The trade agreement allowed increasing business opportunities for national entrepreneurs.
The Minister of Foreign Trade and Tourism of Peru, Elizabeth Galdo, highlighted the important results obtained after 15 years of validity of the Peru – United States Trade Promotion Agreement, which has made it possible to diversify Peruvian exports and increase business opportunities for entrepreneurs. national.
When participating in the commemorative event of this free trade agreement (FTA), Elizabeth Galdo commented that currently the North American country is Peru's second most important trading partner and the main destination market for non-traditional products, including agro-exports and the textile-clothing sector.
“Since the entry into force of the agreement, we have witnessed a 91% growth in Peruvian exports to the US market, going from a value of US$ 4.7 billion in 2009 to more than US$ 9.1 billion in 2023. In total, Exports to the United States have reached US$101 billion in these 15 years, of which 51% corresponds to non-traditional exports,” he noted.
In turn, the United States ambassador to Peru, Stephanie Syptak-Ramnath, highlighted that “this agreement has resulted in impressive growth. "The breadth and quality of the business relationship and the added value has resulted in the creation of thousands of jobs."
“Exports to the United States create more than a million jobs. The most impressive trade growth is that of agricultural exports. The United States Government, together with Peru, will continue working to promote the prosperity of our countries," he added.
The Peru – United States Trade Promotion Agreement was signed in Washington DC on April 12, 2006 and entered into force on February 1, 2009. This trade agreement has been beneficial for the economic development of Peru, and became a benchmark for subsequent international trade negotiations.
During the 15 years of its existence, more than 9,254 Peruvian companies have entered the US market for the first time. In 2023 alone, almost 3,000 Peruvian companies exported to the United States, of which 63% were MSMEs.
