Back to the Thailand-US FTA talks
03/03/2008 12:00
This month's return of an elected civilian cabinet and Parliament to
Trade between
Despite the transitional situation, Thai-US economic relations remained stable and even improved slightly. In fact, events during the period since the Tufta talks were suspended in early 2006 demonstrate the need to and cement the gains in trade and investment that would be achieved through Tufta.
Both countries experienced political changes that affected trade and investment policy -
Tufta would have insulated the Thai-US economic relationship from these political changes.
If Tufta had already been in place, many of the trade disputes between
The ongoing
The Tufta talks were suspended because the Thaksin government had lost its mandate. Politically, although not legally, the
It would appear we are now in the converse situation where the Thai government has a mandate to resume the Tufta talks yet the
Nevertheless,
Resuming the Tufta talks would also give the Thai government an additional forum, and perhaps even some additional diplomatic tools, for dealing with sticky trade issues such as the continuous customs bonds, "zeroing" and GSP.
Perhaps most importantly, the Thai government can use this period until TPA resumes in 2009 to educate and engage Thai civil society on the benefits of the Tufta. Tufta became controversial because of issues related to intellectual property and agriculture, among others.
Through open outreach, the Thai government can explain the immediate benefits and opportunities that would result from the Tufta, as well as other Thai FTAs under negotiation or implementation such as those with Japan, and the Asean-EU, Asean-Korea, Asean-China and Asean-Japan agreements. Indeed, the absence of TPA may even allow for a more relaxed environment conducive to long-term thinking in both Thailand and the United States.
Malaysia has faced similar issues in its own FTA talks with the United States. Based on its own national interest, Malaysia has made a calculated choice to continue with its own FTA talks with the United States, despite the US administration's lack of TPA authority. The Thai government should make that same choice.
In sum, resuming the Tufta talks will provide Thailand with short-term tactical gains in trade diplomacy while offering long-term possibilities in economic growth. The Thai government should also take advantage of this TPA-free period to lay the groundwork for a full and engaged discussion of Tufta, so that all sides can participate and engage in the process. It's time to get the process back on track.
Edmund Sim is an International Trade Partner with Hunton & Williams LLP. He can be reached at esim@hunton.com
EDMUND SIM
Tuesday February 26, 2008
Source: www.bangkokpost.com
Các tin khác
- Việt Nam's steel industry must optimise technology, save energy to promote export to EU (27/03/2024)
- Take advantage of shrimp export opportunities right from early year months (27/03/2024)
- Good signs for Vietnam's rice exports (27/03/2024)
- Việt Nam urges Brazil to remove barriers for seafood to this market (27/03/2024)
- Pepper exports decline in both volume and value in two-month period (27/03/2024)