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Published on April 25, 2008

Petchanet Pratruangkrai

The Nation

Chutima Bunyapraphasara, director-general of the Trade Negotiations Department, said the pre-signing was in accordance with Japan's intention to circulate the pact to all Asean members.

"Officers from the Foreign Affairs Ministry, the Ministry of Economic, Trade and Industry of Japan, and the Thai and Japanese ambassadors witnessed the signing ceremony."

On April 11, Mingkwan signed the AJCEP pact with little fanfare, creating public disquiet.

The Cabinet approved the pact for signing on March 25. Chutima said that under the Constitution, the agreement would be discussed at public hearings before being ratified by Parliament.

The pact should increase Thai exports by 25 per cent as it would open market access to 71 products under the existing Japan-Thailand Comprehensive Economic Partnership.

Asean exports to Japan are estimated to rise by US$20.63 billion (Bt648.6 billion) from the current $81.28 billion, while imports are set to reach $80.49 billion.

Japan is Asean's largest trading partner with a combined value of $1.62 trillion a year.