The Government of Peru has ordered the implementation of the
By
Supreme Decree No. 004-2024-MINCETUR, published in the Official Gazette El Peruano on Tuesday,
the execution of the Bilateral Letter with the United Kingdom on the application of Article 18.38 regarding the Grace Period was also ordered.
The
Ministry of Foreign Trade and Tourism (Mincetur) will
inform the relevant entities of the provisions necessary for the proper implementation of the United Kingdom's Accession Protocol to the CPTPP and the Bilateral Letter with the UK on the application of Article 18.38 regarding the Grace Period.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trade agreement made up of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore, Viet Nam, and Peru.
The recitals of the regulation recall that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership was signed in Santiago, Chile, on March 8, 2018. It was put into effect in Peru as of September 19, 2021.
Similarly, the United Kingdom's Accession Protocol to the CPTPP was signed simultaneously in Auckland (New Zealand) and Bandar Seri Begawan (Brunei Darussalam) on July 16, 2023, along with other related instruments, including the Bilateral Letter with the UK on the implementation of Article 18.38 with respect to the Grace Period.
The United Kingdom's Accession Protocol to the CPTPP must enter into force 60 days after the 15-month period expires from the date of its signature. Therefore, it will begin implementation on December 15, 2024.