The United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPPfor its abbreviation in English) provides opportunities to deepen Peru’s strong and lasting relationship with that country as it improves trade and investment opportunities.
Juan Carlos Mathews, Minister of Foreign Trade and Tourism, and Nigel Huddleston, Secretary of State for International Trade of the United Kingdom, expressed this in a joint statement after the second trade dialogue between the two countries held in Lima on October 13. .
Read also: UK signs entry into Trans-Pacific Free Trade Agreement: How does it benefit Peru?
Promote bilateral trade
The two officials welcomed the further promotion of bilateral trade and cooperation. They confirmed that in addition to the customs reductions, CPTPP It allows both countries to further liberalize the UK-Peru trading relationship and work to unlock opportunities in sectors that drive sustainable growth and prosperity.
The Ministers also agreed to continue working together as advocates for openness, fair and free trade at the multilateral level, including the World Trade Organization. In addition, they acknowledged the progress made in pushing bilateral trade to record levels and committed to continuing efforts to identify new opportunities and remove trade barriers.
In this sense, they asked to continue monitoring the negotiations on a double taxation agreement that provides trade certainty and enhances investment and competitiveness.
Finally, they welcomed the launch of the bilateral trade assessment on trade in goods and services, with the aim of finding ways to deepen and strengthen bilateral trade relations.
Read also: New partner for Peru: UK joins Trans-Pacific Free Trade Agreement
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