Peru and the other 10 remaining Trans-Pacific Partnership (TPP) members wrapped up negotiations on a new Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), Foreign Trade and Tourism Minister Eduardo Ferreyros informed.
This trade agreement involves 11 countries from the Asia-Pacific region:
Australia, Brunei, Canada, Chile,
Japan, Mexico, Malaysia, New Zealand, Peru, Singapore, and Viet Nam.
Likewise, he highlighted this negotiation constitutes a key step to consolidate the country's presence in the world and —especially— in the Asia-Pacific region.
It must be noted the cabinet member held meetings with his counterparts from the aforementioned nations in
Da Nang (Viet Nam) last November to establish CPTPP's main terms.
Note:
• An agreement among Peru and the 10 countries making up the CPTPP will grant the Andean nation access to a market whose GDP accounts for 13% of the world's total GDP.
• Peru will also have preferential access to a market with a high-level purchasing power (amounting to 463 million people), an average GDP per capita of US$22,000 (twice the GDP per capita of the world in 2016).
• In May 2017, foreign trade ministers of TPP signatory countries agreed to assess the options to reach a new agreement following the United States' withdrawal.
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