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Peru to reaffirm open-trade policy thanks to TPPThursday, February 04, 2016 > 09:25:47
Peru will be able to reaffirm its open-trade policy by signing the Trans-Pacific Partnership (TPP) agreement, Peru's Foreign Trade and Tourism Minister Magali Silva affirmed on Wednesday.
TPP is composed of 12 member countries of the Asia-Pacific Economic Cooperation (APEC). It aims to promote economic growth, enhance innovation, productivity and competitiveness, as well as reduce poverty, among others.
Over recent years, Peru has moved towards trade openness and global integration, leading to positive results for national exports, especially non-traditional ones.
"We have [signed] 17 Free Trade Agreements, currently in force with 52 countries, which have allowed the country to carry out exports by relying on tariff preferences and thus position Peruvian products on those markets," the Minister underlined.
Silva pays a visit to Auckland city (New Zealand) with the aim of inking the covenant, as will counterparts from other 11 nations.
The officer also reminded Peru expressed its willingness to join the TPP bloc within the framework of the APEC Peru 2008 Summit held in Lima.
In this sense, Peruvian President Ollanta Humala decided to continue the negotiation process aimed at boosting the insertion of small- and medium-sized enterprises (SMEs) into international trade activities.
SMEs and Development
Upon Peru's proposal, TPP includes a chapter related to SMEs, which seeks a proper implementation of this alliance by introducing productive units into the global value chains.
It must be noted TPP is the first trade agreement that comprises a specific section on development, which is essentially focused on inclusive growth, gender equality, as well as the education, science and technology promotion.