WT/TPR/S/289/Rev.1  
7 February 2014  
(14-0743)  Page: 1/115  
Trade Policy Review Body   
 
 TRADE POLICY REVIEW 
REPORT BY THE SECRETARIAT 
PERU 
Revision 
This report, prepared for the fourth Trade Polic y Review of Peru, has been drawn up by the 
WTO Secretariat on its own responsibility. The Se cretariat has, as required by the Agreement 
establishing the Trade Policy Review Mech anism (Annex 3 of the Marrakesh Agreement 
Establishing the World Trade Organization), sought clarification from Peru on its trade policies and practices.  
Any technical questions arising from this report may be addressed to Mr Ricardo Barba-Viniegra 
(022 739 50 88) or Mrs Eugenia Lizano (022 739 65 78).  
Document WT/TPR/G/289 contains the policy statement submitted by Peru. 
 
 
Note: This report was drafted in Spanish. WT/TPR/S/289/Rev.1 • Peru 
 
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  CONTENTS 
SUMMARY ....................................................................................................................... . 6 
Economic envi ronment ...................................................................................................... 6  
Trade and investment policy framework ............................................................................... 7  
Trade policy by  measure .................................................................................................... 7  
Trade policy by  sector ....................................................................................................... 9 
1   ECONOMIC ENVIRONMENT ........................................................................................ 11  
1.1   Overview of the economy .......................................................................................... 11 
1.2   Economic trends ....................................................................................................... 12 
1.2.1   Macroecono mic indica tors ....................................................................................... 12 
1.2.2   Balance of payments .............................................................................................. 14 
1.3   Trends in trade and investme nt flows .......................................................................... 15 
1.3.1   Trad e in goods ...................................................................................................... 15 
1.3.2   Trade in services ................................................................................................... 16 
1.3.3   Foreign di rect inve stment........................................................................................ 19 
1.4   Outlook ................................................................................................................... 19 
2   TRADE AND INVE STMENT RE GIME ............................................................................ 21  
2.1   Genera l framework ................................................................................................... 21 
2.2   Trade policy objective and formulation ......................................................................... 22 
2.3   International trade relations ....................................................................................... 24 
2.3.1   WTO ................................................................................................................... . 24 
2.3.2   Regional agreements .............................................................................................. 25 
2.3.2.1   Ande an Community ............................................................................................. 25 
2.3.2.2   Trade Promotion Agreement between the United States and Peru ............................... 26 
2.3.2.3   Other agreements ............................................................................................... 27 
2.4   Foreign inve stment regime ........................................................................................ 27 
3   TRADE POLICIES AND PRACTICES BY MEASURE ........................................................ 30  
3.1   Measures a ffecting imports ........................................................................................ 30 
3.1.1   Customs procedures ............................................................................................... 30 
3.1.2   Custom s valuation ................................................................................................. 32 
3.1.3   Rules of origin .......................................................................................................  32 
3.1.4   Tariffs ............................................................................................................... ... 33 
3.1.4.1   Bindings ............................................................................................................  36 
3.1.4.2   Tariff quotas ....................................................................................................... 36 
3.1.4.3   Preferential tariffs ............................................................................................... 36 
3.1.4.4   Tariff concessions ................................................................................................ 37 
3.1.5   Othe r charges ....................................................................................................... 38 
3.1.6   Quantitative restrict ions, controls and licences ........................................................... 40 
3.1.7   Anti-dumping, countervai ling and safegu ard measures ................................................ 41 
3.1.7.1   Anti-dumping and countervailing measures ............................................................. 41 WT/TPR/S/289/Rev.1 • Peru 
 
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  3.1.7.2   Safeguards ........................................................................................................ 43 
3.1.8   Technical regu lations and standards ......................................................................... 44 
3.1.9   Sanitary and ph ytosanitary measures ....................................................................... 47 
3.2   Measures a ffecting exports ........................................................................................ 50 
3.2.1   Registration and documentation ............................................................................... 50 
3.2.2   Export duties ........................................................................................................ 51 
3.2.3   Quantitative restrict ions, controls and licences ........................................................... 51 
3.2.4   Support  for exports ................................................................................................ 52 
3.2.5   Financing, in surance and promotion ......................................................................... 52 
3.3   Other measures affect ing production and trade ............................................................. 53 
3.3.1   In centives ............................................................................................................  53 
3.3.1.1   Sectoral support pr ogrammes ............................................................................... 53 
3.3.1.2   Support for micro and small enterp rises (M SEs)....................................................... 54 
3.3.2   Regional deve lopment programmes .......................................................................... 55 
3.3.3   Competition poli cy and pric e cont rol ......................................................................... 57 
3.3.3.1   Competition policy .............................................................................................. 57 
3.3.3.2   Protection of consumers ....................................................................................... 60 
3.3.3.3   Pr ice cont rol .......................................................................................................  61 
3.3.4   State trading, State-owne d enterprises and privatization ............................................. 62 
3.3.5   Governme nt procurement ....................................................................................... 62 
3.3.6   Trade-related intellectual property rights ................................................................... 66 
3.3.6.1   Institutional framework ........................................................................................ 66 
3.3.6.2   Legal framework ................................................................................................. 67 
3.3.6.3   Participation in the WTO ....................................................................................... 67 
3.3.6.4   Participation in ot her internationa l initiatives ........................................................... 68 
4   TRADE POLICIES BY SECTOR ..................................................................................... 69  
4.1   Agricult ural se ctor .................................................................................................... 69 
4.1.1   General features  and policy objectives ...................................................................... 69 
4.1.2   Border  measures ................................................................................................... 70 
4.1.3   Other measures ..................................................................................................... 71 
4.2   Fishing .................................................................................................................... 73 
4.3   Mining, exclud ing hydrocarbons .................................................................................. 75 
4.4   Manuf acturi ng .......................................................................................................... 78 
4.5   Services ................................................................................................................ .. 80 
4.5.1   Main features ........................................................................................................ 80 
4.5.2   Financial services ................................................................................................... 81 
4.5.2.1   Banking services ................................................................................................. 84 
4.5.2.2   Insura nce services .............................................................................................. 85 
4.5.3   Telecommunications ............................................................................................... 86 
4.5.4   Air transp ort .........................................................................................................  89 WT/TPR/S/289/Rev.1 • Peru 
 
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  4.5.5   Maritime transport ................................................................................................. 91 
REFERENCES .................................................................................................................. 9 4 
5   APPENDIX  TABLES .................................................................................................... 95  
 
CHARTS 
 Chart 1.1 Merchandise trade by product, 2007 and 2012 ....................................................... 17
 
Chart 1.2 Merchandise trade by trading partner, 2007 and 2012 ............................................. 18 
Chart 3.1 Breakdown of M FN tariffs, 2007 and 20 13 ............................................................. 35 
Chart 3.2 Selection procedures according to th resholds , 2012 ................................................ 64 
Chart 3.3 Trend in government procurement according to subject matter, 2007-2012 ................ 66 
 
TABLES 
 
Table 1.1 General overvi ew of Peru , 2007-2 012 ................................................................... 12 
Table 1.2 Economic indicators, 2007-2012 ........................................................................... 13 
Table 1.3 Balance of payments, 2007-2012  ......................................................................... 14 
Table 1.4 Trade in services, 2007-2012 ............................................................................... 16 
Table 1.5 Foreign direct investment, 2007-2012 ................................................................... 19 
Table 2.1 Regulations ....................................................................................................... 21 
Table 2.2 Main trade and inve stment legislation, 2013 .......................................................... 23 
Table 3.1 Non-preferential criteria of origin .......................................................................... 33 
Table 3.2 MFN tariff st ructure, 2007 and 20 13 ..................................................................... 34 
Table 3.3 Tariff structure by type of goods, 2007 and 2012 .................................................... 36 
Table 3.4 Analysis of Peru's preferential tariff, 2013 .............................................................. 37 
Table 3.5 Import taxes, 2007-20 13 .................................................................................... 39 
Table 3.6 Selective Consumption Tax (ISC) on certain alcoholic beverages, 2013 ...................... 40 
Table 3.7 Prohibited  imports,  2013  ..................................................................................... 41 
Table 3.8 Anti-dumping and countervailing measures, 2007-2012 ........................................... 43 
Table 3.9 Legal framework governing Pe ru's standardizat ion system , 2013 .............................. 44 
Table 3.10 Legal framework for sanitary  and phytosanitar y matters,  2012 ............................... 48 
Table 3.11 Notifications of SPS measures to the WTO, 2007-2013 (May) .................................. 50 
Table 3.12 Types of viol ation of co mpetition ........................................................................ 59 
Table 3.13 Types of unfair competition violation ................................................................... 60 
Table 4.1 Types of agriculture ............................................................................................ 70 
Table 4.2 Principal agricultural programmes and institutions, 2013 .......................................... 72 
Table 4.3 Main mining  indicators , 2007-2012  ....................................................................... 76 
Table 4.4 Manufacturi ng GDP, 2007-2012  ........................................................................... 79 
Table 4.5 Structure of the financial sector, December 2012 .................................................... 81 
Table 4.6 Selected telecommunications indicators, 2007-2012 ................................................ 86 
 WT/TPR/S/289/Rev.1 • Peru 
 
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  BOXES 
 Box 3.1 Imports exempt from payment of customs duty ........................................................ 38
 
Box 3.2 Procedure for dumping or subsidy investigations and review of definitive 
duties , 2013 ................................................................................................................... . 42 
Box 3.3 Procedure for sa feguard meas ures, 2013 ................................................................. 44 
Box 3.4 Standardiz ation procedure ..................................................................................... 45 
Box 3.5 Risk categories .................................................................................................... 49 
Box 3.6 Export regime s or proc edures ................................................................................ 51 
Box 3.7 Tax concessions granted in special trea tment zo nes .................................................. 56 
Box 3.8 Responsibilities of the inst itutions ........................................................................... 58 
Box 3.9 Legal instruments regulating protection of consumers ................................................ 60 
 
APPENDIX TABLES 
 
Table A1. 1.Merchandise expo rts by produc t, 2007- 2012 ....................................................... 95 
Table A1. 2 Merchandise impo rts by produc t, 2007- 2012 ....................................................... 97 
Table A1. 3 Merchandise exports by trading partner, 2007-2012 ............................................. 99 
Table A1. 4 Merchandise imports by trading partner, 2007-2012 ........................................... 100 
 Table A2. 1 Selected notifica tions to the WTO, 2013 ........................................................... 101
 
Table A2. 2 New regional trade agreements signed by Peru that have entered into force 
since 2007 ....................................................................................................................  103 
 
Table A3. 1 Principal origin criteria under the regional agreements signed by Peru 
since 2007 ....................................................................................................................  108 
Table A3. 2 Preferenti al quotas , 2012 ............................................................................... 110  
Table A3. 3 State enterprises, 2012 .................................................................................. 113 
 Table A4. 1 Analysis of the MFN tariff, 2013 ....................................................................... 115
 
