Peru praises UK for conclusion of CPTPP negotiations – Andina – Agencia Peruana de Noticias

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said on Saturday.

Said accession will contribute to deepening our economic relations and creating new opportunities for micro, small, and medium enterprises, it concluded.

At said event, they announced the substantial conclusion of the aforementioned negotiations.

“This accession process is extremely important since, if consolidated, it would be the first economy to join the CPTPP after the initial subscription. This would increase, even more, trade opportunities among its members,” the sector’s head highlighted.
The CPTPP —one of the most comprehensive and ambitious agreements— is made up of 11 Asia-Pacific region economies: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore, Vietnam, and Peru. Together, these account for 15% of international trade, 13% of world’s GDP, and a market of 500 million consumers.

With the United Kingdom’s accession, better access conditions will be obtained for Peruvian exports of goods and services, as well as for the temporary movement of Peruvian businesspeople and for e-commerce.

Likewise, with the cumulation of origin, Peruvian companies will be allowed to export and use inputs from other member countries, relying on more supply opportunities.