Trans-Pacific Partnership (TPP) – Peru
GDP ($ billions): 224.2
GDP per capita ($): 7,135
GDP growth rate (%): 2.4
Consumers (millions): 31.4
Peru’s Main Imports (from the world): Machinery and mechanical appliances/parts; mineral fuel, oil; electric machinery; vehicles; plastics and articles thereof
Canada's merchandise exports to Peru (2012-2014 annual average) (value in millions of Canadian dollars)
- Agriculture and Agri-food (360.1)
- Forestry Products (33.9)
- Industrial Machinery (80.7)
- Construction Equipment (28.9)
- Iron and Steel Products (28.5)
- Chemical Products (24.7)
- Other Industrial Products (168.6)
Canada currently has a free trade agreement with Peru. From 2012 to 2014, Canada exported an annual average of $725.5 million worth of merchandise to Peru.
Complementing Existing Preferential Access to Peru
The Canada-Peru Free Trade Agreement (CPFTA) came into force in 2009.
The majority of tariffs on goods between Canada and Peru have already been eliminated or are being phased out under the CPFTA.
Content rules in the TPP will enhance Canadian producers’ and processors’ ability to source materials from TPP countries when exporting preferentially to Peru under the TPP.
Canadian producers and processors that source inputs from Peru will be able to continue to do so while benefiting from preferential access to other TPP countries.
Canada and Peru already benefit from strong commitments under our bilateral FTA.
With that said, the TPP will include improved market access commitments into Peru in some sectors, such as legal services, and accounting, auditing, and bookkeeping services.
With regard to temporary entry of business persons, new commitments will make it easier for Canadian businesses to temporarily move certain categories of business persons to Peru. These new commitments include enhanced access for certain highly-skilled Canadian professionals and technicians.
Furthermore, the TPP provides new temporary entry commitments from Peru for the spouses of certain covered Canadian business persons.
Canadian suppliers will also gain enhanced access to public procurement at the sub-national level in Peru.
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