Somkid urges more investments in Myanmar to ease impact from US TPP pullout

Deputy Prime Minister Somkid Jatusripitak yesterday urged more Thais to invest in Myanmar to alleviate economic impact after the United States officially pulled out of the Trans-Pacific Partnership (TPP) trade deal.

Call by the deputy prime minister in charge of economic affairs was made as he addressed Thai and Myanmar investors at a seminar in Myanmar yesterday, according to National News Bureau of Thailand.

At the seminar entitled Thailand-Myanmar Business Cooperation, Dr Somkid asked Thai businesses to form partnerships with Burmese businesses while assuring the Burmese private sector of the Thai government’s intention to increase trade and investment activities along the border.

He said stronger economic ties between the two nations will help alleviate the impact of the United States pulling out of the 12-nation TPP trade deal that covers up to 40 percent of world’s economy.

He also voiced his confidence in the intentions of member countries to finalize the Regional Comprehensive Economic Partnership (RCEP), a mega-regional economic agreement being negotiated between the 10 ASEAN nations and six FTA partners namely Australia, China, India, Japan, New Zealand, and South Korea.

Source: Thai Public Broadcasting Service (Thai PBS)

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