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Peru Publishes Resolution for Approval of Trans-Pacific Partnership Agreement — Orbitax Tax News & Alerts

Peru has published Legislative Resolution No. 31286 of 15 July 2021, which approves the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11). TPP-11 was signed by Peru on 8 March 2018 and incorporates, by reference, the provisions of the original Trans-Pacific Partnership Agreement, signed 4 February 2016, with the exception of a limited set of provisions. The resolution must now be ratified by the president. TPP-11 will enter into force for Peru 60 days after the Government of New Zealand (the acting depository for the agreement) is notified of the ratification.

The agreement already entered into force for Australia, Canada, Japan, Mexico, New Zealand, and Singapore on 30 December 2018, and entered into force for Vietnam on 14 January 2019. Other signatories, including Brunei, Chile, and Malaysia, have not yet approved the agreement.