The United States enjoys strong trading relationships with Peru thanks to existing free trade agreements. In addition, Peru is part of the Trans-Pacific Partnership (TPP). Implementation of the TPP will provide an additional boost the Peruvian economy and tighten integration with the U.S. economy, helping further expand demand for U.S. agricultural products.
The United States entered into a trade agreement with Peru in 2009 that slashed agricultural tariffs and improved market access for many U.S. products. As a result, U.S. farm and food exports to Peru have nearly tripled, reaching a record $1.25 billion in FY 2015. While bulk commodities comprise more than half of U.S. agricultural exports to Peru, the country’s steady economic growth and expanding middle class are fueling demand for higher-value, consumer-oriented U.S. exports, including dairy products, meat and poultry, prepared foods, and fresh fruits. Now that the United States enjoys access to the Peruvian market, it’s a great time for U.S. companies to make connections with Peruvian buyers and to help forge closer links between our economies.
