Fast Facts: Free Trade with Peru
On August 1, 2009, the Canada-Peru Free Trade Agreement (FTA) entered into force. The Canada-Peru FTA results in lower barriers to trade and expanded opportunities for Canadian exporters and investors in a broad range of sectors – including agriculture, mining, energy, and professional and financial services.
Facts on current trade:
| Peru | |
| Two-way merchandise trade | $2.8 billion (2008) |
| Canadian exports | $390.8 million (2008) |
| Canadian imports | $2.5 billion (2008) |
| Canadian direct investment, stock | $2.35 billion (2008) |
| Canadian commercial services exports | $42 million (2007*) |
| * Latest year for which official data is available | |
Canadian merchandise exports to Peru: cereals, pulses, paper, technical instruments and machinery.
Canadian services exports to Peru: services in the areas of mining, energy and financial services.
Canadian imports from Peru: gold, zinc and copper ores, oil, animal feed and vegetables.
Canadian direct investment in Peru: mining and financial services sectors
What this FTA means:
- Removal of barriers that limit Canadian participation in a growing market
- Elimination of tariffs on Canadian exports to help make Canadian goods more competitive in a range of sectors including: mining, agriculture and agri-food products
- A level playing field for Canadian business vis-à-vis their competitors who benefit from preferential market access terms
- Enhanced market access for Canadian service providers in areas such as mining, energy and professional services (engineering, architectural, environmental, distribution, financial and information technology)
- Secure and predictable environment for investors
- Lower prices and improved choice for consumers
- Deepening Canada’s engagement and supporting development objectives in the Americas
Results for Canadians:
- New market opportunities
- New customers
- New links in supply and production chains
- New partnerships
- New investors
- New choices for consumers
In keeping with Canada’s approach to FTA negotiations, Canada has also sought to address the social dimensions of economic integration through the negotiation of provisions on labour and the environment.
