Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

The World This Week

Read more

FRANCE IN FOCUS

Travel chaos: Air France pilots take industrial action

Read more

THE BUSINESS INTERVIEW

Christian Kastrop, Director of Policy Studies, OECD

Read more

AFRICA NEWS

Ebola: UN Security Council unanimously passes resolution

Read more

ENCORE!

Author Kiran Desai on early success and the Booker Prize

Read more

THE BUSINESS INTERVIEW

Tyler Brûlé, Founder and Editor-in-chief of Monocle

Read more

REPORTERS

From Sarajevo to Guantanamo, the journey of the Algerian Six

Read more

#THE 51%

Angelique Kidjo, 'Africa’s premier diva'

Read more

FASHION

The Quest for an Exceptional Object

Read more

Free trade deal goes into effect

Latest update : 2009-01-16

The United States and Peru have launched a free trade deal which took effect when it was signed by President George W. Bush on Friday, the White House said in a statement. The presidential order made official a treaty signed in April 2006.

AFP - The United States and Peru launched a free trade deal which took effect when it was signed by President George W. Bush on Friday, the White House said in a statement.
   
"With the president's issuance of a proclamation to implement the US-Peru Trade Promotion Agreement as of January 16, 2009, I am very pleased to be able to celebrate the entry into force of this important trade agreement," said US Trade Representative Susan Schwab.
   
"We have worked closely with the Government of Peru to ensure that the obligations and responsibilities of each party have been met under this Agreement. We have engaged in this effort as true partners, and I want to thank President (Alan) Garcia and his government for their hard work and dedication over the course of the last year," the statement added.
   
The presidential order made official the intent of the treaty signed April 12, 2006 between the US and the Andean nation, and amended June 25, 2007, a White House statement said.
   
The deal was the fruit of tough negotiations that required Peru to change some of its labor legislation to bolster rights to collective bargaining and unionization.
   
"This is the first free trade agreement in force that will reflect the enhanced labor and environmental standards set out in the May 10, 2007, agreement between the Administration and the congressional leadership," the US statement added.
   
US-Peruvian bilateral trade is currently worth about 9.4 billion dollars annually.

Date created : 2009-01-16

COMMENT(S)