Peru Achieves Development Partner Status with ASEAN, Boosting Regional Ties
- News Agency
- Jan 31, 2024
- 1 min read
Peru has been granted Development Partner status by the Association of Southeast Asian Nations (ASEAN), announced during a meeting of foreign ministers in Luang Prabang, Laos. This status signifies a significant development in Peru's relations with ASEAN, enhancing its presence in the Southeast Asian region. It opens up new opportunities for trade and cooperation, allowing Peru to further its interests among ASEAN member states.
Peru is the sixth country globally to establish this type of relationship with ASEAN, following in the footsteps of Germany, France, Italy, the Netherlands, and Chile. Common interests in regional agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Asia-Pacific Economic Cooperation (APEC), and the Pacific Alliance-ASEAN, strengthen the foundation for this partnership.
Trade between ASEAN and Peru accounts for a significant portion of Peru's import-export turnover, and Peru has already established free trade agreements with Singapore and Thailand, with ongoing negotiations with Indonesia. Peru has also become Vietnam's sixth-largest trade partner in the Latin American region. ASEAN, established in 1967, includes members such as Brunei, Cambodia, the Philippines, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, and Vietnam.
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