United States-Peru Trade Promotion Agreement

On November 8, 2007, the U.S. House of Representatives approved the U.S.-Peru Trade Promotion Agreement. On December 4, 2007, the U.S. Senate approved the agreement. On December 14, 2007, the President of the United States signed H.R. 366, the United States-Peru Trade Promotion Agreement Act. On 18 November 2003, the USTR informed the US Congress of the government`s intention to open free trade negotiations with Bolivia, Colombia, Ecuador and Peru, all beneficiaries of the Air Preferences Act (ATPA). The agreement provides for the immediate or phasing out of tariffs and barriers to bilateral trade in goods and services originating in the United States and/or Peru. The PTPA uses a similar method to determine whether good customs treatment is possible in previous agreements such as the free trade agreement between the United States and the Dominican Republic- Central America. Another notable similarity is that the onus is on the importer to provide information to support the application. Peru, along with Colombia and Ecuador and Bolivia, opened free trade negotiations with the United States on 18 May 2004. After thirteen rounds of negotiations, Peru and the United States concluded the negotiations on 7 December 2005.

On January 6, 2006, the President of the United States communicated to Congress his intention to conclude a free trade agreement with the Republic of Peru, and on April 12, 2006, Peru and the United States signed the U.S.-Peru Trade Promotion Agreement (PTPA). On June 25, 2007, the United States and Peru reached an agreement amending the U.S.-Peru trade agreement. These legally binding amendments were negotiated to reflect the multi-party trade agreement reached on May 10, 2007 in the U.S. Congress. On the night of June 27, 2006, the Peruvian Congress debated the agreement for six hours and ratified it in the early hours of the next day. The vote was held by 79 votes in and 14 against and 7 abstentions. [9] The U.S. House of Representatives approved the agreement on November 8, 2007 by 285-132 votes.

[10] [11] On December 4, 2007, the U.S. Senate approved the agreement by 77 votes to 18. [12] [13] The transposition laws received broad support from the Republican Party (176-16 in the House of Representatives, 47-1 in the Senate) and divided the support of the Democratic Party (109-116 and 29-17). Under the US-Peru Trade Promotion Agreement (TPA), U.S. exports of consumer goods and industrial goods to Peru are no longer subject to tariffs. For agricultural products, tariffs on nearly 90% of U.S. exports have been eliminated and the remaining tariffs will be eliminated by 2026. The TPA also provides favorable access to U.S. service providers, as well as guarantees for the protection of U.S.

investors and copyrights, trademarks and patents registered in Peru. In addition, Peru has opened important public procurement contracts for U.S. bidders. Peru Trade Promotion Agreement (TPA) Text: The full text of the agreement. On February 1, 2009, the U.S.-Peru trade agreement (commonly known as the U.S.-Peru Free Trade Agreement) came into force. The agreement improves the overall climate of trade and investment, including deranging tariffs on many products, speeding up the clearance process for U.S. imports, and strengthening the protection of intellectual property rights. Environmental protection obligations and cooperation: the agreement requires contracting parties to effectively enforce their own national environmental laws and to adopt, maintain and implement laws, regulations and all other measures necessary to meet these obligations. The “Environment” chapter contains a groundbreaking annex to forest sector management, which discusses the environmental and economic consequences of trade with respect to illegal logging and the illegal trade in wild animals. It also contains provisions that recognize the importance of preserving and protecting biodiversity and create a public submission process with an independent secretariat for the environment, to ensure that the views of civil society so

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