Us And Peru Free Trade Agreement
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 bidding process with an independent secretariat for the environment to ensure that civil society`s views are properly taken into account. 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.  The U.S. House of Representatives approved the agreement on November 8, 2007 by 285-132 votes.   On December 4, 2007, the U.S. Senate approved the agreement by 77 votes to 18.  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). 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. New opportunities for U.S. farmers and farmers: PTPA creates new opportunities for increased U.S. agricultural exports to Peru. More than two-thirds of current U.S. agricultural exports were exempt from tariffs immediately after the agreement came into force. Tariffs on most LAND production products in the United States will expire within 15 years and all tariffs will be eliminated by 2026. 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, 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).