Peru and the other 10 remaining Trans-Pacific Partnership (TPP) members wrapped up negotiations on a new Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), Foreign Trade and Tourism Minister Eduardo Ferreyros informed.
This trade agreement involves 11 countries from the Asia-Pacific region: Australia
, Brunei, Canada, Chile, Japan
, Mexico, Malaysia, New Zealand, Peru, Singapore, and Viet Nam.
Likewise, he highlighted this negotiation constitutes a key step to consolidate the country's presence in the world and —especially— in the Asia-Pacific region.
It must be noted the cabinet member held meetings with his counterparts from the aforementioned nations in Da Nang (Viet Nam)
last November to establish CPTPP's main terms.
• An agreement among Peru and the 10 countries making up the CPTPP will grant the Andean nation access to a market whose GDP accounts for 13% of the world's total GDP.
• Peru will also have preferential access to a market with a high-level purchasing power (amounting to 463 million people), an average GDP per capita of US$22,000 (twice the GDP per capita of the world in 2016).
• In May 2017, foreign trade ministers of TPP signatory countries agreed to assess the options to reach a new agreement following the United States' withdrawal.