Andina

Peru highlights commitment to multilateral trade system

Photo: Ministry of Foreign Affairs of Peru

Photo: Ministry of Foreign Affairs of Peru

13:52 | Lima, May. 7.

Foreign Trade and Tourism Minister Elizabeth Galdo held a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala, at which she highlighted Peru's commitment to the multilateral trade system, as well as the willingness to work jointly for more inclusive trade.

"Peru reaffirms its commitment to actively contributing to dialogues on WTO reform, the ongoing negotiations -particularly those related to fishery subsidies and electronic commerce- and issues still pending for further progress, such as negotiations on agricultural trade with a view to working towards a more responsive body that can facilitate greater predictability and transparency to the global trading environment," she expressed.

As is known, the WTO is a body essential for Peru's trade policy and international negotiations, being the only institution that regulates international trade; that means all negotiations, as well as regional and bilateral trade agreements to which Peru is a party.

During the meeting, priority issues for the development of Peruvian trade were addressed, such as services exports and e-commerce.

In this regard, Minister Galdo highlighted the positive impact of said sector on job creation, contribution to GDP, and innovation promotion.

In Peru, trade in services related to tourism and telecommunications have stood out in 2023 and are part of the tools for national economic recovery.

Meeting with State ministers

Prior to the gathering with Mincetur's head, various Executive Branch sectors held a meeting with the WTO director-general at which points of view were exchanged on Peru's work within the framework of said organization, the progress made in trade matters for the country's economic development, and Peruvian contribution to the work of said organization.

Minister Elizabeth Galdo reaffirmed Peru's interest in working to strengthen the multilateral trade system and the commitment to contribute to dialogue, with the aim of achieving a more inclusive and transparent WTO, which enables all its members to harness and benefit from the opportunities provided by international trade.

Similarly, the progress in the second phase of negotiations linked to the Agreement on Fisheries Subsidies was addressed. There, Peru continues to have an active participation, as well as the interest in seeing said Agreement come into force.

It must be noted that Peru was the first Latin American country to ratify this Agreement and deposit the instrument of acceptance in the WTO.

The Mincetur head also expressed Peru's commitment to the discussions and start of negotiations on agricultural trade, which lead to creating equitable conditions for international trade in the sector. 

Lastly, she mentioned the importance of continuing to work on e-commerce and establishing clear rules for the development of Peruvian MSMEs.

Deputy Foreign Trade Minister Teresa Mera, as well as authorities from the Ministries of Foreign Affairs, Women-Vulnerable Populations, Agrarian Development-Irrigation, Production, and Environment participated in this gathering.

This event took place at Torre Tagle Palace in the Peruvian capital, Lima.

(END) NDP/CNA/MVB

Published: 5/7/2024