Signing the Trans-Pacific Partnership (TPP) Agreement denotes making great step towards economic development of the country, Peruvian Prime Minister Pedro Cateriano affirmed on Thursday.
The President of the Council of Ministers noted the accord will allow Peru to join other 11 global economic powers and to strengthen commercial activities within the bloc, the planet's largest trade area, which accounts for nearly 40% of world's GDP.
Finally, the politician stressed TPP is a "solid agreement," which will have a positive impact on increasing national exports.
Likewise, it will lead to generating opportunities for small and medium-sized enterprises (SMEs), so they will become suppliers to member States.
TPP was inked by Trade Ministers and representatives of Australia, Brunei, Canada, Chile, Peru, United States, Japan, Malaysia, Mexico, New Zealand, Singapur and Vietnam in Auckland.
Thus, Peru managed to consolidate five new FTAs with New Zealand, Australia, Malaysia, Vietnam and Brunei Darussalam.
(END) FHG/FHG/HMC/MVB