reported that the countries comprising the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Costa Rica have reached a substantial conclusion of negotiations on the terms and conditions for Costa Rica's accession to the treaty.
The substantial conclusion of the negotiations means that the CPTPP countries and Costa Rica have reached a consensus on the most complex aspects of the talks.
Only minor technical matters and the legal review of Costa Rica's Accession Protocol to the CPTPP are still pending.
"The announcement of the substantial conclusion reaffirms the CPTPP as a benchmark for international trade. Its expansion is vital to defending rules-based trade," Foreign Trade and Tourism Minister Jose Reyes stated.
"Peru has reaffirmed its role as a key player within the bloc by chairing Costa Rica's Accession Working Group," he added.
The CPTPP is made up of Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, Japan, New Zealand, Peru, the United Kingdom, Singapore, and Vietnam.
Together, they account for 12% of the global economy and represent a market of 502 million potential consumers.
As previously reported, this process began in November 2024, following the Ministerial Commission's decision to establish a Working Group on Costa Rica's Accession to the CPTPP, chaired by Peru.
"Once Costa Rica's Accession Protocol to the CPTPP is signed and enters into force, Costa Rica will become the bloc's thirteenth economy, strengthening Latin America's presence in global trade," he underscored.
CPTPP in figures
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) accounts for more than 16% of Peru's exports worldwide.
In 2025, the trade balance totaled US$7.781 billion, marking a 59% increase compared to the previous year.
Between 2018 and 2025, trade among CPTPP members grew at an average annual rate of 5.1%, surpassing US$700 billion in 2025.
Among the main products exported by the CPTPP worldwide are crude oil, processors, and gold.
Meanwhile, the three leading products traded within the bloc are refined petroleum, gold, and electronic integrated circuits.