"On April 12, U.S. Trade Representative Rob Portman and Peruvian Minister of Foreign Trade and Tourism Alfredo Ferrero Diez Canseco signed the U.S.-Peru Trade Promotion Agreement (PTPA). The agreement was concluded on December 7, 2005. On January 6, 2006, President Bush notified the Congress of the United States' intention to enter into the PTPA. A free trade agreement with Peru was originally intended to be part of a broader U.S.-Andean free trade agreement (FTA), but after negotiators failed to reach agreement, Peru and the United States decided to move forward on a bilateral basis. The PTPA is a comprehensive trade agreement that, if ratified, would eliminate tariffs and other barriers in goods and services trade between the two countries. The labor provisions may be among the more controversial of the agreement. On June 4, 2006, presidential candidate, Alan García, won the run-off elections in Peru. He has stated he will honor the trade agreement with the United States. See also CRS [Congressional Research Service] Report RS22430, 'Peru: 2006 Elections and Issues for Congress', by Maureen Taft-Morales. This report will be updated as events warrant."
CRS Report for Congress, RS22391
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