91% of exports are covered by trade agreements | Economie

The Minister of Foreign Trade and Tourism, Roberto Sanchez, confirmed that 91% of exports are covered by trade agreements concluded by Peru, which indicates the importance of trade agreements for the entry of Peruvian products into other markets.

“91% of everything we export is covered by state trade agreements. The Andina News Agency reported that in 2006 the figure was only 8%.”

He noted that Peru has 22 trade agreements in effect and therefore has preferential access to 83% of global gross domestic product (GDP) and 43% of the world’s population.

He then stated that the Ministry of Foreign Trade and Tourism (Mincetur) continues to work to expand the network of (commercial) agreements, which currently has several agreements under negotiation.

Thus, with China, four rounds of negotiations have been held so far, five have been carried out for India, with a sixth round expected in early 2022, and with Nicaragua, a third round is expected in the coming weeks.

He said the agreement with Singapore is expected to be signed in the Pacific Alliance, and then negotiations with Korea and Ecuador are expected to begin.

He said that in the CPTPP (Comprehensive and Progressive Treaty on Trans-Pacific Partnership), negotiations are currently underway with the UK to be the next member of the bloc.

He noted that two rounds of negotiations have been held with Argentina and the third is pending, and various initiatives are being negotiated with the World Trade Organization, such as fisheries support, investment facilitation for development, trade in services and e-commerce.

See also  The World Bank appoints a former Senegalese Minister of Finance to a key position

Added to this is the rapprochement with other countries, for example, with Uruguay, there is a deepening of the ACE (Economic Complementary Agreement) 58 and it is expected to revitalize negotiations with El Salvador.

In addition, they are waiting for the start of negotiations with the Eurasian Economic Union and there is an interest in starting trade negotiations with the Dominican Republic, he said.

multisectoral committee

At another time, he pointed out that the multi-sectoral foreign trade facilitation committee plays an important role in economic revitalization and the continuity of the sector’s logistics chain.

He stated that with regard to international logistics, there is a plan to mitigate the impact of shipping on foreign trade, as the shipping crisis around the world in recent months has affected the competitiveness of foreign trade.

He pointed out that this came as a result of the increase in freight rates, the shortage of containers and congestion in the main ports, in addition to the cost excesses assumed by exporters.

So, “In this space An action plan is being developed with the members of the Committee: Indecopi and Ositrán, to take measures and mitigate the impact of the increase in freight rates on the competitiveness of Peru’s foreign trade“, pointed out.

On the other hand, he emphasized that as of September this year, the shipments reached before the epidemic had already been exceeded, and he expected a new record-setting approach.

It also highlighted the importance of the export sector for economic revitalization and decentralized job creation.

Leave a Reply

Your email address will not be published. Required fields are marked *