APEC Report: Peru has "Made Remarkable Progress" in Advancing Free Trade
An independent report into Peru's progress towards achieving its APEC free trade and investment goals has been welcomed by APEC Member Economies meeting in Pucón.
The independent review of Peru's Individual Action Plan (IAP) noted the high level of support shown by Peru for initiatives and programs that are part of the APEC process.
IAPs serve as a roadmap for APEC Member Economies to achieve the goals of free and open trade and investment in the APEC region. Agreed in Bogor, Indonesia, in 1994, the target for achieving these Bogor Goals is 2010 for industrialized economies and 2020 for developing economies.
Prepared by the Independent Expert nominated by APEC, Dr. Mignonne M.J. Chan, the Director of the Division of International Affairs at the Taiwan Institute of Economic Research, the report noted substantial steps taken by Peru since joining APEC in 1998.
In her report, Dr. Chan also highlighted the value of ongoing capacity building projects to further liberalize Peru's trade and investment regime.
"Peru, as a member of the APEC community, has played its part in advancing the Bogor Goals with its commitment to continually open its economy," Dr. Chan said.
"While continuing negotiations on all fronts, Peru is undertaking unilateral actions not only to comply with its commitments to its trading partners but also to promote domestic growth and social welfare. We look forward to Peru's further progress and welcome ideas for technical cooperation initiatives to address specific areas."
"Peru has made remarkable progress in abiding by directives and statements from APEC Leaders and Ministers," Dr. Chan said.
"While recognizing the importance of national security, Peru has also adopted the APEC Principles on Trade Facilitation, and joined the APEC Business Travel Card Schemes. This is consistent with capacity-building efforts promoted by APEC."
The report also noted the openness of Peru's transparent services sector in which there are few limitations on market access and also a number of notable achievements in the financial, telecommunications and tourism sectors.
Summaries on each of the thirteen areas of assessment are now available on the e-IAP website (www.apec-iap.org). The full report will be available on the e-IAP website once it has been presented to APEC Senior Officials in Pucón, Chile, on June 2.
Four APEC Member Economies are having their IAPs' reviewed at the current round of APEC meetings in Chile. This process involves a presentation by the Independent Expert to a meeting of Member Economies followed by an opportunity for these economies to question the economy under review on the details of their IAP. The review of Peru's IAP took place in Pucón this afternoon.
Ambassador Capunay led Peru's delegation of trade officials who highlighted the contribution Peru had made to achieve the Bogor Goals through increased transparency, competitiveness and strong economic policies.