House committee action moves U.S.-Peru trade pact closer to approval

House committee action moves U.S.-Peru trade pact closer to approval The House Ways and Means Committee unanimously approved the U.S.-Peru Trade Promotion Agreement during a markup session held Wednesday morning.
   The trade deal will expand market access for U.S. goods in Peru, such as machinery, electronics, plastics and agricultural commodities. In 2006, U.S. goods exports to Peru totaled $2.9 billion, up more than 25 percent over the previous year.
   U.S. trade groups urge the Congress to pass the U.S.-Peru free trade agreement by early next week.
   'We hope that both the House and Senate will complete action on the Peru agreement within the next few days, and that Congress will then take up other important FTAs awaiting approval,' said Mary Irace, vice president for trade and export finance at the Washington-based National Foreign Trade Council. Other pending free trade agreements are Colombia, Panama and South Korea.