Washington, D.C., December 4, 2007 - The Council of the Americas commends the U.S. Senate on its overwhelming passage of the US-Peru Trade Promotion Agreement (TPA). The Senate’s approval of this legislation, along with the House of Representative’s strong vote last month, sends a clear message that Congress is committed to providing a fair and favorable business climate which will provide jobs and economic growth in both countries.
“The Council applauds the diligent work of Senator Baucus and Senator Grassley to bring this agreement to a vote,” said Council of the Americas President Susan Segal. “The bipartisan effort signals a new era for trade in our hemisphere and we look forward to the future rewards offered by this welcome cooperation.”
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 77 to 18, will further increase growth by immediately allowing 80 percent of all U.S. exports to enter Peru duty-free
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.