The Comprehensive and Progressive Treaty of Trans-Pacific Partnership entered into force for Peru
The Ministry of Foreign Trade and Tourism (Mincetur) announced that since Sunday, September 19, the Integral and Progressive Treaty of the Trans-Pacific Partnership (CPTPP), the most important free trade agreement in the world.
In this way, Peru becomes the eighth economy in this bloc that puts the treaty into effect, marking a milestone for our country's foreign trade. As it is recalled, the CPTPP is also made up of the economies of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore and Vietnam.
“The entry into force of the CTPPP represents an opportunity for our exporters, especially MSMEs, whose products will be able to enter, free of tariffs, a potential market of 500 million consumers. Likewise, it will allow Peru to strategically position itself within the Asia Pacific region ”, highlighted the head of Mincetur, Roberto Sánchez.
It should be noted that the economies of the CPTPP are among the most significant and dynamic in the world. These are located on three continents and represent, together, 13% of world GDP and 15% of international trade.
Boost to regional exports
Trade agreements are essential for the growth and development of national exports, which translates into a greater boost in Peruvian sales to the world, generating higher income and more jobs in the country.
In this sense, the CPTPP represents greater benefits for non-traditional exports, those that have added value, mainly those from the interior regions of the country. To date, the regions have a 41% share of non-traditional exports (US $ 1 million) that are destined for this economic bloc.
“Currently, the regions that make the largest non-traditional shipments to this block are Piura, Ica, La Libertad, Lambayeque and Moquegua. With the entry into force, exporters from all regions will have tariff preferences, making their products more competitive in these markets. From Mincetur, we will strengthen the supply and export capacity of MSMEs in all productive sectors of the country, so that they can take full advantage of the benefits of our trade agreements, ”the minister stressed.
The CPTPP includes chapters related to market access, electronic commerce, investment, customs, sanitary measures, and technical barriers to trade. In addition to this, it seeks the sustainable growth of its members, with chapters related to development, SMEs, environmental and labor issues, among others.
It also establishes a framework to promote trade in services between the countries of this bloc, creating opportunities for the movement of technicians and professionals and for the expansion of Peruvian companies that provide computer services, business consulting services, tourism, franchises. , among others.
Finally, with the entry into force of the CPTPP, Peruvian products will arrive with tariff preferences in New Zealand and Vietnam, and, once they have ratified it, in Brunei and Malaysia. In other words, Peru acquires benefits and opportunities similar to having negotiated four new trade agreements.