The head of Peru's Ministry of Foreign Trade and Tourism (Mincetur), Elizabeth Galdo, highlighted the important results obtained after 15 years of the Peru-United States Trade Promotion Agreement, which has allowed diversifying Peruvian exports and increasing business opportunities for Peruvian entrepreneurs.

While participating in the commemorative event of this agreement, the head of Mincetur commented that the North American country is currently Peru's second most important trading partner and the main destination market for non-traditional products, including agro-exports and the textile and apparel sector.

“Since the Agreement entered into force, we have witnessed 91% growth in Peruvian exports to the U.S. market, going from US$4.7 billion in 2009 to more than US$9.1 billion in 2023. In total, exports to the United States have reached US$ 101 billion in these 15 years, 51% of which correspond to non-traditional exports,” said Minister Galdo.

The U.S. Ambassador to Peru, Stephanie Syptak-Ramnath, highlighted that “This agreement has resulted in impressive growth. The breadth and quality of the trade relationship and the value added have created thousands of jobs. Exports to the United States create more than one million jobs.

"The most impressive trade growth is in agricultural exports. The U.S. Government, together with Peru, will continue to work to promote the prosperity of our countries.”

Landmark Agreement

The Peru - United States Trade Promotion Agreement was signed in Washington D.C. on April 12, 2006, and was effective on February 1, 2009. This trade agreement has been beneficial for Peru's economic development and has become a benchmark for subsequent international trade negotiations.

During the 15 years it has been in force, more than 9,254 Peruvian companies have entered the U.S. market for the first time. In 2023 alone, almost 3,000 Peruvian companies exported to the United States, 63% of which were MSMEs (Micro, Small, and Medium Enterprises).

As of 2023, the United States continues to position itself as Peru's second-largest trading partner worldwide, with a total trade value of more than US$19 billion, representing 17% of Peru's trade with the world.

In 2023, the main products exported to the United States included blueberries (US$967 million), grapes (US$841 million), asparagus (US$288 million); gold (US$941 million), copper (US$726 million); and cotton apparel (US$525 million), among others.

The event was aimed at the business sector and was attended by the U.S. Ambassador to Peru, Stephanie Syptak-Ramnath; the Secretary General of the Ministry of Foreign Affairs, Ambassador Eric Anderson; the Vice Minister of Foreign Trade, Teresa Mera; the Executive Director of AMCHAM, Aldo Defilippi; as well as representatives of the main exporting associations to the United States and other Peruvian and U.S. authorities.