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10:59 | Lima, Sep. 19.
The Ministry of Foreign Trade and Tourism (Mincetur) has reported that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) —the most important free trade agreement in the world— has entered into force for Peru.
Thus, the South American nation becomes the eighth economy where the agreement comes into effect, which marks a milestone for the country’s foreign trade.
Together, they account for 13% of world’s GDP and 15% of global trade.
Boost to regional exports
Trade agreements are essential for the growth and development of national exports, which result in a higher boost of Peruvian sales to the world, generating higher revenues and more jobs in the nation.
In this sense, the CPTPP provides greater benefits for non-traditional exports with added value.
The CPTPP features chapters on access to markets, e-commerce, investment, customs, health measures, and technical obstacles to trade. Likewise, it is a modern agreement aimed at providing sustainable growth for its members.