 WT/TPR/S/289/Rev.1 • Peru 
 
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  SUMMARY 
1. Peru's economic performance since its last TP R in 2007 has been exceptional, with strong 
real GDP growth, low inflation, an improved fi scal position, reduced debt and strengthened 
external accounts. This reflects prudent macroeconomic management and the continuation 
of structural reforms that have facilitated the expansion of FDI inflows. The Peruvian economy also 
weathered the global financial crisis well, partly as a result of a countercyclical fiscal stimulus that supported economic activity and sustained employment. While poverty has been reduced 
and living standards have improved, progress in social inclusion has been slow. Continuation 
of high growth in the years to come will require enhancing competitiveness and innovation, further improving the business climate, and investing more in human capital and infrastructure. 
2. Peru's trade policy developments during the peri od under review were marked by its active 
participation in regional trade agreements. Since 2007, 14 new regional trade agreements have 
entered into force, one more has been concluded but is not yet in force, and several others are under negotiation. As a result of the agreement with the United States, and in order to fully benefit 
from its wide network of regional trade agreem ents, Peru made important changes to its trade 
policies and practices by issuing new laws on, inter alia , customs, government procurement, 
and intellectual property rights. Peru also made changes to its regulatory framework to promote 
competitiveness and investment. Most of these changes are applied on an MFN basis. 
Despite its emphasis in regionalism, Peru continues to be an active member in the WTO and has unilaterally liberalized its trade regime including through a reduction of its MFN applied tariff from an average of 8% in 2007 to 3.2% in 2013. 
Economic environment 
3. The Peruvian economy recorded a strong performance during 2007-2012, with an annual 
average GDP growth rate of almost 7%, despite the deterioration in the international economic 
environment. Growth benefited from the dynamism  shown by non-primary sectors (construction, 
trade, and services), strong public and private investment, and consumption, and increased exports of goods and services.  
4. Rapid economic growth during the period under  review resulted in a continued increase 
in GDP per capita in dollar terms, which rose from US$3,772 in 2007 to US$6,623 in 2012. Unemployment fell from 8.4% to 6.8% during th e period, as did both total and extreme poverty. 
However, social disparities throughout the country remain high, particularly between rural 
and urban areas. 
5. The Peruvian economy weathered the global financial crisis of 2008-2009 relatively well, 
partly as a result of a countercyclical fiscal stimulus of about 1.25% of GDP. Consequently, in 2009 
there was a fiscal deficit of 1.3% of GDP. The fi scal stimulus was gradually removed as economic 
activity recovered, which allowed fiscal surpluses of about 2% of GDP in 2011 and 2012. 
6. Peru had current account deficits throughout  the period under review except in 2007. 
The current account went from a surplus of 1.4% of GDP in 2007 to a deficit of 3.6% in 2012. 
The trade balance surplus narrowed substantially in 2008-2009 and in 2012 because of deteriorating terms of trade due to the global ec onomic crisis. Peru is a net importer of services, 
with a deficit of around US$2 billion per year during 2007-2012. Significant net capital inflows 
allowed an increase in the stock of international reserves to almost US$64 billion in 2012, 
equivalent to 32% of GDP. 
7. The period under review was particularly dynamic for Peru’s trade, with exports and imports 
almost doubling. As one of the world's leading producers of raw materials, Peru has increased 
its dependence on mineral exports, particularly  copper and gold which accounted for about 10% 
of GDP in 2012. Agricultural and manufacturing exports represented 17% and 12%, respectively, 
of total merchandise exports in 2012.  China, the European Union and the United States together 
accounted for almost half of Peru's total exports in 2012, with China overtaking the United States as the main buyer. WT/TPR/S/289/Rev.1 • Peru 
 
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  8. Manufactured imports accounted for almost three quarters of total merchandise imports 
in 2012, led by machinery and transport equipment, and chemicals. The United States, China and the European Union are Peru's main source of imported goods. Together, 
they accounted for 49% of the total in 2012 (41% in 2007)
. 
9. Peru's annual inflow of FDI jumped fr om an average of US$2 billion in 2000-2006 
to US$7.900 billion in 2007-2012. Further expansion of FDI flows will benefit from improved 
infrastructure and business environment. 
Trade and investment policy framework 
10. Peru attaches particular importance to its participation in the multilateral trading system, 
considering it fundamental to achieving its main trade policy objective of a sustained increase in trade, particularly of non-traditional sectors, enhancing the competitiveness of Peruvian goods and services, and fostering trade and investment flows with the world at large. 
11. Peru remains committed to the successful conclusion of the Doha Development Agenda 
(DDA), where it has presented, independently and together with other delegations, a number 
of proposals. During the review period, Peru  participated in one case brought before 
the WTO Dispute Settlement Body as respondent but did not participate as complainant; it was 
involved six times as a third party. Peru is not a member nor has observer status in the plurilateral Agreement on Government Procurement. It has participated in the Information Technology 
Agreement since 2009. During the period under review Peru presented numerous notifications 
to the WTO and by mid-2013 only a small number remained outstanding, in particular concerning domestic support to agriculture. 
12. Since 2007, Peru has actively negotiated several regional trade agreements, 14 of which 
have entered into force: Canada, Chile, China, Costa Rica, European Free Trade Association 
(EFTA), European Union, Japan, Korea (Rep. of), Mexico, Panama, Singapore, Thailand, 
the United States, and the Bolivarian Republic of Venezuela. Peru also concluded a trade 
agreement (not yet in force) with Guatemala, and is negotiating others with El Salvador, 
Honduras, as well as in the context of the Pacific Alliance, and the Trans-Pacific Partnership (TPP). In addition, Peru is a founding member of the Andean Community, has a free trade agreement 
with MERCOSUR and other agreements within th e framework of the Latin American Integration 
Association (LAIA). In total, Peru has 17 regional trade agreements in force with 52 countries. In 2012, about three quarters of Peru's total exports and imports went to trading partners with which Peru has regional trade agreements. 
13. In general, foreign investors in Peru receive the same legal treatment as local investors. 
However, foreign investment is restricted in ce rtain activities, such as maritime services and 
air transport. The Government seeks to promote public-private investment partnerships, 
particularly in transport, energy, and other technology-intensive sectors, in order to overcome 
infrastructure bottlenecks, spur competitiveness, and uphold economic growth. The investment incentives generally consist of tax exemptions and low-cost financing; normally, they do not 
distinguish between domestic and foreign investors. 
Trade policy by measure 14. Peru considers trade as one of the pillars to  promote economic growth and development. 
Reflecting this, since 2007 Peru has implemented policies to facilitate trade and continued 
its programme of unilateral tariff liberalization. Peru has simplified its customs and administrative 
procedures by creating the single window for foreign trade in 2006 as a system to facilitate trade, operational in 2010, and by fostering the use of  a risk-analysis system to clear merchandise 
through customs, thus reducing the frequency of inspections. Despite these achievements, 
further efforts are needed to facilitate trade, including through the improvement of infrastructure. 
15. During the period under review, Peru has continued to reduce its tariffs on a unilateral basis, 
as a result the simple average rate declined from 8% in 2007 to 3.2% in 2013, one of the lowest 
in the continent. The reduction of the maximum applied rate from 20% in 2007 to 11% in 2013 has been one of the most important changes in Peru 's tariff structure. In addition, the percentage 
of duty-free tariff lines increased from 43.6% to 55.9% during the same period. However, amidst WT/TPR/S/289/Rev.1 • Peru 
 
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  this generally liberal policy, Peru continues to apply a price band system on some agricultural 
goods: rice, sugar, maize and dairy products. In general, the tariffs applied by Peru are ad valorem , with the exception of those under the price band system, which have 
an ad valorem  and a specific component; the duties that result from the application of the price 
band system vary according to the international price of the products concerned. This adds 
complexity to the otherwise transparent and simp le tariff structure. The price band system has 
been partially eliminated under certain regional agreements and totally eliminated in others, 
such as the agreement with the United States. 
16. Peru applies tariff quotas as an instrument to enhance market access on a preferential basis. 
As such, Peru has negotiated and applies preferential tariff quotas under certain regional agreements; however, these are rarely used. 
17. Peru bound all its tariff lines at: 0%, 30% and 68%. The highest rate applies to agricultural 
goods, some of which are also subject to the price band mechanism. However, according to domestic legislation, the rate which results from the calculation of the application of the price 
band system cannot exceed the WTO bound tari ff rate, which is the maximum rate applied. 
18. In addition to the tariff, imports are also subject to domestic taxes and other charges. 
Definitive imports and those to be deposited in customs warehouses are subject to an ad valorem  
charge for processing the Customs Declaration for Goods ( Declaración Aduanera 
de Mercancía , DAM) of 2.35% of the Tax Unit ( Unidades Impositivas Tributarias  UIT), when the 
declared value of the merchandise equals or exceeds a threshold defined as three times the value of a Tax Unit. The procedure to apply the Selective Consumption Tax ( Impuesto Selectivo 
al Consumo , ISC) on most nationally-produced and imported alcoholic beverages has changed 
since the last review; at present its application depends in most cases, upon the spirit's alcohol content. The additional tax of 5% that applied to some 392 tariff lines (HS 2012 at the ten-digit 
level) was eliminated in 2007. 
19. Peru introduced modifications to its legislation regarding trade remedies in 2009. 
These changes relate to, inter alia , the method to calculate the normal value and the margin 
of dumping in special cases; the duration of  the antidumping and countervailing measures; 
the time periods and procedures to file for reimbursement of provisional duties unnecessarily imposed or paid in excess; and the procedure to undertake sunset reviews. During the period reviewed, Peru initiated eight new investigations. In the same period, four countervailing 
investigations were conducted, resulting in the imposition of two countervailing measures, 
and only one safeguard investigation was initiated but no measure was applied. 
20. Imports and exports subject to restrictions or prohibitions are few and remain largely 
unchanged since the last review. These restrictions are imposed on health, security 
and environmental grounds, and to comply with commitments contained in international agreements to which Peru is a signatory. Peru's standardization and sanitary policies also aim 
at protecting human, animal and plant health. In general, technical regulations 
and SPS requirements are based on internationa l standards. The SPS system operates on the 
principle of the harmonization of policy in the different sectors and
 Peru considers it key 
to promote the quality and competitiveness of its exports. 
21. One of Peru's most important trade policy obje ctives is to promote exports. To this end, 
Peru has simplified export procedures and continues to apply a number of export support, financing, insurance and promotion programmes. The drawback system, which allows for 
reimbursement of a specific percentage of the f.o.b. value of exports, is still in place. The 
drawback system applies to exports whose valu e does not exceed US$20 million. The drawback 
r a t e  i s  a t  p r e s e n t  5 % ;  h o w e v e r ,  t h i s  r a t e  m a y  b e  m o d i f i e d  i n  a c c o r d a n c e  w i t h  e c o n o m i c  
circumstances, as was the case in 2009 when it was increased to 8% in response to the financial 
crisis. Some of Peru's traditional exports (about 279 tariff lines at the ten-digit level) are excluded from this regime. To qualify for benefits under ce rtain programmes to finance exports of goods and 
services, certain criteria have to be met, including complying with export or domestic origin 
thresholds.  WT/TPR/S/289/Rev.1 • Peru 
 
