Peru to target new markets with focus on improving clothing quality

YarnsandFibers News Bureau 2016-09-20 14:00:00 – New York

Lima's largest textile outlet, Gamarra where thousands of people flock to buy clothing items for their family at affordable prices. Peru's President Pedro Pablo Kuczynski in order to target new markets is focused on improving the brand and quality of garments produced at Lima's Gamarra Commerce Emporium.

According to the Head of State, the current situation in Venezuela a major garment buyer has had a negative impact on the textile outlet.

When consulted on the Trans-Pacific Partnership (TPP) situation, the top official acknowledged it as a positive agreement for Peru, even if it does not include China, which is the dominant power in Asia is a concern in the long-term.

Mr. Kuczynski also reaffirmed Peru’s commitment to sign TPP and expects its approval by the U.S. Senate.

It must be noted TPP is the one of the world's most important trade blocs. Australia, Brunei Darussalam, Canada, Chile, United States, Japan, Malaysia, Mexico, New Zealand, Singapore, Vietnam and Peru belong to the group hosting 805 million consumers, thus accounting for nearly 40% of global production.

The agreement will contribute to turning Peru into a "hub" for Asia-Pacific area. The South American country will draw investments from other nations and be allowed to export goods within the area by taking advantage of TPP preferences.

The senior economist reaffirmed Peru's commitment to ratifying TPP, signed by the previous administration.

Within the framework of the UNGA 71, Mr. Kuczynski's agenda includes a series of activities in the United States on September 19-23, including meetings with U.S. government officials and investors. As is known, Peru's Commander-in-Chief will address the UN General Assembly on Tuesday, September 20.

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