The Peruvian government seeks to attract investment -- both foreign and domestic -- in nearly all sectors of the economy. The U.S.-Peru Trade Promotion Agreement (PTPA), would enable Peru to attract additional investment by clarifying rules for investors, increasing transparency, reducing barriers to trade, establishing faster customs procedures, and improving the dispute settlement process. The PTPA also contains provisions for a bilateral investment treaty (BIT) and a tax treaty between Peru and the United States. This would improve upon the Andean Trade Preferences Act (modified by the Andean Trade Preferences and Drug Eradication Act, or ATPDEA) in which the U.S. Congress extended unilateral trade preferences to Peru as well as Colombia, Bolivia and Ecuador through December 2007. The U.S. Government acknowledged Peru's progress in economic policy and other issues by selecting Peru for the Millennium Challenge Account's Threshold Program for fiscal year 2007.
Peru Trade Promotion Agreement