The Ministry of Foreign Trade and Tourism (Mincetur) stated that Peru continued to negotiate the terms of the Trans-Pacific Partnership Agreement (TPP), a market with 805 million consumers, with eleven economies of the Forum of Asia-Pacific Economic Cooperation (Apec).
These economies are Australia, Brunei, Canada, Chile, United States, Japan, Malaysia, Mexico, New Zealand, Singapore and Vietnam.
The head of Micetur, Magali Silva, said that the TPP was an agreement that would strengthen trade, economic growth, development and employment generation in Peru because it was a means for the country to export its supply to a market with 805 million consumers.
She added that these countries represented 37 percent of the world's GDP and 25% of global exports.
During her presentation before the Foreign Relations Committee of Congress, the minister said that negotiations on the Trans-Pacific Partnership were in their final stage and that they expected they would be completed during 2015.
She stressed that the benefits for the country were gaining access to five new markets with tariff preferences (Australia, New Zealand, Brunei, Malaysia and Vietnam) and improving conditions with those countries with which Peru already has trade agreements.
"The TPP countries jointly buy $5.2 billion dollars and that is the market that Peru will be entering," she said.
She added that it was a potential market of $2,250 million dollars for fruits and vegetables, Andean grains, fish products, cotton textiles and alpaca is estimated.
"The TPP will allow Peruvian exporters to use inputs from TPP countries to develop a product and then export it to other markets that make up the agreement with tariff preferences. They'll also be able to export products that can be integrated into TPP value chains," she said.
Source: ANDINA