GSP status and Free Trade Agreements in Peru
Peru holds a (Generalised Scheme of Preferences status (GSP) in Japan, Belarus, Canada, New Zealand, Norway, Russian Federation, Switzerland, Turkey. In Australia, Peru enjoys a Developing Country Status under the Australian System of Tariff Preferences (ASTP). In this system, Peru is granted a tariff reduction based on a five percentage point margin of preference.
The European Union is one of the main export markets of Peru, taking up 36% of the total seafood exports in 2016. Peru used to benefit from a GSP+ in the EU until January 2016. Together with Colombia, Peru has entered into a free trade agreement with the EU.
Peru does not hold a GSP status in the United States, but the United States charges low or no duty rates on imported fresh seafood products.
China is an important trade partner for Peru, both in terms of import and exports. They entered into a bilateral FTA in 2010 to further strengthen trade and investments between their countries. Duties on several seafood products (fresh and processed) are removed directly or through 5, 8 or 10 year stages by China (Dezan Shira & Associates, 2016).
Free Trade Agreements
Peru is committed to free trade, and more than 80% of the country’s trade is covered by Free Trade Associations (FTA). Peru is involved in 19 FTAs, of which 3 are signed but not yet in force. Another 4 are being negotiated (January 2017). As a result, Peruvian seafood can be exported to all major markets, including the European Union, China and the United States, for no or low duty rates. Peru is also a member of the Andean Community, which is customs union comprising out of the South American countries of Bolivia, Colombia and Ecuador besides Peru.
Agreements signed and in effect:
- Trade Agreement between the European Union and Colombia and Peru
- Protocolo Adicional al Acuerdo Marco de la Alianza del Pacífico
- Agreement between Japan and the Republic of Peru for an Economic Partnership
- Tratado de Libre Comercio Costa Rica-Perú
- Tratado de Libre Comercio Panamá-Perú
- Acuerdo de Integración Comercial México-Perú
- Peru – Korea Free Trade Agreement (KPFTA)
- Peru-EFTA States Free Trade Agreement
- Peru-China Free Trade Agreement
- Peru-Singapore Free Trade Agreement
- Acuerdo de Libre Comercio Chile – Perú
- Peru – United States Trade Promotion Agreement
- Tratado de Libre Comercio entre MERCOSUR y Perú
- Peru – Thailand Free Trade Agreement
- Tratado de Libre Comercio Honduras-Perú
- Canada-Peru Free Trade Agreement
Agreements signed but not in force:
- Trans-Pacific Partnership Agreement
- Tratado de Libre Comercio Guatemala-Perú
- Acuerdo de Profundización Económico Comercial entre la República del Perú y la República Federativa del Brasil
Agreements under negotiation
- Tratado de Libre Comercio Perú – Turquia
- Tratado de Libre Comercio Perú – El Salvador
- Acuerdo Comercial Perú – India
- Acuerdo de Comercio de Servicios (TISA)
(source: http://www.sice.oas.org/ctyindex/PER/PERagreements_e.asp and www.acuerdoscomerciales.gob.pe)