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  22. Peru continues to use fiscal incentives as an instrument to promote investment in specific 
sectors, as well as other support programmes to promote regional development and to contribute to social equality, such as the programme to establish the "special treatment zones" 
in disadvantaged areas of the country. 
23. In 2008, with a view to updating the rules on protection of competition, Peru adopted a new 
law on the subject. In addition to this piece of legislation that addresses competition issues 
on a horizontal basis, Peru has legislation that deals with competition issues in the electricity 
sector. These laws specific to the electricity sector have not undergone major changes during the 
period under review. The institutional capacity of the bodies in charge of competition issues within INDECOPI has been strengthened since the last review. As a result, the number of cases initiated ex-officio has increased since 2007 and so have the fines. 
24. During the period under review, Peru also strengthened the legal and institutional 
framework related to government procurement, through the introduction of new legislation. This aims particularly at increasing efficiency , competition and transparency. Some preferences 
remain in place to benefit small and medium en terprises and local producers. Peru also made 
important changes to the legal framework of it s intellectual property protection regime, 
some of them to comply with commitments undertaken in the context of regional trade 
agreements and others to adequately protect Peru 's biodiversity, genetic resources and traditional 
knowledge. Protection in these areas has been a priority for Peru, hence its active participation in the DDA in this regard. 
Trade policy by sector 
25. Peru's agriculture sector contributes 7.2% to GDP, and plays an important role as a source 
of exports and employment. During the review period, agricultural GDP (including hunting and forestry but excluding fishing) grew at an a nnual average rate of 4.7%. However, productivity 
in various segments remains low. Peru’s support to agriculture consists of general services and 
measures to facilitate access to credit and debt reduction programmes. 
26. Using the WTO definition of agriculture, th e average MFN applied tariff fell from 12.9% 
in 2007 to 3.9% in 2013. One of the reasons for th is decline was the elimination of the 20% rate 
affecting mainly agricultural products such as meat, dairy products, fruits and vegetables, cereals and food preparations. Also, Peru abolished the 5% tariff surcharge which was applied on 392 ten-digit tariff lines. 
27. Peru continues to operate a "price band system" on 47 ten-digit tariff lines (HS 2012) 
related to rice, sugar, maize and dairy products. Calculating the price band system for the first 
quarter of 2013, the average MFN tariff on agricu ltural products increased from 3.9% to 4.3%. 
28. The value of fisheries production has increased every year since 2007, albeit at a lower rate 
than the economy as a whole. The fisheries sect or contributes only about 1% to total exports 
because only a small amount is processed and exported. The average MFN applied tariff 
on fish and fish products is 0.4%, with a maximu m rate of 6%. Peru's legislation does not limit 
foreign ownership of fishery enterprises, processing plants, or aquaculture operations. However, foreign-flag vessels may be granted fishing permits only to the extent that this supplements the activity of the Peruvian fleet. Certain tax benefits and reductions in the price 
of fishing permits are contingent upon unloading the catch in Peru. 
29. Mining is a cornerstone for the Peruvian economy: it contributes about 5% to GDP, accounts 
for about 20% of fiscal revenues, is an important source of employment, generates almost 
two-thirds of export revenues, and is one of the main targets of FDI inflows.  Production of basic 
metals (copper, zinc, molybdenum, iron and lead) and precious metals like gold and silver has declined in recent years partly due to the po stponement of some new mining projects because 
of fears about their environmental impact. The average MFN tariff applied to the mining sector 
is 2.7%, with a maximum rate of 6%. Holders of mining concessions benefit from sector-specific tax stability contracts. In 2011, the mining royalty system was modified to raise about US$1 billion or 0.5% of GDP per year for social and infr astructure projects in the poorest areas. WT/TPR/S/289/Rev.1 • Peru 
 
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  30. Peru has a diversified manufacturing sector led by food, chemicals, textiles, and leather 
products. The share of manufacturing in GDP fell from 15.7% in 2007 to 14.2% in 2012 due to an erosion of competiveness which translated into rising imports and slow-growing exports. The average MFN applied tariff on manufacturing pr oducts is 3.2%, with a maximum rate of 11% 
for some textiles and clothing, and other manufactured goods. Peru is taking steps to encourage 
innovation and technological development in the sector. 
31. Peru made commitments in seven of the 12 services sectors under the GATS, signed the 
Fourth Protocol on Basic Telecommunications, accepted the Reference Paper on regulatory 
principles in telecommunications, and signed the Fifth Protocol on Financial Services. Peru's services commitments in its various region al trade agreements go beyond those included 
in the GATS schedule or in the offer presented in the context of the DDA. Peru is also part 
of a group of WTO Members that are negotiating a new international agreement on services. 
32. Peru's financial system managed to weather the global financial crisis of 2008-2009 in part 
because of the existence of an appropriate regu latory framework. The sound situation of the 
financial sector has been reflected in a higher level of financial intermediation through a growing 
volume of loans and deposits. Despite progress in recent years, there is still a high level of dollarization in the financial system. Prudential indicators for the banking sector have been 
maintained at adequate levels even though the quality of the bank's loan portfolios deteriorated 
somewhat in recent years. Peru lowered its tax ra te on financial transactions from 0.08% in 2007 
to 0.005% nowadays. 
33. The liberalization process in telecommunications has continued since Peru's previous review, 
although one private firm still controlled over 70% of all fixed telephone lines and almost 50% 
of the mobile market at the end of 2012. The pric e basket for fixed-line services, mobile telephony 
and broadband are still relatively high in Peru despite market liberalization and improved service 
quality. In 2007, Peru eliminated its restriction on foreign participation in radio broadcasting 
services (up to 40% of the capital stock or of stakeholders). 
34. In the transport sector, regulatory progress continues to be made but problems related 
to infrastructure persist in certain activities. In air transport, up to 49% foreign participation 
is allowed at the start of operations by firms established in Peru, which may be increased to 70% after six months. Peruvian firms that provide regular international air transport services are required to provide a similar national servic e. In maritime transport, cabotage services 
are reserved to national flag vessels with ma jority Peruvian ownership. A maximum of 25% 
of the volume of hydrocarbons transported on national routes is reserved for Peru's navy. Although the law establishes freedom of routes, the reciprocity principle may be applied to foreign 
trade cargoes. 
 WT/TPR/S/289/Rev.1 • Peru 
 
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  1  ECONOMIC ENVIRONMENT 
1.1  Overview of the economy 1.1.  Peru has a relatively open and diversified economy that depends increasingly on international 
trade. Its trade (exports plus imports) to GDP ratio grew from 27% in 2002 to nearly 50% 
in 2012
1, and the rapid expansion of merchandise trade has gone hand-in-hand with changes in its 
composition and direction. The share of traditional exports (basically goods obtained from the extraction and processing of natural resources) has increased significantly, reflecting rising prices 
among oil and petroleum products during much of the review period, as well as in products such 
as coffee, copper and gold. While the United States, China and the European Union remain 
Peru's leading trading partners, China's share has grown substantially (section 1.3.1). 
1.2.  The services sector is the leading econom ic activity, accounting for nearly half of the 
country's GDP and employment (Table 1.1), an d is followed by the manufacturing sector, 
which contributes 14% of real GDP, absorbs 16 % of employment and represents 12% of total 
goods exports. Agriculture and fishing also continue to make major contributions to real GDP, 
employment and merchandise exports (section 4.1). Peru's natural resource wealth makes it one 
of the world's leading mineral producers (the third largest producer of silver, copper, zinc and tin; 
fourth producer of lead, molybdenum and mercury; and the sixth largest gold producer).
2 Mining 
as a whole contributes 4.7% of real GDP and generates about 60% of merchandise export 
earnings (section 1.3.1). 
1.3.  Since its previous trade policy review in 2007, the Peruvian economy has performed very 
strongly both in regional term s and by historical standards3, with real GDP growing at an average 
annual rate of 6.9% between 2007 and 2012 (c ompared to 4.8% between 2000 and 2006). 
This has been the result of sound macroeconomic fundamentals, robust domestic demand and a strong export performance, particularly in the case of raw materials. Peru was also able 
to overcome the global economic crisis in 2009- 2010, thanks partly to a countercyclical fiscal 
policy that included a public expenditure stimulus equivalent to 1.25% of GDP in 2009, which was later phased out as economic activity recovered (section 1.2.1). 
1.4.  The rapid economic growth recorded during the review period underpinned a continuous 
recovery of per capita GDP in dollar term s, which grew from US$3,772 in 2007 to US$6,623 
in 2012, together with lower unemployment, which dropped from 8.4% to 6.8% during the period, and reductions in both total and extreme povert y (Table 1.1). Nonetheless, major disparities 
persist across the country, particularly between rural and urban areas.
4 Peru's Human 
Development Index ranks it 77th out of 187 countries.5 
1.5.  Between 2007 and 2012, Peru also kept inflation at relatively low levels, improved its fiscal 
position, reduced the public debt and strengthened its external accounts. All of this reflects 
prudent macroeconomic management and the continuation of its structural reforms which have encouraged investment growth (section 1.3.3).
6 
                                               
1 While the ratio of trade to GDP reached 34% in the early 1980s, it shrank to 14% in the 
period 1987-1989 owing to a lack of investment in sect ors other than mining and hydrocarbons, compounded 
by various infrastructure problems. 
2 Ministry of Energy and Mining (2013). 
3 In the period 2002-2012, Peru almost doubled the size of its economy as a result of the highest 
decade-average economic growth rate in its history, together with the lo west average inflation rate in all 
of Latin America. 
4 In 2011, while the total poverty rate in urban zones was 18%, it was 56% in the rural area. 
Nonetheless, between 2007 and 2011, poverty reduction was greater in rural than in urban zones (-17.9 percentage points, compared to -12.1). Central Reserve Bank of Peru (2013). 
5 Online information from the United Nations Development Programme (UNDP). Viewed at: 
http://hdrstats.undp.org/en/countries/profiles/PER.html. 
6 After a period of slow economic growth in 1998- 2001, basically owing to the crisis that broke out 
in Asia, Peru started to implement ambitiou s structural reforms which remain ongoing. WT/TPR/S/289/Rev.1 • Peru 
 
- 12 - 
 
  Table 1.1 General overview of Peru, 2007-2012 
 2007  2008  2009  2010 2011 2012  
GDP per capita (US$) 3,772 4,413 4,372 5,224 5,929 6,623 
Population (millions of inhabitants) 28.5 28.8 29.1 29.5 29.8 30.1 
Demographic growth (%) 1.2 1.1 1.1 1.1 1.1 1.1 
Unemployment (%) 8.4 8.4 8.4 7.9 7.7 6.8 
Total poverty (%)a 42.4 37.3 33.5 30.8 27.8 25.8 
Extreme poverty (%)b 11.2 10.9 9.5 7.6 6.3 6.0 
Share of GDP (at 1994 prices)       
Agriculture and forestry 7.9 7.7 7.8 7.5 7.3 7.2 
Fishing 0.5 0.5 0.4 0.4 0.4 0.4 
Mining and hydrocarbons 5.8 5.7 5.7 5.2 4.9 4.7 
Manufacturing 15.7 15.5 14.3 15.0 14.9 14.2 
Electricity and water 2.1 2.0 2.0 2.0 2.0 2.0 
Construction 5.6 5.9 6.2 6.7 6.5 7.0 
Trade 14.6 15.0 14.9 15.0 15.3 15.3 
Services 47.9 47.6 48.6 48.1 48.7 49.2 
Share of employment (%)c       
Manufacturing 17.1 16.7 16.0 16.8 16.7 16.4 
Construction 6.2 6.5 6.3 7.1 7.0 7.2 
Trade 22.0 22.1 22.3 21.8 21.5 21.2 
Services 53.1 53.2 54.1 52.9 53.5 53.6 
Other 1.6 1.5 1.3 1.4 1.3 1.6 
 
a Population that can satisfy its food needs but cannot afford a basket of basic food and 
non-food products. 
b Population whose monthly consumption expenditure is less than the value of a basic food basket. 
c Economically active population in Metropolitan Lima. 
Source: Central Reserve Bank of Peru (2013), Memoria Anual 2012 , Lima. 
1.6.  Since 1991, the domestic currency has been the nuevo sol (S /.). Peru does not apply foreign 
exchange restrictions. The Central Reserve Bank of Peru (BCRP), which is responsible for 
formulating monetary and foreign exchange policy,  operates a managed floating exchange rate 
system. The average nominal exchange rate against the United States dollar (S/. per US$) fell from 3.13 in 2007 to 2.64 in 2012. The real exchan ge rate, measured in terms of the basket 
of currencies of Peru's 20 main trading partners, appreciated in 2007 and 2012, partly reflecting 
the terms-of-trade improvement that occurred in those years; but it then depreciated in the 
period 2008-2011, basically owing to uncertainty surrounding the local electoral process and the problematic global financial situation. 
1.2  Economic trends 
1.2.1  Macroeconomic indicators 1.7.  The Peruvian economy maintained relatively  high growth rates throughout the period under 
review, except for 2009 (Table 1.2). In 2012, GDP is  estimated to have grown by 6.3%, driven to 
a large extent by investment expenditure, both pu blic and private, despite a deterioration in the 
international economic environment. The positive trend of the Peruvian economy is also explained 
by the buoyancy of the non-primary sectors (c onstruction, trade and services), the robust 
performance of goods and services exports, and an increase in domestic consumption. 
The International Monetary Fund (IMF) is forecasting real GDP growth of 5.4% in 2013.
7 
                                               
