Course summary United States - Peru Trade Promotion Agreement (TPA):
US Free Trade Agreements
- Peru Free Trade Agreements (FTAs)
The United States and Peru signed the United States-Peru Trade Promotion
Agreement (PTPA) on April 12, 2006. The United States - Peru Trade Promotion
Agreement (TPA) entered into force on February 1, 2009.
As a result of the entry into force of the U.S. Peru Free Trade Agreement,
approximately 80% of U.S. industrial and consumer goods enter Peru duty-free.
However, a value-added tax of 18% applied to virtually all goods entering the
country results in relatively higher prices for many goods in comparison to
those prevailing in the United States.
The PTPA eliminates tariffs and removes barriers to U.S. services, provides a
secure, predictable legal framework for investors, and strengthens protection
for intellectual property, workers, and the environment.
The United States’ two-way trade with Peru was $8.8 billion in 2009, with U.S.
goods exports to Peru at $4.8 billion.
U.S. exports to Peru grew 37% in 2010. Principal U.S. exports to Peru in
2010 were machinery, chemicals, computer and electronics, petroleum and oil
products, and transportation equipment. Fish, forestry products, wood,
newspapers and books, and food products were the fastest growing sectors.
Peru’s exports of goods reached $35.1 billion in 2010, partly as a result of
recovering mineral prices. Peru's major trading partners are the U.S.,
China, EU, Switzerland, Canada, and Japan.
The Best Prospects for U.S. exports of non-agricultural products to
Peru include the following sectors:
- Mining Industry Equipment - Telecommunications Equipment
- Plastic Materials and Resins - Pumps, Valves, Compressors
- Construction Equipment - Air Conditioning and Refrigeration Equipment
- Industrial Chemicals - Computers and Peripherals
- Oil and Gas Field Machinery
The Best Prospects for U.S. agricultural products include:
- hard red wheat - dairy products (whey and cheese)
- cotton - beef and offals
- yellow corn - pet food
- soybean meal
Peru and United States are members of APEC.
Example of the course United States - Peru Trade Promotion
Agreement (TPA):
Master in International Business for US Students
Educational level: Continuing education / Executive education programs.
Source: The Office of the United States Trade Representative (USTR)
EENI International Business
.
