U.S. Chamber welcomes Peru trade agreement

U.S. Chamber welcomes Peru trade agreement    The U.S. Chamber of Commerce Wednesday praised the announcement that the United States and Peru had concluded negotiations that could lead to an eventual trade agreement with three countries on the West Coast of South America.
   The United States and Peru concluded talks concerning Peru's participation in the proposed U.S.-Andean Trade Agreement. Negotiations are still continuing with Colombia and Ecuador.
   'This agreement spells opportunity for business and agriculture in the United States and Peru,' said Thomas Donohue, U.S. Chamber president and chief executive officer. 'It also sends a message to our friends and allies in the Andean region about our commitment to democracy, the rule of law, workers' rights, and transparency in business and government.'
   U.S. exports to Andean countries are hit with an average tariff of 12 percent, while the United States has virtually no tariffs on imports from those countries as a result of the 1991 Andean Trade Preference Act. The proposed new agreement would help eliminate that imbalance, the Chamber noted.