7 IMF (2013b). WT/TPR/S/289/Rev.1 • Peru 
 
- 13 - 
 
  Table 1.2 Economic indicators, 2007-2012 
 2007  2008  2009  2010 2011  2012  
GDP at current prices (S/. billion) 335.5 371.1 382.3 434.7 486.5 526.0 
GDP at current prices (US$ billion) 107.2 127.4 127.0 154.1 176.8 199.3 
Real GDP (annual percentage change) 8.9 9.8 0.9 8.8 6.9 6.3 
 Private consumption 8.3 8.7 2.4 6.0 6.4 5.8 
 Public consumption 4.5 2.1 16.5 9.7 6.1 10.5 
 Gross domestic investment 25.8 25.8 -20.6 36.3 9.4 10.1 
 Exports of goods and services 6.9 8.2 -3.2 1.3 8.8 4.8 
 Imports of goods and services 21.4 20.1 -18.6 24.0 9.8 10.4 
Prices and exchange rate       
Consumer price inflation 
(End of period, percentage change) 3.93 6.65 0.25 2.08 4.74 2.65 
Average nominal exchange rate 
(S/. per US$) 3.13 2.92 3.01 2.83 2.75 2.64 
Multilateral real exchange rate (annual average, 
percentage change)a 0.7 -3.5 -2.0 -3.1 2.1 7.2 
Saving-investment (% of GDP)       
Domestic saving 24.3 22.7 20.1 22.8 23.4 23.2 
 Public saving 6.3 6.8 4.6 6.0 7.2 7.8 
 Private saving 17.9 15.9 15.5 16.8 16.2 15.4 
External saving -1.4 4.2 0.6 2.5 1.9 3.6 
Investment 22.8 26.9 20.7 25.3 25.3 26.8 
 Public sector 3.4 4.3 5.2 5.9 4.5 5.2 
 Private sector 19.5 22.6 15.5 19.3 20.8 21.6 
Public finance (% of GDP)       
Economic balance of the NFPSb 2.9 2.4 -1.3 -0.2 2.0 2.2 
 Primary balance 4.7 4.0 0.0 1.0 3.1 3.2 
Central Government 4.5 4.0 -0.2 1.1 3.1 3.0 
 Rest of NFPS 0.2 0.0 0.2 -0.1 0.1 0.2 
 Interest 1.8 1.6 1.3 1.2 1.1 1.1 
Total public debt 28.5 25.9 26.1 23.3 21.2 19.8 
 External public debt 17.9 16.3 15.6 12.9 11.2 9.9 
 Domestic public debt 10.6 9.6 10.5 10.4 10.0 9.9 
External sector        
Exports of goods and services (% of GDP) 29.1 27.3 24.0 25.5 28.7 25.4 
Imports of goods and services (% of GDP) 22.3 26.9 20.3 22.6 24.6 24.3 
Current account (% of GDP) 1.4 -4.2 -0.6 -2.5 -1.9 -3.6 
Net international reserves (US$ million) 27,689 31,196 33,135 44,150 48,816 63,991 
Remittances from abroad (US$ million) 2,131 2,444 2,409 2,534 2,697 2,788 
Remittances from abroad (% of GDP) 2.0 1.9 1.9 1.6 1.5 1.4 
a A negative figure indicates a depreciation. 
b Non-financial public sector (NFPS). Source: Central Reserve Bank of Peru (2013), Memoria Anual 2012 , Lima; and IMF database. 
1.8.  Inflation averaged 3.4% per year in th e period 2007-2012 (compared to 2% between 2000 
and 2006).8 Peru has been implementing an explicit inflation-targeting scheme since 2002, 
and has defined a set of rules and quantitative targets to be met by fiscal policy.9 Since 2007, 
a margin of tolerance has been applied in the fo rm of a "target range" of between 1% and 3%. 
The inflation rate eased from 4.74% in 2011 to 2. 65% in 2012, owing to weaker domestic demand 
growth following the postponement of investment projects and slower growth in food and fuel 
prices.10 The IMF is forecasting annual inflation of 2.8% for 2013.11 
                                               
8 Inflation measured by the consumer price index,  percentage change at the end of the period. 
9 IMF (2012). 
10 The Political Constitution of Peru and the Law on  the Organization of the BCRP define the purpose 
of the central bank as preserving monetary stability, understood as price stability. The BCRP is prohibited from WT/TPR/S/289/Rev.1 • Peru 
 
- 14 - 
 
  1.9.  The application of the explicit inflation-ta rgeting scheme, together with greater confidence 
in the nuevo sol and the development of the government bond market, have helped reduce levels of dollarization in the economy. Nonetheless, about half of all credit and just over one third of all 
deposits in the banking system are denominated in foreign currency (section 4.5.2.1), mostly 
US dollars. 
1.10.  One of the main quantitative targets of fiscal policy, formulated by the Ministry of the 
Economy and Finance (MEF), is to keep the annual NFPS fiscal deficit below 1% of GDP.
12 
Between 2009 and 2010, the need to fulfil this target was waived when a fiscal stimulus of 1.25% 
of GDP was introduced to help cope with the global economic crisis. As a result, in 2009 the NFPS posted a deficit of 1.3% of GDP (Table 1.2). The fiscal stimulus plan was then phased out gradually as economic activity recovered, and this enabled the NFPS to achieve fiscal surpluses 
in 2011 and 2012. Moreover, the buoyancy of dome stic demand and rising mineral prices had 
positive effects on revenue, while non-financial ex penditure was kept in check. This explains the 
fact that in 2012, the NFPS economic outturn record ed a surplus of 2.2% of GDP, 1% higher than 
anticipated in the budget for that year.
13 
1.11.  In April 2012, a Fiscal Commission was set up to modernize the macro-fiscal framework.14 
In late 2012, the Fiscal Stabilization Fund (FEF) stood at US$7.2 billion, representing 3.6% of GDP, 
financed out of prior fiscal surpluses. This fund gives the Government fiscal space to finance 
countercyclical policies should this be necessary.15 
1.12.  In late 2012, the country's total public debt amounted to US$40,399 million, of which 48% 
was external. In GDP terms, the total public debt declined from 28.5% in 2007 to 19.8% in 2012 
(Table 1.2). Over the last decade, Peru has under taken several operations which have improved its 
debt profile, by lengthening ma turities, refunding old debt with new under better financial 
conditions, and reducing its exposure to exchange-rate risks. As a result, the proportion of the 
gross public debt denominated in domestic currency increased from 15% to 47% between 2002 
and 2011. 
1.2.2  Balance of payments 
1.13.  Except in 2007, the current account of the balance of payments was in deficit throughout 
the review period, mainly owing to the growing ne gative balance of factor income (Table 1.3). 
In relation to GDP, the current account moved from a surplus of 1.4% in 2007 to a deficit of 3.6% of GDP in 2012, and the IMF is forecasting a deficit of 4.9% for 2013.
16 
Table 1.3 Balance of payments, 2007-2012 
(US$ million) 
 2007  2008  2009 2010 2011 2012 
I. Current account 1,521  -5,285  -723  -3,782  -3,341 -7,136  
Trade balance 8,503 2,569 5,951 6,750 9,302 4,527 
Exports f.o.b. 28,094 31,018 26,962 35,565 46,268 45,639 
Imports f.o.b. -19,591 -28,449 -21,011 -28,815 -36,967 -41,113 
Services -1,192 -2,056 -1,176 -2,345 -2,132 -2,258 
Factor income -8,299 -8,742 -8,385 -11,212 -13,710 -12,701 
Current transfers 2,508 2,943 2,887 3,026 3,200 3,296 
of which: Remittances abroad 2,131 2,444 2,409 2,534 2,697 2,788 
                                                                                                                                               
financing the public treasury and from ex tending guarantees or granting credit s to specific sectors. It is also 
prohibited from establishing multiple exchange rates. 
11 For 2013, both average inflation and end-period inflation are forecast to be 2.1%. IMF (2013b). 
12 The Law on Fiscal Responsibility and Transparency establishes these targets and created a Fiscal 
Stabilization Fund (FEF). The main fiscal targets are described in WTO (2007). 
13 IMF (2013a). 
14 The mandate of the Fiscal Commission, on which both national and foreign experts serve, 
includes formulating a global strategy for public-sec tor assets, including Peru's non-renewable resources. 
15 The FEF is financed from the fiscal surpluses,  10% of revenue generated from privatizations 
and 10% of revenue obtained fro m concessions (e.g. mining). 
16 IMF (2013b). WT/TPR/S/289/Rev.1 • Peru 
 
