Peru ratifies trade agreement
Peru's Congress early Wednesday quickly offset any concerns about the nation's support for a free trade agreement with the U.S., voting overwhelmingly to ratify the agreement following a six-hour debate on Tuesday.
The vote will prevent any disruption of trade preferences enjoyed by Peru under the U.S. Andean Trade Preferences and Drug Enforcement Act, which expires this December 31. The U.S. has steered away from regional trade negotiations during the Bush administration, opting instead for bilateral agreements with individual nations.
The 120-member legislature ratified the trade agreement 79-14, according to an Associated Press report. Trade negotiators for the two countries approved the agreement late last year and President Alejandro Toledo signed off on the pact in April. Toledo had pressed hard to get the agreement ratified before he leaves office July 28. The agreement also has the backing of president-elect Alan Garcia, but Toledo wanted the deal finalized on his watch.
Recent press reports indicated Peruvian opposition to the agreement had surfaced as the legislative debate neared. That debate was halted briefly, in fact, when several legislators-elect literally fought their way onto the floor of Congress to express opposition. The protesters were removed from the building during a half-hour suspension of the session, and statements continued.
The legislators then voted in favor of the agreement early Wednesday morning.
Peru ratifies trade agreement
