The President of Uruguay, Luis Lacalle Pou, ratified yesterday that the country will apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), despite the warning of three other Mercosur partners (Argentina, Brazil, Paraguay). that they would take measures if Montevideo materializes its ascension to the referred space.
“We are helped by international law; we are helped by the recent events of decisions that are not taken by consensus,” said Lacalle Pou when contacted by reporters in Montevideo.
He cited as examples the “first reduction in tariffs agreed between Brazil and Argentina” and the “reduction in tariffs” to “benefit from the free trade zone” products and services from Uruguay when exported to Brazil.
Lacalle confirmed that Foreign Minister Francisco Bustillo would submit the request to join the CPTPP during his official visit to New Zealand.
“We will do it. We feel that we have every right to do this”, he emphasized.
In a communique, the national coordinators of Argentina, Brazil and Paraguay before the Mercosur Common Market Group stated that “the three countries reserve the right to adopt the eventual measures they consider necessary to protect their interests in the legal and commercial sphere”. .
This announcement was made “taking into account the actions of the Uruguayan government aimed at the individual negotiation of trade agreements with a tariff dimension and taking into account the possible presentation by the Oriental Republic of Uruguay of a request for membership in the CPTPP”.
For his part, Lacalle Pou said: “We understand, although we do not share, the claim of the three countries. We have been very hand to hand. We have been very frontal in Mercosur meetings”.
“We have one next week that will be very fun and we will talk about these issues,” he assured me of the December 5-6 Mercosur summit in Montevideo.
CPTPP
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, also known as TPP11 or TPP-11, is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
It evolved from the Trans-Pacific Partnership (TPP), which never took off due to the withdrawal of the United States.
The eleven signatories have combined economies representing 13.4 percent of global gross domestic product, at about $13.5 trillion, making the CPTPP one of the world’s largest free trade areas by GDP, along with the United States Agreement United-Mexico-Canada, Single European Agreement. Market and Regional Comprehensive Economic Partnership.
