Peru signed the CPTPP on March 8, 2018, in Santiago, Chile (Photo internet reproduction)
The decision was taken with 97 votes in favor and 9 abstentions. It included a series of letters from countries such as Australia, Canada, and Malaysia reaffirming a series of agreements regarding products, cultural industries, and dispute settlement.
In supporting the proposal, the president of the Congressional Foreign Relations Commission, Gilmer Trujillo, of the Popular Force (FP), pointed out that the CPTPP seeks to establish a free trade zone by incorporating or referring to the text of the Trans-Pacific Partnership Treaty (TPP).
Trujillo added that approving the agreement was of “strategic relevance” for Peru. It will allow it to access the markets of 11 member countries, with a total population of 502 million inhabitants, a 13.5% share of global GDP, and 14.5% of global trade.