In an unprecedented milestone for the national trade policy, Peru was elected to chair the
The election of Julio Jose Chan Sanchez, the current APEC General Coordinator from Mincetur's Deputy Ministry of Foreign Trade, was unanimously approved by the 21 economies that make up the bloc during the Third Senior Officials' Meeting (SOM3) held in Incheon, South Korea.
"Following Peru's outstanding performance in APEC 2024, this election reflects the economies' confidence in our capacity to build consensus. With this chairmanship, we will further strengthen Peru's image across the Asia-Pacific region," Minister Leon underscored.
Leadership in CTI
The Peruvian government official highlighted that the CTI is APEC's main body responsible for advancing the region's trade and investment agenda.
Its work focuses on trade liberalization and facilitation, investment promotion, and the advancement of digitalization as a driver of economic development.
The
document was approved by leaders last November during APEC Peru 2024.
Within this responsibility, Peru will lead the three plenary meetings of the CTI in 2026 and 2027, report the committee's progress during the Senior Officials' Meetings, and actively participate in the gatherings of the APEC Business Advisory Council (ABAC).
It is important to mention
that APEC is composed of 21 economies: Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei, Thailand, the United States, and Viet Nam.
Together, they represent 61% of the world's GDP, 37% of the global population, and 46% of international trade.
Since 1998, Peru's trade with these economies has increased tenfold, reaching US$81 billion in 2024, equivalent to 64% of the country's total foreign trade.