U.S. – Peru Free Trade Agreement at Final Stage, U.S. Congress has 90 Days to Approve or Reject

(LIP-ir) — Peru’s Minister of Foreign Trade and Tourism, Mercedes Aráoz announced yesterday that the U.S.-Peru Free Trade Agreement has been sent to U.S. Congress for its final approval and implementation.

The Free Trade Agreement has already had two important victories. The fist was in a mock mark up held by the U.S. Senate Finance Committee in which it was approved by an overwhelming vote of 18-3 and the second was in a voice vote held by the U.S. House Ways and Means Committee, in which the free trade agreement was unanimously approved.

Peru’s Minister of Foreign Trade stated that both of the favorable results in the mock mark ups had permitted the free trade agreement to be where it is today and that she was confident that after such good results the pact would be approved by U.S. Congress.

"With this we start the countdown to reach our goal to have a trade agreement with our main commercial partner," said Aráoz. She also stated, "This decision confirms how committed the U.S. is to having this treaty."

In addition, Aráoz explained that it was necessary to work intensely on implementing the commitments which had been made and getting Peru’s companies ready for the implementation of the pact.

U.S. Congress can not make any changes to the pact and has 90 days to approve or reject the free trade agreement with Peru.

– related articles –
U.S. House Committee Approves Free Trade Agreement with Peru (by LIP, Sept 25, 2007)