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Pending Free Trade Agreements Moving Forward

Currently, less than 2% of U.S. agricultural exports enjoy duty-free access to the Peruvian market while over 99% of Peru's agricultural exports enter the U.S. market duty free. A major step towards correcting that disparity was made Wednesday as the House Ways and Means Committee voted unanimously to send the Peru Free Trade Agreement to the floor for consideration by the full House next week.

This agreement would immediately make 90% of U.S. farm exports to Peru duty-free with other tariffs being phased out over the next 15 years.

"Peru is already an important market for America's farmers and ranchers, buying more than $200 million of our products last year, and with an economy growing at close to 8% a year, we believe that there is more potential for continued growth," says acting Secretary of Agriculture Chuck Conner.

Conner says that Congressional passage of this agreement would send an important signal that the U.S. is committed to free trade in this hemisphere.  He says that's why it is so important that Congress act on the pending trade promotion agreements with Colombia and Panama as well.

In an attempt to move forward those agreements, Conner and U.S. Trade Representative Susan Schwab are co-hosting a Congressional delegation this weekend to Columbia.

"The Colombia Trade Promotion Agreement provides an historic opportunity to deepen and strengthen economic ties with one of the United States' staunchest allies in the Western hemisphere," said Schwab. "Members of Congress need to see first-hand the impressive gains Colombia has made in recent years in curtailing violence and creating economic opportunities. The more lawmakers know about this country's courageous move toward democracy and open trade, the more they will see how this agreement with benefit the people of both countries."

The delegation will spend this Friday, Saturday and Sunday in Columbia.