LatinNews Daily - 15 July 2021

* Peru’s congress has ratified the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP) Asia-Pacific regional free trade agreement (FTA) with 97 votes in favour, none against, and nine abstentions. Inked in March 2018 in Chile, the CPTPP has been signed by 11 of the 12 countries that had negotiated the Trans-Pacific Partnership (TPP) regional trade deal after the US opted to abandon it. The president of the congressional foreign relations committee, Gilmer Trujillo Zegarra, said the new agreement would give Peru access to the markets of the 11 CPTPP member countries, which together have a population of 502m and account for 13.5% of global GDP and 14.5% of global commerce. The members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, and Vietnam although Brunei Darussalam, Chile, and Malaysia have yet to complete their respective ratification processes.

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