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Negotiations for Peru to join P4 to take at least two years

Andina | 24 March 2010

Negotiations for Peru to join P4 to take at least two years

Quito, Mar. 24 (ANDINA).- The negotiations for Peru to join the Trans-Pacific Strategic Economic Partnership Agreement (TPPA), known as P4, could take at least two years because of different interests among the eight countries who participate in the negotiations, the Ministry of Foreign Trade and Tourism (Micetur) reported Wednesday.

The more number of countries participating in a trading negotiation, the longer and more complex the process will be, explained Foreign Trade deputy minister, Eduardo Ferreyros.

“This is a negotiation that takes as basis an already existing agreement, the P4, that has been effective for three years, but in these new meetings each country has its own interests and at the end there are eight different countries with particular interests”, he told Andina.

United Stated, Australia, Vietnam and Peru, which seek to join the P4 consisting on New Zealand, Chile, Singapore and Brunei Darussalam, participate in this negotiation.

Ferreyros stressed that Peru’s main interest is to determine the coexistence of TPPA with other bilateral agreements with countries like United States, Singapore and Chile.

The II Round of Negotiations will take place in the United States from June 14 to 18.

 source: Andina