Posts Tagged ‘US’
The first goods exchanged between Peru and the U.S. around the recently signed Free Trade Agreement arrived to Peru and were shipped to the U.S., correspondingly, according to an article in El Comercio.
In a historic celebration, the first shipment coming from the U.S. to Peru’s international port of Callao arrived yesterday Monday, February 2 including apples from California worth US$17,542. And the first shipment of Peruvian textiles to the U.S. left Callao.
The vast majority of goods coming from the U.S. to Peru free of customs charges include complementary and industrial goods, supplies, and machinery for Peruvian producers.
The U.S. is Peru’s largest commercial partner. In average, trade among both countries reaches nearly US$ 9.4 billion per year.
Click here to watch a news video on this relevant trade accomplishment for both countries.
Key US-Peru trade facts, according to El Comercio:
- Since last Sunday, products imported to Peru from the U.S. are entering free of customs — in the past they included a 9% or 17% customs charge.
- In 2008, 18% of the US$31,163 million of total Peruvian exports were shipped to the U.S.
- In the following months, the Free Trade Agreements with Canada, Singapore, China and Chile will become effective.
Today’s New York Daily News’ Bronx issue published a story on dozens of Bronx residents visiting Washington D.C. for the Presidential Inauguration celebration. And a Peruvian immigrant Alejandra Delfin among them shares her expectations:
Alejandra Delfin, 42, a Peruvian immigrant and artist, is going because her daughter, Misra Walker, 16, got tickets by working in [Rep. Jose] Serrano’s office.
They were prepared to sleep in their car, but will instead use sleeping bags on the floor of a three-bedroom apartment.
“The Election Day was so amazing, but it is not real in a way,” she said. “Being there is almost to say this is really happening and we are part of it.”
She said the visual image of Obama, the son of a Kenyan father and a white mother from Kansas, gives hope to all people with darker skin.
“I feel he’s more understanding and open-minded,” she said. “Even just to see someone who looks like us in leadership, it’s wonderful.”
To read the full article, click here.
Just a few moments ago, President Bush proclaimed the approval of the US-Peru FTA agreement!!
This is a very important accomplishment for Peru on its way to become an economic leader in Latin America and in the world — and of course will also bring foreigners closer to Peruvian goods in the U.S.
Click here to read President Bush’s Proclamation signed today.
As the Associated Press (via BusinessWeek) reports:
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 Office of the U.S. Trade Representative issued this press release (full version click here):
WASHINGTON, DC – U.S. Trade Representative Susan C. Schwab made the following statement today regarding the entry into force of the United States–Peru Trade Promotion Agreement:
“With the President’s issuance of a proclamation to implement the U.S.-Peru Trade Promotion Agreement as of February 1, 2009, I am very pleased to be able to celebrate the entry into force of this important trade agreement.
“We have worked closely with the Government of Peru to ensure that the obligations and responsibilities of each party have been met under this Agreement. We have engaged in this effort as true partners, and I want to thank President Garcia and his government for their hard work and dedication over the course of the last year.
“I want to thank those in Congress who worked with the Administration to develop a bipartisan trade policy template, paving the way for the approval of the U.S.-Peru Trade Promotion Agreement. This is the first free trade agreement (FTA) in force that will reflect the enhanced labor and environmental standards set out in the May 10, 2007, agreement between the Administration and the congressional leadership.
“Today’s proclamation marks an important milestone in our relationship with Peru, one of our strongest allies in Latin America. For the first time in history, American exporters will be able to sell the vast majority of their products into the Peruvian market duty-free. Through this Agreement, we have seized the opportunity to lead by strengthening our partnership and helping promote economic growth, prosperity and well being in Peru and throughout the hemisphere.”
“Trade and trade expansion will be a vital component of our effort to restore economic growth in the global economy. The additional market openness brought by this agreement will enhance our trade and prosperity in the future and support existing and future high-paying American jobs, particularly in manufacturing and agriculture.”
Very exciting! Looks like it will be an amazing year for Peru despite the global economic crisis!
Following up from my earlier post on the Peruvian Minister of Economy Luis Valdivieso visiting New York, Boston, London and Spain, today he made a statement on how his “Non Deal Road Show” is progressing, according to a report from Andina.
Today Valdivieso is in London and stated investors in the U.S. and the U.K. are surprised that Peru continues growing and with a low inflation despite de international economic crisis.
Below are quotes from his declaration to the press (translated to English):
“They were all surprised that we keep growing with low inflation and are very interested to know which are our fiscal plans and monetary policy, as well as which are our investment plans. [...] It is important to communicate to the market where we are and where we are headed to.”
U.S. Congressman Rubén Hinojosa (D-TX) meets with the Peruvian President Alan Garcia., as Andina reports via a video (in Spanish).
During his stay, the Congressman made a statement to the press calling to support the Free Trade Agreement between the U.S. and Peru to increase commerce, investments, and generate employment opportunities in Peru and also in the U.S. to ride through the current global economic crisis.
Peru’s Minister of Economy Visiting NY, Boston, London and Spain to Promote Country’s Economic Strength
The Peruvian Minister of Economy Luis Valdivieso will be visiting New York, Boston, London and Spain starting tomorrow December 11 thru December 18 to promote Peru’s economic strength despite the US and global crisis, as Andina news reports.
The goals behind this tour named “Non Deal Road Show” include to:
- Demonstrate Peru’s attractiveness and strength for foreign investments
- Promote Peru’s commitment to its investment policies to improve its business environment and reduce poverty based on free market principles
- Promote the recognition from the Organization for Economic Cooperation and Development (OCDE) as Peru became the 41st country to join the International Declaration of Investments and Multinational Businesses
Peru’s economy is said to be one of the countries in Latin America that will handle best the U.S. economic crisis given its economic and political stability.
Bloomberg reports that Peru’s National Statistics Institute released the country’s GDP to have “expanded more than economists expected in the third quarter”. Construction and investment in heavy machinery and equipment led this growth.