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Peru Membership in Free Trade Agreements

Discussion of Peru's standards and comprehensive import regulations on warrantees/guarantees, used vehicles, temporary entry, prohibitions, licenses, and more.

Peru Membership in Free Trade Agreements

Postby bridgat » Tue Nov 18, 2008 6:59 am

The US and Peru have signed a FTA, which awaits final ratification by the US Congress. See the FTA section of export.gov

In the context of its participation in the Andean Community, since 2006 Peru has granted duty-free treatment to all imports originating in Bolivia, Colombia, Ecuador and Venezuela. It also grants preferential treatment to imports from Chile, Cuba, MERCOSUR and Mexico.

Associate Member of the Mercosur as of 2004.

Andean Pact

* Peru is a member of the Andean Pact but does not participate fully in the Pact's free-trade area or customs union, because of disagreements over the Pact's common external tariff and what Peru considers to be trade-distorting policies maintained by other Pact members. Peru recently signed a broad FTA with Brazil and continues negotiations with other Mercosur countries as part of the Andean-Mercosur FTA negotiations.

* Peru formally announced its intention to withdraw from the pact in April 1997. Negotiations on exit procedures and timing are on-going.

* As of 01/01/95, Peru allows in duty-free those products from other Pact members to which the 0, 5 and 10% bands of the common external tariff apply (in practice, this policy is applied only to goods from Colombia and Venezuela). As a result, about 80% of imports from other pact members currently enter Peru with 0 duties.

* The agreement with Bolivia is essentially a full-fledged free-trade agreement.

* Peru is in the process of negotiating a free-trade agreement with Chile and recently initiated free-trade talks with Mexico.

* As part of the Andean Pact, Peru is participating in talks with Mercosur over establishing a free trade area between the two blocs.

ALADI

Member since 1960

APEC

* As of 1998, Peru is a full member of APEC.
bridgat
 
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