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Peru

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On 21 February, 2019, the Department for International Trade (DIT) issued guidance entitled, Existing trade agreements if the UK leaves the EU without a deal, which sets out the status of those agreements (free trade agreements, economic partnership agreements, association agreements and customs union) that may not be in place by exit day. It also links to trade agreements that have been signed and mutual recognition agreements that have been signed.

On January 19, 2019, Global Affairs Canada reported that the inaugural Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission meeting was successfully concluded. The CPTPP Commission, consisting of representatives from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam (the countries for which the CPTPP has entered into force), met in Tokyo, Japan and concluded their session by issuing a Ministerial statement. The Commission meeting allowed CPTPP countries to chart a course for next steps as well as agree on a framework for the accession of new members. The Ministerial Statement follows:

On January 4, 2019, the Office of the U.S. Trade Representative (USTR) announced that it has requested consultations with Peru under the Environment Chapter of the United States – Peru Trade Promotion Agreement (PTPA). Through these environment consultations, the United States and Peru will discuss and attempt to resolve concerns regarding a recent Peruvian action to move the Agency for the Supervision of Forest Resources and Wildlife (OSINFOR) from its position as a separate and…

On 12 November 2018 the Vietnam National Assembly officially ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). The agreement has already been ratified by Australia, Canada, Japan, Mexico, New Zealand and Singapore and it will enter into force on 30 December 2018 in those countries.

On 25 October 2018, New Zealand formally ratified the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) bringing the number of ratifications to four. Canada cleared its last legislative hurdle when the Senate approved it on October 25 and Royal Assent was given the same day. Canada became the fifth to ratify when it notified New Zealand of its ratification on October 29, 2018. The Australian House and Senate also approved it and sent it to the Governor General who has given Royal Assent.

The Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) is moving forward and has gained momentum recently as Japan, Singapore and Mexico have ratified the 11-party agreement and Australia’s ratification is imminent because the deal recently passed both Houses of Parliament.  Canada is closing in on ratification as well.

With the ratification of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) by Mexico, Japan and Singapore, and the expectation that other parties will follow, we anticipate the agreement will enter into force by early next year. Although the CPTPP differs from the Trans-Pacific Partnership (TPP) due to the suspension of 22 provisions, most chapters of the new agreement remain untouched.  One of those is Chapter 3: Rules of Origin and Origin Procedures. Certificate of Origin, CPTPP, verification, ASEAN, ATIGA, Form D, self-certification, trade, customs, prepare, free trade agreement

As the trade conflict between the United States and China continues, three free trade agreements are pressing ahead, including– the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), soon to enter into force, the Japan-EU Economic Partnership Agreement (JEEPA), recently signed and which represents 30% of global economic output, and the Regional Comprehensive Economic Partnership (RCEP), an agreement that includes both India and China and comprises the largest trading block in the region.