Peru’s CPTPP ratification likely to boost trade with Vietnam



Fibre2Fashion Staff | Fibre2Fashion News Desk

Peru’s official ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is likely to boost trade between Vietnam and the South American nation. Vietnamese goods will have more scope to penetrate the Peruvian market in future with the ratification. Trade between both sides increased from $284.96 million in 2014 to $422.73 million in 2019.

Last year, the value stood at only $391.17 million due to the impact of the COVID-19 pandemic. However, bilateral trade grew strongly in the first half of this year to reach $278.27 million, up by 78.7 per cent year on year.

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