during last year’s APEC meeting and would cover all Asian countries, including China.  Winichai Chaemchaeng, vice-minister of commerce, said he will propose the FTAAP at the upcoming APEC meeting in Peru and hopes to reach an agreement on FTAAP by this year.  It is not clear how this will impact Thailand’s interest in the TPP, but watch this space for further developments.