Peru to partner with leading countries worldwide thanks to TPP

The Minister of Foreign Trade and Tourism (Mincetur) Magali Silva said the Peruvian market will be one of the most favored among those participating in the Trans-Pacific Partnership Agreement (TPP), as it will allow the country to partner with leading nations worldwide.


Peru will join a huge market consisting of eleven other economies whose combined purchasing power totals US$5.2 billion.


Currently, Peru sales to these eleven economies account for just 0.25% of everything they buy, so the room for improvement in such field is huge.


“Furthermore, the incorporation of our market to the TPP block will allow us to position ourselves in the highest commercial standard and maximize our business opportunities," the minister said.


Priority Partners


“TPP members are priority partners for Peru,” Silva noted.


"The United States is a leading world power and one of the greatest technological innovators, while Canada is one of the most educated nations in the world with a dynamic immigration policy. Mexico and Chile are also key partners of Peru in the Pacific Alliance," she noted.


The minister also noted the importance of TPP partners outside the Americas.


Australia and New Zealand are also first-world nations, and the only ones located in the southern hemisphere. Singapore, Malaysia, Vietnam and Brunei are dynamic Southeast Asian economies that have seen rapid progress in recent decades, from which we can learn a lot.


These economies have economic cycles linked with those of China and India, which lead the growth of emerging countries.


"Finally, Japan, which is already one of Peru’s major trading partners of, is one of the traditional economic and technological powers of the world," Mincetur’s head said.