- 15 - 
 
   2007  2008  2009 2010 2011 2012 
II. Financial account 8,590  8,510  2,406  13,606  9,504 20,130  
Private sector 8,154 9,569 4,200 11,396 10,053 20,277 
Public sector -1,629 -1,621 291 2,468 880 1,685 
III. Balance of payments (I+II) 9,654  3,169  1,043  11,192  4,724 14,827  
Source: Central Reserve Bank of Peru (2013), Memoria Anual 2012 , Lima. 
1.14.  The trade account surplus shrank consider ably in 2008-2009, and also in 2012, owing to the 
deterioration in the terms of trade in those years as a result of the global economic crisis.17 
This caused merchandise export earnings to fall steeply in 2009, and again slightly in 2012 compared to their 2011 level. Goods imports also retreated sharply in 2009, but they have since 
recovered thanks to the buoyancy of the Peruvian economy. 
1.15.  In 2011, Peru was ranked 41
st and 40th among global merchandise exporters and importers, 
respectively, (considering European Union countries as one and excluding trade between them). 
In services trade, Peru was the 49th largest exporter and 47th largest importer.18 Traditionally, 
its services trade has generated a deficit (section 1.3.2). 
1.16.  The negative balance on the income account largely reflects an increase in 
private outflows – mainly remittances of profits to other countries and undistributed earnings by 
firms with foreign ownership. Remittances receiv ed from Peruvians living abroad are a major 
source of income on the current account and remained relatively stable throughout the review period. Nonetheless, in relative terms, they declined from 2% of GDP in 2007 to 1.4% in 2012 
(Table 1.2). 
1.17.  The financial account has been in surplus during the review period, thanks mainly to the 
large inflows of foreign direct investment (FDI) received by Peru in the last few years 
(section 1.3.3). The net capital inflow enabled Peru  to accumulate international reserves over the 
period 2007-2012, the balance of which stood at almost US$64 billion in 2012 (Table 1.2), equivalent to 32% of GDP. 
1.3  Trends in trade and investment flows 
1.3.1  Trade in goods 
1.18.  Peru has a relatively diversified merchandise export basket. Nonetheless, as one of the 
world's leading producers of raw materials, it is sensitive to changes in the respective prices. 
According to the World Bank, a 10% fall in raw ma terial prices reduces export earnings by 3.5% 
(about 0.7% of GDP).
19 Although Peru exports a variety of minerals, over the last few years, it has 
been relying increasingly on copper and gold, which in 2012 accounted for about 80% of its 
mineral exports (mostly sent to the Chinese market) and 10% of GDP. 
1.19.  The share of agricultural products in to tal merchandise exports grew from 14.9% to 16.8% 
in the period 2007-2012, while minerals accounted  for between 26% and 32% of the total during 
the period, excluding gold and gold products, whose share rose from 14.9% in 2007 to 21.2% 
in 2012. Meanwhile, the export share of manufac tures, mainly textiles and chemical products, 
fluctuated between 11% and 13% in the period 2007-2012 (Table A1.1 and Chart 1.1). There was 
a sharp increase in fuel exports, particularly liquefied natural gas as from 2010. 
1.20.  On the import side, manufactured products accounted for almost three quarters of all goods 
sourced from abroad in 2012 (65.4% in 2007), the vast majority corresponding to transport machinery and equipment and chemical products (T able A1.2 and Chart 1.1). The share of fuels 
in total goods imports declined from 18.8% in  2007 to 14.4% in 2012. Agricultural products 
accounted for about 11%-12% of total imports during the period, led by wheat, maize, oilseed cake and soya oil. 
                                               
17 In 2012, the terms of trade declined by 4.9%, owing to a fall in the prices of certain export metals 
and a rise in the prices of imported food products. Central Reserve Bank of Peru (2013). 
18 Online information from the WTO. Viewed at: http://stat.wto.org/CountryProfiles/PE_e.htm. 
19 Online information from the World Bank. Viewed at: http://datos.bancomundial.org/pais/peru. WT/TPR/S/289/Rev.1 • Peru 
 
- 16 - 
 
  1.21.  In terms of destinations, China, the Euro pean Union and the United States between them 
absorbed 48.3% of Peru's total goods exports in 2012, very close to the 48.7% recorded in 2007 (Table A1.3 and Chart 1.2). Nonetheless, China increased its share significantly during the period (from 10.8% to 17.1%), while that of the United States declined from 19.9% to 14.2%, despite 
the trade promotion agreement that entered into force between the United States and Peru in 
2009. Other countries that have negotiated regional trade agreements with Peru, such as Canada, the Republic of Korea and Switzerland/Liechtenstein,  have gained increasing proportions of its total 
exports. The Andean Community's share in Peru's total merchandise exports grew from 4.4% 
in 2007 to 5.2% in 2012. 
1.22.  The United States, China and the European Union are also the main sources of Peru's goods 
imports, jointly supplying 49.2% of the total in 2012, compared to 41.2% in 2007 (Table A1.4 
and Chart 1.2). Imports from the United States  increased from 17.6% of the total in 2007 
to 18.8% in 2012, while China's share grew from 12.1% in 2007 to 18.5% in 2012. In contrast, the Andean Community's share in Peru's total imports shrank from 12.9% to 9.7% in the period. 
1.3.2  Trade in services 
1.23.  The deficit in Peru's services trade, which in 2007-2012 averaged around US$2 billion per 
year, largely reflects a growing negative balance in freight transport services, which widened 
from US$1,198 million in 2007 to US$1,630 millio n in 2012, owing to the vigorous growth 
of merchandise trade during the period. Insurance serv ices were also in deficit, but travel services 
generated a surplus, which grew from US$755 mi llion to US$1,168 million in the period 2007-2012 
(Table 1.4). 
Table 1.4 Trade in services, 2007-2012 
(US$ million) 
 2007  2008  2009  2010 2011 2012  
Transport -1,198  -1,741  -979  -1,599 -1,521 -1,630  
Credit 646 818 758 854 997 1,223 
Debit -1,844 -2,560 -1,737 -2,453 -2,517 -2,852 
Travel 755 870 926 740 1,008 1,168  
Credit 1,723 1,991 2,014 2,008 2,360 2,657 
Debit -968 -1,121 -1,088 -1,268 -1,352 -1,490 
Communications -21  -8 -69 -78 -47 -74  
Credit 88 125 91 102 132 147 
Debit -110 -133 -161 -180 -179 -221 
Insurance and reinsurance -23 -152  -176  -325 -359 -366  
Credit 289 227 271 166 230 361 
Debit -311 -379 -447 -491 -588 -728 
Other -705  -1,024  -878  -1,083 -1,214 -1,355  
Credit 406 487 501 562 646 742 
Debit -1,111 -1,511 -1,379 -1,645 -1,861 -2,097 
Total services -1,192  -2,056  -1,176  -2,345 -2,132 -2,258  
Credit 3,152 3,649 3,636 3,693 4,364 5,130 
Debit -4,344 -5,704 -4,812 -6,038 -6,497 -7,388 
Source: Central Reserve Bank of Peru (2013), Memoria Anual 2012 , Lima. 
 WT/TPR/S/289/Rev.1 • Peru 
 
- 17 - 
 
  Chart 1.1 Merchandise trade by product, 2007 and 2012 
2007 2012
(a)    Exports
Total: US$28,085 m illion
(b)    Imports
Manufactures
Total: US$20,368 m illion Total: US$42,157 m illonTotal: US$45,604 m illionFuels
8.6%Other 
agricultural 
products
1.2%Other 
manufactures
4.7%
Metallic 
minerals
32.2%Other
0.1%
Agricultural 
products
Chemical products
14.6%Other mining
0.9%Fuels
18.8%Food 
products
10.4%
Agricultural 
products
ManufacturesMiningAgricultural 
products
MiningFood products
13.7%
Manufactures ManufacturesChemical 
products
2.3%
Other mining
17.4%Articles of 
apparel and 
clothing 
accessories
5.0%Food products
15.9%
Fuels
11.5%Other 
agricultural 
products
0.9%
Other 
mining
8.6%Chemical products
2.9%Articles of apparel 
and clothing 
accessories
3.5%
Metallic 
minerals
30.1%Other 
manufactures
5.1%Other
0.3%
Agricultural 
products
Other agricultural 
products
1.6%
Iron and steel 
5.4%Machinery
30.4%Other 
manufactures
12.6%Food 
products
10.0% Other 
agricultural 
products
1.4%
Fuels
14.4%
Other 
mining
1.0%
Chemical products
13.9%Iron and steel
4.7%
Machinery
36.9%Other 
manufactures
15.3%Mining Mining
Textiles
2.3%Other
0.1%
Textiles
2.4%Other
3.0%Non-monetary 
gold
14.9%Non-monetary 
gold
21.2%
 
Source: UNSD COMTRADE database and information provided by the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
- 18 - 
 
  Chart 1.2 Merchandise trade by trading partner, 2007 and 2012 
2007 2012
(a)    Exports
Total: US$28,085 m illon
(b)    Im ports
Total: US$20,368 millon Total: US$42,157 m illonTotal: US$45,604 m illonChile
6.0%Other
1.3%
United States
19.9% Japan
5,7%
Other 
America
11.1%Other 
Europe
8.7%
Argentina
5.5%China
10.8%Other 
Asia
6.5%
AmericaUnited States
14.2%
Other America
11.5%China
17.1%
Other Europe
11.4%Other 
Asia
6.5%Other
1.8%
Asia
AmericaAsia
United States
17.6%
Other America
18.5%EU (27)
11.5%Other Europe
0.7%Japan
3.9%
China
12.1%Other 
Asia
7.8%Other
5.8%
United States
18.8%
Brazil
6.1%
Other America
15.4% EU (27)
11.9%Other Europe
1.0%Ecuador
4.8%China
18.5%Other Asia
10.2%Other
5.1%
AmericaAmerica
Europe
EuropeAsia
AsiaCanada
6.6%
Japan
3.6%Chile
4.4%
Brazil
9.2%EuropeEurope
Brazil
3.3%Canada
7.5%
EU (27)
18.0%Brazil
3.1%Japan
7.8%
EU (27)
17.0%
Ecuador
7.4%Argentina
4.6%
 
Source: UNSD COMTRADE database and information provided by the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
- 19 - 
 
  1.3.3  Foreign direct investment 
1.24.  According to BCRP figures, the annual flow  of FDI in Peru averaged around US$7.9 billion 
in 2007-2012 (way above the average of US$2 bi llion recorded in the period 2000-2006). 
FDI stock in Peru amounted to US$63,448 million in 2012 (Table 1.5). This growth was largely the 
result of the positive performance of the Peruvian economy in the period. Nonetheless, 
efforts to attract larger FDI flows have been hinder ed by a number of factors, particularly the lack 
of adequate infrastructure (section 1.4). 
1.25.  The balance of foreign investment in the form of capital contributions (including share 
reductions and transfers) stood at US$22,674 million in late 2012.20 The main source countries 
for these capital contributions were Spain (20.5%), the United Kingdom (19.8%) and the United States (14%). The contributions were mainly concentrated in the following sectors: 
mining (23.9%), finance (18.5%), communications (17.3%), industry (13.7%) and 
energy (13.5%). 
Table 1.5 Foreign direct investment, 2007-2012 
(US$ million) 
 2007  2008  2009  2010 2011 2012  
FDI inflows 5,491 6,924 6,431 8,455 8,233 12,240 
Inward FDI stock 26,808 32,340 34,521 42,976 51,208 63,448 
Inward FDI stock 
(% of GDP) 25.0 25.4 27.1 27.9 29.0 31.8 
FDI outflows 66 736 411 266 113 57.3 
Outward FDI stock 2,284 1,694 2,282 3,319 3,099 3,986 
Outward FDI stock 
(% of GDP) 2.1 1.3 1.8 2.1 1.7 2.0 
Source: UNCTAD (2012), World Investment Report , Geneva; and Central Reserve Bank of Peru (2013), 
Memoria Anual 2012 , Lima. 
1.4  Outlook 
1.26.  The authorities expect Peru to remain the region's most dynamic and stable economy, with 
real GDP growth of between 6% and 6.5% during  the period 2012-2015 – provided there is no 
global crisis similar to that of 2008, and assumi ng private investment grows by around 11% per 
year and a number of projects come on-stream, including mining projects which would raise copper production by about 90% between now and 2016. On that basis, private investment would 
amount to 25% of GDP in 2015, and total investment (private and public) would represent 30% 
of GDP.
21 
1.27.  Despite a major improvement in Peru's infrastructure in recent years, the amount of capital 
invested in infrastructure and access to basic services remain insufficient, particularly 
outside Lima. This is reflected in the competitiveness index published by the World Economic Forum, which ranks Peru 111
th out of 144 countries in terms of overall infrastructure quality 
(74thin airport infrastructure, 97th in terms of the quality of its roads, 111th in relation to port 
infrastructure, 74th in electricity supply, 87th in fixed telephone lines, and 58th in mobile telephone 
subscriptions).22 Consequently, one of the main challenges for Peru to continue growing 
at relatively high rates in the long term is to reduce its "infrastructure gap" (difference between 
infrastructure supply and demand), which is calculated at around 30% of GDP.23 
                                               
20 This information was provided by firms/invest ors to PROINVERSIÓN, Peru's private investment 
promotion agency, and, unlike those disseminated by other sources, the figures do not include flows related 
to loans, or the value of merchand ise or other assets that are not assigned to the capital of the local 
enterprise. Online information from PROINVERSIÓN, updated at December 2012. Viewed at: http://proinversion.gob.pe. 
21 MEF (2012). 
22 Online information from the World Economic Forum. Viewed at: 
http://reports.weforum.org/global-competitiveness-2012-2013. 
23 Peruvian Economics Institute (2009). WT/TPR/S/289/Rev.1 • Peru 
 
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  1.28.  Among the components of the calculated infr astructure deficit, the transport sector requires 
the largest investment, accounting for 37% of the total shortfall (US$13,961 million)24, as a result 
of delays in project execution and insufficient public investment in the past. The electricity and natural gas sector accounts for 31.9% of th e overall investment gap, owing to growing 
demand for electric energy in the wake of economic expansion. The health sector 
represents 16.7% of the total shortfall, and the telecommunications sector accounts for 14.4%.
25 
1.29.  To close the infrastructure gap, Peru is adopting measures to promote public-private 
partnerships (section 2.4), encourage technological innovation, improve human capital, diversify 
production and enhance the quality of public investment expenditure. These measures are included in Peru's various development plans (section 2.2). 
 
