The Peru Trade Promotion Agreement (PETPA, sometimes called Peru FTA) entered into force on 1 February 2009. A vast majority of Peruvian products currently arrive in the U.S. for Customs and Cargo Processing (MPF) fees, and virtually all of them will enter the U.S. free of charge until the agreement is fully implemented in 2025. Under the U.S.-Peru Trade Promotion Agreement (TPA), U.S. exports of consumer and industrial goods to Peru are no longer subject to tariffs. For agricultural products, tariffs on nearly 90 percent of U.S. exports have been eliminated, with the remaining tariffs expiring by 2026. The TPA also provides favorable access to U.S. service providers as well as safeguards for the protection of U.S. investors and U.S. copyrights, trademarks, and patents registered in Peru.
In addition, Peru has opened up important government procurement contracts to U.S. bidders. Product Description Box 5: Provide a complete description that contains sufficient detail to link the goods to the invoice description and the Harmonized System (HS) description. If the certificate covers a single consignment, it should, as far as possible, also list the quantity and unit of measurement, including the serial number. The CPFTA Certificate of Origin (Form BSF267) has been published. Qualified products manufactured in Peru and imported on or after August 1, 2009 are exempt from customs duty in Canada when a valid form has been submitted and the goods are shipped from Peru. The CPFTA`s BSF267 Certificate of Origin is available at: Information for U.S. exporters is available through the Department of Commerce at 2016.export.gov/FTA/index.asp. Preferential criterion box 7: Indicate the rule of origin applicable to each product appearing in the certificate of origin by entering the corresponding preferential criterion code (A to D). To qualify for preferential tariff treatment, each product on the Certificate of Origin must meet at least one of the following criteria: The PTPA is the first existing agreement to include groundbreaking provisions on environmental protection and workers` rights, which were incorporated into the interpartisan trade policy agreement drawn up by congressional leaders on May 10. 2007.
Since 2009, trade between the United States and Peru has increased from nearly $9 billion to $15.9 billion in 2017. The importer greatly needs the support and cooperation of its U.S. suppliers to make accurate and well-documented origin declarations. USITC Publication 4058: This publication contains changes to HTSUS, the Duty Phase-Out Schedule, and other important information….