Following Peru's ratification, the
came into force on December 15, which will bring additional benefits for the trade of certain Peruvian products.
These include starches, lactose, fructose, orange juice, meat and edible poultry offal, concentrated milk, yogurt, butter, cheese, garlic, mushrooms, corn, rice, cocoa powder with added sugar, artichokes, as well as fresh or frozen oranges, and tangerines.
The United Kingdom's accession creates more opportunities for Peruvian and British companies to export their services in sectors such as architecture, engineering, finance, construction, IT, software, business consulting, tourism, call centers, distribution and franchising.
Similarly, it eases access for the movement of Peruvian businesses seeking to enter the UK and vice versa.
The protocol —signed on 16 July 2023 after a two-year negotiation— will allow the United Kingdom to become the first economy to join the 11 countries already part of the CPTPP: Peru, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore, and Viet Nam.
With the incorporation of the UK, the CPTPP will have an accumulated GDP of US$15.7 trillion, accounting for 15% of world's GDP.
The CPTPP has allowed for strengthening Peru's international outreach, our country's integration into the Asia-Pacific, and its commitment to a policy of economic and commercial openness.