Ukraine wants to enter into a TPP11 agreement to get closer to Peru and Chile

Ukraine aspires to join the Trans-Pacific Partnership Agreement, also CPTPP or TPP11 due to the number of member countries, before July 2024, to gain a presence in Latin America and intensify its trade relations with Peru, Chile and Mexico, the three Latin American countries that have ratified the treaty.

“We have a great interest in joining the agreement”, said the Ukrainian Deputy Minister of Economy, Taras Kachkawhich frames this strategic bet by Ukraine in kyiv’s attempts to redouble its political and economic presence in Latin America and Asia.

Kachka explained that he hopes to be able to start the accession negotiations once there is a final decision on the accession of the United Kingdom, which could become a form “imminent”, according to the British Government itself, in the first European country to join this transcontinental free trade agreement.

“I hope that the United Kingdom joins soon enough, and we hope that we can also have priority to be part of this agreement that unites all our friends from Australia, New Zealand, Chile, Peru, Canada or SingaporeKashka said.

First half of 2024

Asked about possible deadlines, the Ukrainian deputy minister stated that “it would be a great success” achieve membership in 2023, although he noted that “would be nice too” if Ukraine completed its accession “in the first half of next year”.

Kachka recalled that other countries have also shown interest in joining the pact, and warned that the talks could be long due to the “complexity” of the issues to be negotiated, which include “rates, services, investments” and evaluations of the economic realities and legislation of the countries involved.

In addition to intensifying its exchanges with Latin AmericaUkraine wants to open up new business and cooperation opportunities with the Asian countries that have signed the treaty, at a time when it needs to expand its international support network to face the Russian invasion.

Ukraine already exports large amounts of grain to Southeast Asian countries such as Indonesia, the Philippines, Thailand or Vietnam, but Kiev is also interested in promoting new investments in the processing of these raw materials and is committed to extending trade relations to other sectors.

Ten commercial offices in Africa

In addition to Latin America and Asia, Ukrainian diplomacy has also set itself the goal of having a greater presence in sub-Saharan Africa, a region in which Russia is gaining prominence thanks to the role of Wagner mercenaries in a growing number of countries on the continent.

To facilitate trade operations, cooperation and investment exchange between Ukraine and African countries, Kiev plans to open “at least ten” trade offices in as many nations in the region, including South Africa, Nigeria, Egypt and Ghana, four continental powers.

“We want to have a permanent commercial presence”, said Kachka, the vice minister of Economy in his interview with Efe. Through this “economic diplomacy”, kyiv intends to facilitate the contact of its companies with possible African partners and eliminate tax and bureaucratic obstacles to trade between the parties.

Kachka referred to the presence of Ukrainian information technology companies in Ghana as an example of the added value that his country’s business fabric can bring to the economies of Africa, with which Kiev wants to promote exchanges beyond grain exports. .

Source: EFE