Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
Peru and the United States benefit from the United States-Peru Free Trade Agreement (PTPA), which entered into force on February 1, 2009. The PTPA established a more secure, predictable legal framework for U.S. investors in Peru. The PTPA protects all forms of investment. U.S. investors enjoy the right to establish, acquire, and operate investments in Peru on an equal footing with local investors in almost all circumstances.
The PTPA eliminated any need for a separate bilateral investment agreement between the United States and Peru. Peru also has free trade agreements with Australia, Canada, Chile, China, Costa Rica, the European Union, the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), Honduras, Japan, Mexico, Panama, Singapore, South Korea, Thailand, the United Kingdom, and Venezuela.
Peru also has Framework Agreements with the South American Common Market trade bloc (MERCOSUR) countries (Argentina, Brazil, Paraguay, Uruguay, and Venezuela). In addition, it has a partial preferential agreement with Cuba.
The Peruvian congress ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore, and Vietnam) in July 2021, with September 2021 as the date of entry into force of the agreement. Peru ratified the WTO Agreement on Trade Facilitation, which entered into force in February 2017. The Peruvian government has signed additional agreements that await full implementation, including with Guatemala, the Pacific Alliance (Mexico, Colombia, and Chile), and Brazil.
Peru is a party to 29 bilateral investment agreements.
Peru does not have a bilateral taxation treaty with the United States. However, Peru has signed and ratified tax treaties with the Andean Community (Bolivia, Colombia, Ecuador), Chile, Brazil, Canada, Mexico, Switzerland, South Korea, and Portugal. Peru has also signed bilateral taxation treaties with Spain and Thailand, but the Peruvian Congress has not ratified these. Peru is a member of the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and is a party to BEPS’s October 2021 agreement on the two-pillar solution to global tax challenges, including a global minimum corporate tax.