Peru and the United States benefit from the U.S.-Peru Trade Promotion Agreement (PTPA), which entered into force on February 1, 2009. The PTPA eliminated tariffs on most goods, established a more secure, predictable legal framework for U.S. investors in Peru, and strengthened protections for intellectual property, workers, and the environment.
In addition to the PTPA, Peru has 22 free trade agreements including with Australia, Canada, Chile, China, Costa Rica, the European Union, Japan, Mexico, Panama, Singapore, South Korea, Thailand, the United Kingdom, and Venezuela. It also has Framework Agreements with the South American Common Market (MERCOSUR) countries and a partial preferential agreement with Cuba.
The Peruvian government has signed agreements with Guatemala, the Pacific Alliance, and Brazil, which await full implementation to enhance economic ties. Peru is a party to 32 bilateral investment agreements and has concluded tax treaties with 11 countries, though not with the United States.
In recent years, Peru has made significant progress in improving its investment climate by improving its intellectual property laws, reforming labor regulations, and reducing trade barriers. 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.
For information on FTA partner countries, including how to take advantage of an FTA, please visit the Free Trade Agreements Help Center.