Peru already belongs to the most important trade bloc after having consolidated the Trans-Pacific Partnership Agreement (TPP) on Monday, which will be highly beneficial to the country, the Ministry of Foreign Trade and Tourism (Mincetur) highlighted.
Thus, Peru joins the most thriving and developed economies of Asia-Pacific area, along with Australia, Brunei, Darussalam, Canada, Chile, United States, Japan, Malaysia, Mexico, New Zealand, Singapore and Vietnam.
Likewise, its inclusion into the TPP confirms that the country has managed to maintain its foreign trade policy on the right track and to reaffirm its way towards development, Mincetur said.
The TPP consolidation process was possible after multiple negotiation meetings were held for over five years. It consistently adheres itself to an integration path towards the world, which Peru has maintained for nearly 25 years.
Likewise, it joins 17 trade agreements (bilateral, multilateral and regional) signed with the most powerful economies and countries from every corner of the planet.
Thus, Peru becomes the third Latin American nation to join this agreement aimed at redrawing the foreign trade world map. TPP comprises an 805 million consumer-market.
They will be allowed to acquire supplies from other 11 TPP countries at competitive prices, add them to their national production processes and export value-added goods to any of the said countries after being granted previously-negotiated tariff preferences.
Likewise, it will allow to provide supplies to other TPP member-nations, which will incorporate them into regional and global value chains.
Only TPP member countries will rely on benefits of this great free-trade area.
(END) NDP/AVV/MVB