News

Peru: Trade agreement with the United States offers more opportunities

United States
Peru
Regulation & Compliances
Published Feb 28, 2024

Tridge summary

The Trade Promotion Agreement (TPA) between Peru and the United States has positively impacted Peru's economy, leading to an increase in exports due to tariff reductions, says Gabriel Arrieta Padilla from the Association of Exporters. Over 98% of the total lines negotiated are completely exempt, benefiting sectors like agribusiness. The TPA also offers benefits such as increased predictability in bilateral trade, increased investments, and access to public purchasing mechanisms for Peruvian companies. In 2023, Peruvian exports to the US reached US$ 9,126 million, marking a 6.1% increase from the previous year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

(Agraria.pe) The balance of the Trade Promotion Agreement (TPA) between Peru and the United States is clearly positive and continues to be the appropriate institutional framework for companies to take advantage of existing opportunities, said the head of Economic Studies and Commercial Intelligence of the Global Economy and Business Research Center of the Association of Exporters (CIEN-ADEX), Gabriel Arrieta Padilla. He said that, without a doubt, one of the main effects was the increase in exports, thanks to tariff reductions "Currently, more than 98% of the total lines negotiated are completely exempt, thus favoring the diversification of the offer in sectors such as agribusiness,” he pointed out. Likewise, this treaty generates other benefits such as greater predictability in bilateral trade, increased investments in an adequate legal framework, access for Peruvian companies to public purchasing mechanisms and great opportunities for their insertion into value chains. , among ...
Source: Agraria
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