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Council of the Americas Congratulates U.S. House of Representatives on U.S.-Peru TPA

The Council of the Americas applauds the U.S. House of Representatives on passage of the US-Peru Trade Promotion Agreement (TPA) by an overwhelming vote of 285 to 132. The enactment of this important legislation reaffirms the strong ties that exist between the people of Peru and the United States and its effects will be felt with increased opportunities for economic growth and trade in both countries.

Washington, D.C., November 8, 2007 - The Council of the Americas applauds the U.S. House of Representatives on passage of the US-Peru Trade Promotion Agreement (TPA). The enactment of this important legislation reaffirms the strong ties that exist between the people of Peru and the United States and its effects will be felt with increased opportunities for economic growth and trade in both countries.

Council of the Americas President Susan Segal noted, “I congratulate Chairman Rangel and Ranking Member McCrery on their bipartisan leadership in enabling this agreement to move forward. Their work establishes a new approach to U.S. trade relations.” 

Bilateral trade with Peru doubled in the last three years to nearly $8.8 billion in 2006. The U.S.-Peru TPA, which passed overwhelmingly 285 to 132, will further increase growth by immediately allowing 80 percent of all U.S. exports to enter Peru duty-free.

“The historic bipartisan effort taken to ensure passage of the US-Peru agreement is a welcome indication of Congress’ commitment to the hemisphere,” said Vice President and Washington Office head Eric Farnsworth. “We hope Congress continues these strong efforts with the prompt passage by the Senate of the Peru agreement.”

The Council of the Americas is dedicated to promoting open markets, democracy, and the rule of law throughout the Western Hemisphere. 

For more information, please contact the Council’s Washington Office at (202) 659-8989.