 
                                               
24 A gap of US$7,735 million is estimated for the road system, US$3.6 billion for ports, 
and US$2,986 million for other modes of transport. Ministry of Transport and Communications (2012). 
25 Peruvian Economics Institute (2009). WT/TPR/S/289/Rev.1 • Peru 
 
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  2  TRADE AND INVESTMENT REGIME 
2.1  General framework 2.1.  The general institutional framework for the formulation of Peru's trade and investment policy 
has remained virtually unchanged since the country's previous trade policy review in 2007.
1 
The structure of the Peruvian State is laid out in  its 1993 Political Constitution, which entered into 
force on 1 January 1994. The Government of Peru is unitary, representative and decentralized. In accordance with the principle of the separation of  powers, it is divided into executive, legislative 
and judicial branches. 
2.2.  There are three levels of Government: national, regional and local. The national Government 
is composed of the Office of the President of the Republic, the Ministries and public entities making 
up the executive branch.
2 Each region has a regional government made up of a regional council, 
a regional presidency and a regional coordinating  council. Local governments comprise provincial 
and district municipalities. 
2.3.  The Head of State is the President of th e Republic elected by direct suffrage along with 
two Vice-Presidents for a term of five years. Consecutive re-election is not permitted. 
The last presidential election took place in J une 2011. Under the Constitution, the President is 
authorized to direct overall government policy, direct foreign policy and conclude and ratify 
treaties, enact extraordinary economic and financial measures by issuing emergency decrees 
having the force of law when such measures are in the national interest and Congress is 
accordingly informed, and to regulate tariffs, amon gst other things. The President of the Republic 
is empowered to appoint and dismiss the Pres ident of the Council of Ministers, whose 
responsibilities include coordinating the functions of the other ministers and signing off on the 
regulations provided for in the Constitution. 
2.4.  Legislative functions are incumben t on a single-chamber Congress composed 
of 130 representatives who are elected by direct  proportional vote on a regional basis. 
All congressional seats come up for re-election ever y five years. Congress drafts and passes laws 
and oversees the actions of the Executive. The Co nstitution takes precedence over all other laws, 
decrees, resolutions and directives (Table 2.1)3, which are published in the Official Journal 
El Peruano .4 
Table 2.1 Regulations 
Legal instrument Definition 
Law Instrument adopted by the Congress in the exercise of its legislative powers 
and in accordance with the procedure stipulated in the Constitution. 
Legislative decree Instrument with the st atus and force of law emanating from express 
authorization and power delegated by the Congress; it is limited to the specific 
matter at hand and must be issued wi thin the time-frame specified by the 
authoritative law concerned. 
Decree law  Instrument with the status of law adopted de facto  by the governments. 
Emergency decree  Instrument with the stat us and force of law laying down extraordinary 
economic and financial measures, except in tax matters; it is issued when 
required by the national interest and is based on the urgency of regulating 
extraordinary and unpredictable situations. 
Supreme decree Instrument of a general nature that governs inst ruments with the status of law 
or regulates sectoral or multisectoral activity at the national level. 
Supreme resolution Specific decision signed by the President of the Republic and endorsed 
by one or more Ministers within whose remit it falls, and published in the cases 
stipulated by law when it is regulatory in nature. 
Legislative resolution Acts of Parliament which ge nerally govern cases in a specific and concrete 
manner. They have the force of law pursuant to Article 102:1 of the Constitution. 
                                               
1 Peru's constitutional and ge neral legal framework is described in detail in WTO (2007). 
2 Public entities are attached to a Ministry or to th e Presidency of the Council of Ministers, and include, 
inter alia , government agencies and spec ial programmes and projects. 
3 In accordance with principle of primacy la id down in Article 51 of the Constitution. 
4 The electronic address is: http://www.elperuano.com.pe. WT/TPR/S/289/Rev.1 • Peru 
 
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  Legal instrument Definition 
Ministerial resolution Instrument adopted by a Minister of State concerning, inter alia , the domestic 
and sectoral policies within his purview. 
Vice-Ministerial resolution Legal instrument adopted by a Vice-Minister within his sphere of competence.  
Directorial resolution Instrument adopted by the Directors of Departments of the Public 
Administration in the exer cise of their functions. 
Directive Its purpose is to specify policies and determine procedures or actions that are 
to be executed in fulfilment of legal provisions in force. 
Source: Information provided by  the Peruvian authorities. 
2.5.  International treaties that entail administrative changes and affect national sovereignty, 
financial obligations or taxes, including WTO Ag reements and some regional accords, must be 
approved by Congress and ratified by the President before they can enter into force.5 
The Congress is not empowered to alter a treaty that has been submitted to the Executive for 
approval and signed by it. International treaties  that are approved and in force become part 
of Peruvian legislation and have the status of law. The provisions of international treaties can therefore be invoked before national courts.  
2.6.  The Judiciary is headed by the Supreme Court of the Republic. Superior courts form the 
second level of the hierarchy, with jurisd iction over an entire Judicial District.
6 The third level 
is made up of courts of first instance, whose jurisdictions roughly coincide with the provinces.  
Finally, there are district magistrates' courts. Arbitral and military tribunals also exercise judicial 
functions in exceptional cases. 
2.2  Trade policy objective and formulation 2.7.  The main objective of Peru's trade policy is to achieve sustained growth of trade with an 
emphasis on exports from non-traditional sectors, consolidate Peru's image as an exporter 
of competitive goods and services, and boost tr ade and investment flows between Peru and the 
rest of the world. Trade policy is formulated at the national level and takes account of international 
commitments. The President of the Republic is empowered to regulate foreign trade.
7 
2.8.  The Ministry of Foreign Trade and Tourism (MINCETUR) is responsible for setting, directing, 
implementing, coordinating and supervising foreign trade and tourism policy.8 MINCETUR conducts 
international trade negotiations in coordination with the Ministry of Foreign Affairs, 
the Ministry of the Economy and Finance (MEF) and other branches of the Government in the areas 
falling within their purview. The MEF direct s and controls tariff and customs policy, 
coordinating tariff policy with other Ministries.9  
2.9.  Since its last review in 2007, Peru has continued to liberalize its trade regime unilaterally, 
including tariff reduction (section 3.1.4), and ha s implemented an ambitious agenda of regional 
trade agreement negotiations, leading to the entry into force of 14 new agreements. Peru 
currently has 17 regional trade agreements in force with 52 countries (section 2.3.2). At the same 
time Peru has remained active at the multilateral level, convinced that the multilateral trading system is an important means of securing greater trading advantages in multilateral negotiations 
and of defending its interests through the disput e settlement mechanism. Peru also considers the 
regulatory implications of its multilateral and regional negotiations to be complementary. 
2.10.  Under Peru's various development plans such as the National Strategic Development 
Plan 2021
10, the Multi-Annual Strategic Sector Plan (PESEM) for Foreign Trade and 
                                               
5 Article 56 of the Constitution. 
6 Judicial Districts are territorial subdivisions in Peru  that serve the purposes of organizing the Judiciary. 
There are 29 Judicial Districts, one for each of the 24 Departments, the Constitutional Province of Callao, plus Cañete, Huara, North Lima and Santa. 
7 Articles 57 and 118 of the Constitution. 
8 Law No. 27779 of 10 July 2002. 
9 Legislative Decree No. 183 of 15 June 1981, Ministerial Resolution No. 005-2006-EF/15 
of 12 January 2006 and Ministerial Resolution No. 223-2011-EF/43 of 30 March 2011. 
10 Being the bicentenary of Peru's independence, the year 2021 was chosen as the time horizon for the 
first National Strategic Development Plan, approved by Supreme Decree No. 054-2011-PCM of 18 March 2011. WT/TPR/S/289/Rev.1 • Peru 
 
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  Tourism 2012-201611 and the National Strategic Export Plan (PENX) 2003-201312, trade policy 
aims to further promote exports, in particular non-traditional exports, increase value added, improve product quality, enhance the competitiven ess of the economy and derive greater benefit 
from international markets.
13 It is planned, by 2016, to double total exports (to US$86 billion), 
triple non-traditional exports (US$23 billion), double the number of exporting companies 
to 15,600 (versus 7,840 in 2011), reach a level of 95% for non-traditional exports linked to trade agreements, and to have 25 regional trade agreements in force.
14 
2.11.  To formulate foreign trade policy, the Government holds regular consultations with the 
private sector through professional associations and trade unions. The private sector participates 
on an ad hoc  basis in coordination meetings on trade issues with the relevant ministries 
and agencies. 
2.12.  Table 2.2 sets out Peru's main trade and investment legislation. 
Table 2.2 Main trade and investment legislation, 2013 
Area Legislation 
Customs General Customs Law (Legislative Decree No. 1053 and amendments thereto) 
and its implementing regulations (Supreme Decree No. 010-2009-EF and amendments thereto) 
Anti-dumping and 
countervailing 
measures Supreme Decree governing rules laid down in the Agreement on Implementation 
of Article VI of the GATT 1994, the Agreement on Subsidies and Countervailing 
Measures and the Agreement on Agriculture (Supreme Decree No. 006-2003-PCM 
and amendments thereto); Regulations on Dumping and Subsidies for non-WTO 
Members (Supreme Decree No. 133-1991-EF and amendments thereto);  
Safeguards Supreme Decree adopting regulato ry provisions of the WTO Agreements on 
Safeguards and Textiles and Clothing (Supreme Decree No. 023-2003-MINCETUR); Supreme Decree regulating transition al safeguards under the rules and 
commitments accepted by WTO Members (Supreme Decree No. 023-2003-MINCETUR); Supreme Decree adopting procedures for implementing bilateral safeguards and safeguards relating to textiles pursuant to the integration 
agreements and international trade agreem ents signed by Peru (Supreme Decree 
No. 008-2009-MINCETUR) 
Technical regulations 
and standards Law on National Standardization and Accreditation Systems (Legislative Decree 
No. 1030) and its implementing regulations (Supreme Decree No. 081-2008-PCM); 
Andean system of standardization, accreditation, testing, certification, technical 
regulations and metrology (Andean Community Decision No. 419); 
Guidelines for the preparation, adoption and application of technical regulations 
(Andean Community Decision No. 562); Measures to ensure the freedom 
of foreign/domestic trade (Legislative Decrees Nos. 668 and 682); Measures 
establishing the mandatory endorsement by the MEF of measures aimed 
at restricting the free flow of goods imports and exports (Decree-Law No. 25629 
and Decree-Law No. 25909); Remit of the MEF regarding formalities or requirements 
affecting free domestic marketing or exportation or importation, and the National 
Public Investment System (Supreme Decree No. 149-2005-EF)  
Sanitary and phytosanitary measures General Law on Agrarian Health (Legislative Decree No. 1059) and its implementing 
regulations (Supreme Decree No. 018-2008-AG); General Health Law (Law No. 26842); Regulation on sanitary surveillance and control of food and beverages (Supreme Decree No. 007-98 SA); Law on the National Fisheries 
Health Service (Law No. 28559); Law on Food Safety (Legislative Decree No. 1062) and its implementing regulations (Supreme Decree No. 034-2008-AG)  
                                               
