The government will consult with the National Legislative Assembly (NLA) about all free-trade agreements in order to seek a mandate, said Deputy Prime Minister and Finance Minister MR Pridiyathorn Devakula.

Pridiyathorn met yesterday with Commerce Minister Krirkkrai Jirapaet and high-level officials to give them a policy framework regarding the FTAs as well as other administrative directions.

Pridiyathorn added that all FTAs that have either been inked or are being negotiated will be proposed for the NLA's consideration.

Particularly, the NLA's decision will pave the way for the implementation of the Japan-Thailand Economic Partnership Agreement (Jtepa), which is awaiting the signatures of the leaders of the two countries. In addition, the US is ready to restart free-trade talks with Thailand after stalled negotiations.

 "The process will allow the public to have a better understanding of the FTAs and the transparency of the negotiations," Pridiyathorn said, adding that the media will help the government achieve its goals.

 Krirkkrai said that the ministry would start studying both the positive and negative impacts of every agreement. Then it will present the results to both the Cabinet and the NLA for consideration.

 Thailand is negotiating bilateral trade pacts with seven countries and groups of countries. These include China, India, Japan, Peru, the United States, the European Free Trade Association (Efta) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec).

The Kingdom has already concluded free-trade pacts with Australia and New Zealand, while it has been considering to start negotiations with the EU and Chile.

Krirkkrai has instructed the Bimstec team to continue the negotiation process, a source at the Commerce Ministry said.

The source said some FTA agreements should be reviewed in detail, such as the rules of origin under Jtepa and intellectual property protection on pharmaceuticals under the Thai-US FTA. The issues have been questioned by the Thai private sector, which is fearful of certain impacts in the future.

 In addition, Deputy Prime Minister and Industrial Minister Kosit Panpiemras said yesterday that the government's economic policy draft had been completed and will be proposed to the Cabinet meeting today.

He said the economic policies of the one-year interim government will be based on two key principles: continuation of existing policies and an adjustment of Thai economic development policies to be in line with the country's changed environment.

Moreover, the economic policy must also be in line with moral principles and reconciliation based on four key frameworks: transparency, fairness, frugality and efficiency.

"If economic policies or projects of the former government do not comply with these four rules, they need to be improved. Within the limited timeframe, the government can't adjust all the projects of the former government, but can do so selectively," Kosit said.

As industrial minister, Kosit said he would consider whether to review two projects: Bangkok Fashion City and Thailand World Kitchen.

Kosit, moreover, said the government's economic policy was also based on the sufficiency-economy philosophy. For the private sector, the government wants business operators to be able to rely on themselves, while the government would also support them.

"In the new economic trend, the government would be the private sector's partner and they should rely mainly on a knowledge base. Business operators should reduce government dependency because this is in conflict with the free-market system," he added.

 Meanwhile, in response to domestic administration, Pridiyathorn also ordered the ministry to study how to manage the rice-pledging programme and other agricultural commodities such as tapioca.

 He said the government is considering how to continue the rice-pledging programme and will soon ask for the approval of the Farmers Assistance Measurement Policy Committee and the Rice Policy Committee.

The government is also planning for the Insurance Department to become an independent organisation by next year. To facilitate the plan, an Insurance Commission - with an administration and operation similar to the Securities and Exchange Commission - will be established.

Petchanet Pratruangkrai,

Somruedi Banchongduang

The Nation