After the TPP was signed earlier in March, Thailand’s government, through the Deputy Prime Minister Somkid Jatusripitak, expressed Thailand’s desire to being a member of the Trans-Pacific Partnership trade agreement.
Thailand previously hoped to make progress in negotiations on the Regional Comprehensive Economic Partnership, or RCEP, which consists of Japan, China, India, and the 10 members of the Association of Southeast Asian Nations. Instead, 11 member nations signed the TPP agreement earlier this month.
The TPP will go into effect 60 days after at least 6 member countries complete the necessary domestic procedures to gain approval of the agreement.
Thailand’s government apparently decided to join the TPP to avoid losing out in multilateral free trade.