Peru joins CPTPP, the most ambitious agreement in the world

Exports. Photo: ANDINA/ Archive.

Exports. Photo: ANDINA/ Archive.

13:26 | Tokyo (Japan), Jan. 24.

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.

"We have reached the most ambitious and important agreement in the world," Ferreyros pointed out.

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.


Published: 1/24/2018