The United States and Peru signed the U.S.-Peru Trade Promotion Agreement (U.S.-Peru TPA) on April 12, 2006.  Both countries need to pass implementing legislation before the U.S.-Peru TPA can enter into force. 

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.

    ....more: http://export.gov/fta/peru/state