11 The PESEMs are documents that lay out each sector's  strategic objectives (for example, foreign trade 
and tourism, agriculture, manufacturing, transpor t and communications). The MINCETUR PESEM 2012-2016 
was approved by means of Ministerial Resolution No. 199-2012-MINCETUR/DM of 2 July 2012. 
12 The PENX is the basis for other plans pertaining to the development of expo rt supply: export plans 
for each of the 24 regions; operational plans by sector /product (agriculture and agribusiness, handicrafts, 
timber-yielding forestry resources, jewellery and goldsmith's articles, fishing and aquaculture, services 
and textiles). The PENX also includes  operational plans by target markets designed to take better advantage 
of external demand, as well as th e Trade Facilitation Master Plan and the Export Culture Master Plan 
(training and human capital development). 
13 Peru's leading traditional exports are coffee, copper and gold. 
14 MINCETUR (2012). WT/TPR/S/289/Rev.1 • Peru 
 
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  Area Legislation 
Government 
procurement Government Procurement Law (Legislative Decree No. 1017), as amended by Law 
No. 29873 and its implementing regulations (Supreme Decree No. 184-2008-EF) 
Investment Framework Law on Pu blic-Private Partnerships (Legislative Decree No. 1012); Law 
on Harmonization with the WTO TRIMs Agreement (Legislative Decree No. 1035); Law on Foreign Investment (Legislative  Decree No. 662); Framework Law for the 
Growth of Private Investment (Legislati ve Decree No. 757); Law on the Promotion 
of Private Investment in Public Infra structure Works and Public Services 
(Supreme Decree No. 059-96-PCM) 
Source: Information provided by  the Peruvian authorities. 
2.3  International trade relations 
2.3.1  WTO 2.13.  Peru became a founding Member of the WTO on 1 January 1995.
15 The WTO Agreements 
form part of Peru's national legislation and may be invoked in national courts. MINCETUR and the 
Ministry of Foreign Affairs are Peru's accredited representatives to the WTO. Both Ministries perform that function in a coordinated manner. Peru has made use of the transition periods available to developing countries under the various WTO Agreements. Peru provides, 
as a minimum, most-favoured-nation treatment to both Members and non-Members of the WTO. 
2.14.  The country took part in the negotiations on telecommunications and financial services 
subsequent to the Uruguay Round. Its commitments in the area of telecommunications are set out 
in the Fourth Protocol to the General Agreement on Trade in Services; its commitments in regard 
to financial services are contained in the Fifth Protocol. Peru is neither a party to the WTO Plurilateral Agreement on Government Procurement nor is it an observer in the 
WTO Committee on Government Procurement. Peru has been a participant in the WTO Information 
Technology Agreement since 18 February 2009.
16 
2.15.  Peru has made several notifications in fu lfilment of its WTO commi tments (Table A2.1). 
It does, however, have some notifications pending for submission to the Committee on Agriculture 
in particular (section 4.1.3). 
2.16.  Peru was not involved as a complainant in any case before the WTO Dispute Settlement 
Body during the review period but was involved once as a defendant.17 P e r u  a l s o  t o o k  p a r t  
in six cases as a third party.18 Since the creation of the WTO, Peru has been three times 
a complainant, five times a defendant and 14 times a third party.19 
2.17.  Peru participates actively in the work of the WTO and in the Doha Round negotiations. 
It recognizes the importance of concluding thes e negotiations and improving the WTO disciplines 
so as to ensure the effectiveness of the multilat eral system. In the framework of the negotiations, 
Peru has submitted several proposals individually or jointly with other WTO Members, in fields 
such as special and differential treatment; ag riculture; fisheries subsidies; market access; 
biodiversity, traditional knowledge and genetic resources; trade facilitation; environmental goods 
and services20; and services. 
                                               
15 The Marrakesh Agreement Establishing the World Trade Organization was ratified 
on 18 December 1994 by means of Legislative Resolution No. 26407. 
16 WTO document WT/Let/640 of 23 March 2009. 
17 On 12 April 2013 Guatemala requested consultation s with Peru regarding the additional duty 
on imports of certain agricultural products such as rice, sugar, maize, milk and some dairy products (DS457). 
18 The six cases in which Peru part icipated as a third party are: China - Measures related 
to the Exportation of Rare Ea rths, Tungsten and Molybdenum  (the United States as complainant, DS431; 
the European Union, DS432; and Japan, DS433); and Australia - Certain Measures  concerning Trademarks 
and other Plain Packaging Requirements Appl icable to Tobacco Products and Packaging  (Ukraine, DS434; 
Honduras, DS435; and the Dominican Republic, DS441). 
19 WTO online information. Viewed at: http: //www.wto.org/english/thew to_e/countries_e/peru 
_e.htm. 
20 WTO documents JOB(07)/161 of 30 October 2007 and JOB(09)/177 of 27 November 2009. WT/TPR/S/289/Rev.1 • Peru 
 
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  2.3.2  Regional agreements 
2.18.  At the time of the preceding trade policy review in 2007, there were regional trade 
agreements in force between Peru and the other Andean Community member countries, the MERCOSUR countries, as well as other member countries of the Latin American Integration 
Association (LAIA).
21 Since then it has signed 14 new trade agreements, which are already 
in force, with Canada, Chile, China, Costa Ri ca, the European Free Trade Association (EFTA), 
the European Union, Japan, the Republic of Korea, Mexico, Panama, Singapore, Thailand, 
the United States and the Bolivarian Republic of Venezuela (Table A2.2). 
2.19.  Peru has also has signed a trade agreement (not yet in force) with Guatemala, and others 
are being negotiated with Chile, Colombia, El-Salvador, Honduras, Mexico and Thailand22, 
in the context of the Pacific Alliance23 and the Trans-Pacific Partnership (TPP).24 
2.20.  Peru has 17 regional trade agreements in force covering 52 countries altogether. 
In 2012, 73.9% of Peru's total exports went to trading partners with which regional agreements were in force and 76.2% of its total imports came from those partners. 
2.21.  Given their importance to Peru, the Andean Community and the Trade Promotion 
Agreement with the United States are described below. 
2.3.2.1  Andean Community 
2.22.  Peru is a signatory to the Andean Subregional Integration Agreement of 1969, known as the 
Cartagena Agreement, which laid the groundwork for the Andean Community. This integration process or Andean Pact was notified to the GATT in 1990 under the Enabling Clause
25, 
and has evolved into what is now the Andean Community (CAN). The Andean Council of Ministers 
of Foreign Affairs and the Andean Community Commission are the bodies of the Andean 
Integration System charged with formulating a community strategy for deepening regional integration.
26 The CAN has a free trade area for all goods produced in the region and has 
developed common rules governing trade relations amongst member countries and harmonizing 
domestic legislation in areas such as customs, tariff nomenclature, services, agricultural health, technical regulations, trade defence measures and intellectual property. 
2.23.  Although a Common External Tariff (CET) is one of the objectives of the Andean integration 
process, this instrument is under evaluation given the current tariff policy of the member countries. The CET is not mandatory at this time and its application has been suspended until 31 December 2014.
27 Peru therefore applies its national tariff (section 3.1.4). 
2.24.  The Andean free trade area was fully constituted on 1 January 2006 when, pursuant 
to Decision No. 414, Peru successfully completed the gradual tariff reduction process it had been pursuing since 1997. Peru also applies the commitments under Andean regulations pertaining 
to the liberalization of trade in services. The establishment of a common market allowing for the 
free movement of services, capital and people is still pending. 
                                               
21 LAIA was established by the Montevideo Treaty in 1980 and was notified to the GATT on 1 July 1982 
(GATT document L/5342). 
22 The agreement with Thailand would replace the Earl y Harvest Protocol in fo rce with that country. 
23 The Pacific Alliance was announced on 28 April 2011 in  the Lima Declaration. By means of Legislative 
Resolution No. 30053 published on 28 June 2013, the Co ngress of Peru approved the Framework Agreement 
signed on 6 June 2012. The aim is to move progress ively toward the free movement of goods, services, 
capital and people. Australia, Canada , China, Costa Rica, the Dominican Republic, Ecuador, El Salvador, 
France, Guatemala, Honduras, Japan, New Zealand, Panama, Paraguay, Portugal, Spain, Turkey, the United States and Uruguay are observers. 
24 The TPP, which comprises countries of the Asia -Pacific region and aims to liberalize trade 
and investment among its members, covers a broad range of products and topics. The basis of this agreement 
is the Trans-Pacific Strategic Economic Partnership (P 4) between Brunei, Chile, New Zealand and Singapore, 
signed on 3 June 2005 and in effect since 28 May 2006. Aust ralia, Peru, the United States and Viet Nam joined 
the negotiations in 2008, as did Malaysia in 2010, and Canada and Mexico in 2012. Japan is expected to become part of the TPP in 2013. 
25 GATT document L/6737 of 12 October 1990. 
26 Article 51 of the Cartagena Agreement. 
27 Andean Community Decision No. 695. WT/TPR/S/289/Rev.1 • Peru 
 
