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U.S. Signs Free-Trade Agreement with Peru
President George W. Bush has signed a proclamation that puts the U.S.-Peru trade promotion agreement into effect. U.S. Trade Representative Susan Schwab says it is the first free trade pact to reflect enhanced labor and environmental standards outlined in an accord the Bush administration reached with Congress in 2007.
For the first time in history, Schwab said, U.S. exporters will be able to sell the vast majority of their products in the Peruvian market duty-free. Two-way trade between the two nations totals more than $9 billion a year. For Peru, the pact will make permanent and build on temporary trade preferences that have benefited Peruvian farmers, workers and entrepreneurs through the Andean Trade Preference Act.
The USTR has a page dedicated to the Peru FTA, including a brief summary as well the entire text of the agreement. It can be found here.
The News & Observer