Peru reaffirms its adherence to the CPTPP: a boost for trade and investment.

The recent ratification of Peru's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) marks a crucial milestone in the country's commercial integration in the Asia-Pacific region. This agreement, which brings together dynamic economies such as Australia, Japan, Canada, and Mexico, among others, not only represents an opportunity to foster economic growth but also opens the doors to a more fluid and diversified trade exchange. This context is especially relevant in a year where Peru's presidency in the Asia-Pacific Economic Cooperation (APEC) Forum has captured attention. However, it is essential that Peruvian companies not only focus on this event but also recognize the potential presented by the CPTPP. This agreement is not just a trade treaty; it is a framework that promotes the modernization of economic relations, covering everything from e-commerce to investment. The incorporation of the United Kingdom into the CPTPP, formalized in July 2023, reinforces the importance of the agreement. With this expansion, the CPTPP represents 15% of global Gross Domestic Product (GDP), meaning that Peruvian companies have the opportunity to access a much broader market. The ratification of Peru's accession positions the country as a key player in this regional dynamic, favoring not only the trade of goods but also investment and technology transfer. One of the most notable aspects of the CPTPP is the possibility of trading without tariffs under a unique set of rules of origin. This offers significant advantages to Peruvian companies, which can combine inputs from different member countries and export finished products without the additional costs associated with tariffs. For example, the export of Peruvian products such as avocados or limes can be facilitated by the ability to incorporate inputs from Japan or Canada, thereby increasing the competitiveness of these products in distant markets like the UK. The positive impact of this cooperation can be observed in various productive sectors in Peru. From alpaca fibers in Arequipa to agricultural products on the northern coast, the CPTPP presents a platform for diversifying exports and adding value to national products. The collaboration with the Ministry of Foreign Trade and Tourism (Mincetur) has allowed Peruvian exporters to explore new opportunities, increasing productivity and generating employment in the process. In addition to commercial opportunities, accession to the CPTPP gives Peru the ability to choose between different trade agreements. This means that companies can make more informed decisions about how and where to market their products, optimizing tariff benefits and other administrative aspects related to each treaty. This flexibility is crucial in an increasingly competitive business environment. The relevance of the CPTPP extends beyond trade borders. In a world characterized by geopolitical and economic uncertainty, being part of a group that defines the rules of international trade allows Peru to actively participate in shaping policies that favor free trade and economic security. This not only benefits companies but also contributes to the sustainable development of the country. With the growing middle-class population in the Asia-Pacific region, which will represent nearly half of the global total in the coming decades, opportunities for Peruvian exporters multiply. This context underscores the importance of staying informed about developments in the CPTPP and preparing to make the most of the advantages it offers. Overall, Peru's accession to the CPTPP represents a decisive step toward integration in a globalized economic environment. Companies must pay attention to these opportunities and prepare to navigate this new trade framework. With a proactive vision, the country can not only benefit from existing markets but also position itself as a leader in international trade. Finally, it is time for both Peruvian companies and the government to align and work together to maximize the benefits that this accession to the CPTPP brings. Collaboration and innovation will be key to facing future challenges and enhancing sustainable economic growth in Peru.