New TPP: what changes for Mexico, Chile and Peru with the new Trans-Pacific Economic Cooperation Agreement?

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Mexico, Canada, Australia, Japan, New Zealand and Singapore are the pioneers in launching the new Comprehensive and Progressive Treaty for the Trans-Pacific Partnership (CPTPP), heir to the previous TPP.
Peru, Chile, Brunei, Malaysia and Vietnam will join in 2019, when their governments ratify the agreement completely.
With the arrival of these last countries will be completed the birth of the largest free trade area worldwide. A market of 500 million consumers, representing 13.5% of global GDP.
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The application of the agreement reduces the tariffs of 95% of the products exchanged by these countries. For example, a Vietnam smartphone manufacturer that needs to import the Japan screen, the battery components of Mexico or the Brunei chip will not pay taxes for any of these products.

In the case of Australia, it will be able to export its meat to Japan paying 9% of tariffs, while the United States, which withdrew from the agreement in 2017, still has to pay 38% if it wants to place its meat products in the country.

Mexico, more access to five markets
It is not uncommon for Mexico to be among the countries that lead the implementation of the new treaty. With it, the country's companies will gain access to five new markets with which it did not previously have such a close relationship: Australia, Brunei, New Zealand, Singapore and Vietnam.
The Peter Institute for International Economics estimates that Mexico's GDP will increase by 1.5% in 2030 thanks to the momentum of the agreement.
According to the calculations of the government itself, the agriculture sector will be one of the most benefited. Beef, pork and chicken meat products, as well as orange juice will have more access to other markets, but also tequila or beer.
"For Mexico, the CPTPP also has an important geopolitical component, and as the agreement expands to include other members, it will also serve as a platform for these Latin American nations to become more involved with other Asian countries, such as Korea and Thailand," he explains. González

                                     

Chile: a milestone in international trade
Although it is the largest trade agreement signed by Chile, the country already had bilateral agreements with the other 10 countries. 40% of foreign trade exchanges are made with Asia, and three of its five main partners are located in that region.
Felipe Lopeandía, Chief Negotiator of the CPTPP, assured that the new access to Japan, Canada and Vietnam is key.