Peru: Countries negotiate Trans-Pacific Partnership

Representatives from Mexico, Japan, Chile, Canada and Australia expressed their expectations about the benefits from accessing new markets, trade integration and investments the Trans-Pacific Partnership will lead into, Peru’s Foreign Trade and Tourism Ministry affirmed.


The Trans-Pacific Partnership (TPP) negotiation will conclude by the end of the month, following the meeting between member countries' ministers and heads of delegations that sets the bloc's rules, Peru’s Minister of Foreign Trade and Tourism (Mincetur) Magali Silva said previously.


In this sense, Silva pointed out that 16 out of the 20 chapters have already been closed, and the remaining four (market access, rules of origin, intellectual property and environmental affairs) have been subjected to adjustments of terminology and interpretation.


The government official noted that the TPP Agreement being negotiated between Australia, Brunei, Chile, the United States, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam is the most important economic and trade bloc in the world.


“The TPP is the most important economic, trade bloc in the world, even larger than the European Union,” she said previously.