The Peru-US Free Trade Agreement was passed by the U.S. Congress on December 4, 2004 and signed by former President Bush on December 14, 2007. The agreement provides for reductions in tariffs and facilitates trade between the two countries. The FTA is effective February 1, 2009 and for imports on or after that date, most products (including textiles) from Peru will become duty-free immediately if they meet the FTA requirements. The agreement also contains provisions that provide for stronger protection in intellectual property rights, protection for U.S. investors in Peru, as well as commitments to internationally recognized labor rights.
The summary can be downloaded from the Meeks, Sheppard, Leo & Pillsbury website: http://www.mscustoms.com/Reference.htm.
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