U.S.- Peru Trade Promotion Agreement
The United States and Peru signed the United States-Peru Trade Promotion Agreement (U.S.-Peru TPA) on April 12, 2006. The Peruvian Congress ratified the Agreement in June 2006 and a protocol of amendment in June 2007. On December 14, 2007, President Bush signed the United States-Peru Trade Promotion Agreement Implementation Act. The Agreement will enter into force once Peru has taken the necessary steps to ensure implementation of its obligations.
WHY A PERU TRADE PROMOTION AGREEMENT?
The U.S.-Peru TPA is a tremendous opportunity for U.S. exporters. It will give U.S. companies improved access to a strong market and improve the business climate in Peru as the country enacts the necessary domestic legal and business reforms required to implement the agreement.
Why Peru?
 | Peru has the potential to be a great place to do business. Trade with Peru offers expanded economic opportunities for U.S. manufacturers, workers, and farmers. It is a growing market for U.S. exporters and a good economic and policy partner to the United States. A Trade Promotion Agreement gives us a framework to make Peru a good place to do business. In addition, an agreement with Peru helps further U.S. trade and policy objectives in the region. |
What's in it for me? - The U.S.-Peru TPA has plenty to offer U.S. exporters, service providers and investors. Specifically, the U.S.-Peru TPA:
| Levels the playing field for U.S. companies who will enjoy tariff free access into Peru once the Agreement takes full effect. |
| Provides new market access for U.S. consumer and industrial products such as textiles and agricultural products. |
| Provides unprecedented access to government procurement. |
| Liberalizes the services sectors. |
| Opens the Peruvian market to remanufactured goods. |
| Protects U.S. investments in the region. |
| Strengthens protections for U.S. patents, trademarks, and trade secrets. |
| Improves customs facilitation. |
| Provides benefits to small and medium sized exporters. |
| Addresses government transparency and corruption, worker rights, protection of the environment, trade capacity building and dispute settlement. |
| Requires important reforms of the domestic legal and business environment that are key to encouraging business development and investment. |