Andina

APEC 2024: Peru wants to leave Comprehensive Free Trade Area as legacy

Photo: ANDINA/Vidal Tarqui

Photo: ANDINA/Vidal Tarqui

14:00 | Lima, Nov. 1

Foreign Affairs Minister Elmer Schialer stated that one of the legacies that Peru hopes to leave from its pro-tempore presidency of the Asia-Pacific Cooperation (APEC) forum is to move towards a comprehensive free trade area in the Asia-Pacific and the transition from an informal economy to a formal one.

"We want to move towards a comprehensive free trade area, and I think that Peru desires the integration of informal actors into the formal sector," he told Andina News Agency.

In this regard, the ambassador deemed it very important that during the Economic Leaders' Week of the 21 APEC economies, to be held in Lima soon, a roadmap be established to assess how from now on a comprehensive trade agreement can be achieved.

He said that within APEC economies there are several trade agreements, such as the Pacific Alliance and the Association of Southeast Asian Nations (ASEAN), among others. However, there is no comprehensive agreement for the large geo-economic space that is the Asia-Pacific region.

"We are going to try to integrate this, a roadmap for a great free trade area," he said.

According to the minister, another legacy that Peru wants to leave from the leadership of APEC 2024 is the transition from informal economy to a formal one a problem that affects Peru and several economies in the region along with the 'APEC for the People' initiative as a permanent line of action in the region.

"What Peru also wants, without a doubt, is for this to be the most important showcase of our time for Peru and, therefore, for new investments to flow into the country," he stated.


Peru is hosting APEC for the third time after the 2008 and 2016 editions.


(END) FHG/CVC/MVB

Published: 11/1/2024