Peru is a country known for its diverse economy, which is proof of its extensive trading partners across the globe. Peru`s trade agreements include a variety of countries, which have contributed to its economic development. Understanding the list of Peru`s trade agreements is crucial to businesses looking to expand their operations in the country.
The United States is one of Peru`s most significant trading partners. Peru has a free trade agreement with the United States, which was signed in 2007. The agreement has helped to increase the country`s exports to the United States, particularly in agricultural products, textiles, and mining. The agreement has also facilitated the exchange of goods and services between the two countries, making it more accessible for businesses operating in each country to do business with the other.
Peru has also signed trade agreements with Canada, the European Union, and the United Kingdom. These agreements have helped to open up new markets for Peru`s exports and help the country diversify its economy. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is another trade agreement that Peru has signed. This agreement is significant because it creates a free trade area among 11 countries, which together represent 13.5% of global GDP.
Peru also has trade agreements with several countries in Latin America. These include agreements with Chile, Mexico, and Colombia, among others. These agreements have helped to facilitate trade with these countries and have enabled Peru to access new markets for its products.
Peru`s trade agreements also include agreements with a few non-traditional partners, such as China and Japan. These agreements have helped to increase trade between Peru and Asia, which is vital for the country`s long-term economic growth.
In summary, Peru`s trade agreements list is extensive and includes agreements with the United States, Canada, the European Union, the United Kingdom, and several countries in Latin America and Asia. These agreements have helped to facilitate trade, open up new markets for Peru`s exports, and diversify the country`s economy. For businesses looking to expand their operations in Peru, understanding these trade agreements and how they operate is crucial.