Covid-19 puts damper on Thailand’s prospects of joining trans-Pacific trade pact

14 Sept 01:22 Key points summarised by AI

Thailand's Commerce Ministry withdrew its proposal to join the CPTPP following strong opposition from netizens and NGOs, who argued against the timing amidst the Covid-19 crisis.
Critics raised significant concerns about the trade pact's potential negative impacts on Thailand's medical patent rights, ability to produce essential medicines, and increased costs for farmers due to foreign patenting of plant species.
Opponents emphasized that the cons outweigh the pros, highlighting the inability to negotiate fair terms as an existing member and advocating for a focus on domestic supply chains during the uncertain global economic environment.
Government officials, academics, and opposition leaders concurred that the current global economic instability makes it an inappropriate time to rush into such a major trade agreement, calling for a more cautious and studied approach.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.