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  2.25.  The CAN member countries may negotiate trade agreements with third parties 
on a community, individual or joint basis.28 The purpose of the trade negotiations authorized 
through this Decision "can be the establishment of free trade areas and may refer to topics other than the liberalization in the trade of goods".
29 Members that negotiate trade agreements 
individually with third countries must abide by gu idelines requiring them to: "preserve the Andean 
legal system in relations between member countries of the Andean Community; take into account the commercial sensitivities of other Andean partners in trade liberalization offers; and maintain 
an adequate exchange of information and cons ultations in the course of the negotiations, 
within a framework of transparency and solidarity".
30 
2.26.  In 2010, the Andean Council of Foreign Ministers, meeting in a session extended to include 
the CAN Commission, approved the guiding principles  for giving direction to the Andean integration 
process and the Andean Strategic Agenda containing 12 focal points of consensus: Andean citizen 
participation through integration; common external policy; trade integration and economic complementarity, promotion of sustainable production, trade and consumption; 
physical integration and border development; so cial development; the environment; tourism; 
security; culture; cooperation; energy integration and natural resources; and the institutional development of the CAN.
31 
2.27.  In 2011, the Andean leaders laid down the main policy guidelines for the CAN, 
giving priority to three topics: (i) strengthenin g and vitalizing the Andean integration process, 
promoting the "re-engineering" of the Andean Integration System; (ii) fomenting the process 
of convergence and dialogue between the va rious regional and subregional integration 
mechanisms, in particular MERCOSUR, the Union of South American Nations (UNASUR)32 
and LAIA; and (iii) promoting regional energy integration.  
2.3.2.2  Trade Promotion Agreement between the United States and Peru 
2.28.  The Trade Promotion Agreement between  the United States and Peru was signed 
on 12 April 2006 and took effect on 1 February 2009. It is Peru's first regional agreement covering trade in both goods and services and including a chapter on investment
33 and which has served 
as a reference for subsequent agreements ne gotiated by Peru. It comprises 23 chapters 
and annexes. The measures pertaining to trade in goods figure mainly in Chapters Two to Eight. Trade in services includes modes of supply 1 (cross-border trade), 2 (consumption abroad) and 4 (presence of natural persons) of the WTO General Agreement on Trade in Services (GATS); 
its liberalization is governed mainly by the provisions of Chapter Eleven regarding cross-border 
trade in services. The provisions on investment, including all measures relating to GATS mode 3 (commercial presence), are governed by Chapter Ten on investment, by Articles 11.4, 11.7 
and 11.8 and the chapters on financial services an d telecommunications. There are also provisions 
on competition policy, labour and environment policy, e-commerce and dispute settlement. 
2.29.  After negotiating the Trade Promotion Agreement with the United States and in order 
to derive greater benefit from all its regional agreements, Peru made major changes to its trade 
policies and practices by enacting new laws on customs (section 3.2.1), government procurement (section 3.3.5) and intellectual property rights (section 3.3.6). To that same end, Peru also 
amended its domestic legislation on competitiveness, investment and employment promotion, 
institution building and administrative simplification. Peru applies all these changes on an MFN 
basis. 
                                               
28 Article 1 of Andean Community Decision No. 598. 
29 Article 6 of Andean Community Decision No. 598. 
30 Article 2 of Andean Community Decision No. 598. 
31 Online information from the Ministry of Foreign Trade and Tourism. Viewed at: 
http://www.mincetur.gob.pe/default.asp?pag=COMER CIO/cuerpo1.asp&lat=COMERCIO/lateraL.asp?pag 
=comercio&num=3. 
32 An international organization created in 2008 to prom ote regional integration in the fields of energy, 
education, health, the environment, infrastructure, security and democracy. Its members are Argentina, the Plurinational State of Bolivia, Brazil, Colombia, Chile, Ecuador, Guyana, Paraguay, Peru, Suriname, 
Uruguay and the Bolivarian Republic of Venezuela. Pa nama and Mexico are observers. Online information 
from UNASUR. Viewed at: http://www.unasur.org. 
33 WTO document WT/REG260/1 of 12 July 2010. WT/TPR/S/289/Rev.1 • Peru 
 
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  2.30.  The tariff elimination commitments are spread over a 17-year period (2009-2025); 
most other commitments in respect of both goods and services have applied fully since 1 February 2009.
34 On that date, 53.3% of Peru's tariff and 36.4% of that 
of the United States were already duty free on an MFN basis. With the entry into force 
of the Agreement, Peru liberalized a further 32.7% of its lines in favour of US products, 
whilst an additional 61.5% of the United States tariff was duty free for Peruvian products.35 
Under the Trade Promotion Agreement between  the United States and Peru, both the ad valorem 
and specific components were eliminated for products subject to Peru's price band system 
(section 3.1.5). 
2.31.  The United States is Peru's biggest trading partner when it comes to imports and ranks 
third in terms of the destination of Peruvian ex ports (section 1.3.1). In 2012, 18.8% of Peru's 
goods imports came from the United States (a percentage very similar to the 18.9% recorded in 
2008, before the effective date of the Agreement), whilst 14.2% of Peru's goods exports went to 
the United States (18.7% in 2008). 
2.3.2.3  Other agreements 
2.32.  Since 1998, Peru has been a participant in the Asia-Pacific Economic Cooperation Forum 
(APEC), in which the commitment was made to realize the Bogor Goals concerning the 
liberalization and facilitation of trade and investment by 2020.36 Peru's participation in APEC also 
enables it to coordinate joint positions on WTO issues and launch bilateral negotiations with other members. Peru hosted the main APEC meetings in 2008 and will again do so in 2016. 
2.33.  Peru qualifies for preferences granted und er the Generalized System of Preferences (GSP) 
by, inter alia , Australia, Belarus, the European Union,  New Zealand, the Russian Federation and 
Turkey.
37 In 2012, 27.4% of all certificates of origin issued were for Peruvian exports meant to 
benefit from GSP preferences. 
2.34.  Peru takes part in the Global System of Trade Preferences among Developing Countries 
(GSTP) – comprising 43 countries – under which it grants tariff preferences for a group of 22 products. 
2.4  Foreign investment regime 
2.35.  The MEF is still responsible for formulating foreign investment policy. The Private 
Investment Promotion Agency (PROINVERSIÓN) implements national policy for the promotion 
of private investment in accordance with the general policy guidelines established by the MEF. 
PROINVERSIÓN also oversees investors' compliance with the investment commitments they have 
assumed, in cases where this task has not been assigned to any other regulatory agency. 
2.36.  The legal framework relating specifically to foreign investment includes Article 63 of the 
Constitution, the Foreign Investment Law (Legislative Decree No. 662), the Framework Law for the 
Growth of Private Investment (Legislative Decr ee No. 757), the Law on the Promotion of Private 
Investment in Public Infrastructure Works and Public Services (Supreme Decree No. 059-96-PCM), 
and the Framework Law on Public-Private Partnerships for the Generation of Productive 
Employment (Legislative Decree No. 1012, which also  establishes regulations on the streamlining 
of private investment promotion processes), which was enacted largely as a result of the Trade Promotion Agreement between the United States and Peru. This Decree is designed 
to promote private-sector participation in the development of public infrastructure and the 
provision of public services, to which end it lays down, inter alia , the requirements for the 
                                               
34 Article 2.3 of the Agreement provid es for progressive tariff eliminatio n based on the different "stages" 
contained in Annex 2.3, which indicates the base rates to  be used for reductions an d staging categories for the 
elimination of tariffs. For both parties the base rate s are those contained in their respective MFN lists 
on 1 January 2004. Tariff elimination began on 1 February 2009 and subsequent reductions will take place on 1 January each year. Article 2.3 furt her provides for the possibility of fast-track tariff elimination. Peru has 
reserved the right to grant identica l or more favourable tariff treatmen t to a good pursuant to the legal 
instruments of the Andean Community. 
35 WTO document WT/REG260/1 of 12 July 2010. 
36 In 1994, in Bogor (Indonesia) the APEC economies agreed to liberalize and facilitate trade 
and investment by 2010 for industrialized econ omies and by 2020 for developing economies. 
37 UNCTAD (2011). Online information viewed at: h ttp://unctad.org/en/docs/itcdtsbmisc62rev5_en.pdf. WT/TPR/S/289/Rev.1 • Peru 
 
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  classification of projects into two types (self-su staining and co-financed) and includes arbitration 
as a dispute settlement mechanism.38 
2.37.  Legislative Decree No. 1035 was enacted on 25 June 2008 approving the 
Law on Harmonization with the WTO Agreement on  Trade-Related Investment Measures (TRIMs), 
which eliminates: (i) the condition that primary products produced in the Amazon region 
(products of domestic origin) be used in order to obtain tax benefits (Law No. 27037 on the Promotion of Investment in the Amazon  Region); (ii) the condition that products 
of domestic origin or sourced domestically be used in order to obtain tax and labour-related 
benefits (Law No. 27360 adopting the rules for the promotion of the agricultural sector); (iii) the ban on imports of powdered milk, fatty anhydride and other dairy inputs used for reconstitution and recombination in the manuf acture of dairy products (Legislative Decree 
No. 653, Law on the Promotion of Investment in the Agricultural Sector); and (iv) the awarding, 
by the State, of additional bonus points in bids and tenders for concessions/privatizations to companies that commit (in the tender and the contract) to purchasing domestic goods and 
undertaking works in the country (Law No. 28242 supplementing Law No. 27143 on Promotion of 
the Development of National Production). 
2.38.  Domestic and foreign investment are generally subject to the same conditions. The Foreign 
Investment Law automatically authorizes foreign investments in the country, and once 
undertaken, they must be registered with PROINVERSIÓN. Foreign investors are guaranteed the right to transfer all their capital, dividends or profits derived from their investments out of the 
country in freely convertible currencies, once the statutory taxes have been paid.  
2.39.  Foreign investment is restricted in the following cases:  
i. Foreigners may not acquire or possess, under any title whatsoever, mines, land, 
forests, bodies of water, fuels or ener gy sources located within 50 km of the 
country's borders, either directly or indirectly, as individuals or as corporations, 
on pain of surrendering their ownership rights to the State
39; 
ii. foreign ownership of air transport services is limited to a 49% interest at the start-up 
of operations by national airlines; the share of foreign ownership may be increased 
to as much as 70% after the enterprise has been in operation for six months (section 4.5.4); and  
iii. commercial cabotage is reserved exclusively to Peruvian flagged vessels owned 
by a national ship owner or national shipping enterprise or leased under a financial 
lease or a bareboat charter with an obligatory purchase option. The owner of a national vessel or shipping company must be an individual of Peruvian 
nationality or a corporate body in which at least 51% of the equity is held 
by Peruvian citizens (section 4.5.5). 
2.40.  Private investment, whether national or foreign, is not permitted in protected nature 
reserves, although the regulated development an d use of such areas may be permitted subject 
to the applicable laws. 
2.41.  The Constitution also provides that the law may, for reasons of national security only, 
place temporary restrictions and specific prohibitions on the acquisition, possession, utilization 
and transfer of certain goods. The authorities have noted that this provision has not been applied, 
given the existence of the ordinary expropriation regime set forth in Article 70 of the Constitution.  The Constitution also provides that publicly owned assets
40 are inalienable and imprescriptible 
                                               
38 Legislative Decree No. 1012 is supplemented by its implementing regulations (Supreme Decree 
No. 146-2008-EF) and, as appropriate, by emergency decrees that prioritize certain infrastructure projects. 
39 Exceptions may be made for reas ons of public necessity as expressly declared by supreme decree 
approved by the Coun cil of Ministers. 
40 Supreme Decree No. 154-2001-EF (General Administrative Regulations on State-owned Assets) 
defines publicly owned assets  as: (i) assets intended fo r public use consisting of public works for general 
benefit or use whose preservation and maintenance are the responsibility of a State en tity; (ii) public-service 
assets intended for direct fulfilment of public aims, which are the responsibility of State entities, and assets 
intended for direct provision of public services; and (iii) assets reserved for use in national defence. WT/TPR/S/289/Rev.1 • Peru 
 
- 29 - 
 
  but may be assigned on concession to private parties in accordance with the applicable legal 
provisions for their economic use. Recourse may be had to the courts in order to contest the property value set by the State in the course of expropriation proceedings. 
2.42.  Peru provides guarantees of legal stability to Peruvian and foreign investors and to the 
companies in which they invest, by means of agreements in the form of "contracts with force 
of law" (contratos-ley ), which are subject to the provisions of the Civil Code.
41 The agreements are 
valid for ten years. In the case of concessions, th ey cover the term of the concession. Disputes are 
settled by arbitral tribunals.42 Between 2007 and 2012 Peru signed 140 legal stability agreements 
with Peruvian and foreign investors worth US$7 billion.43 
2.43.  In addition to the legal stability agreements, holders of mining concessions may enter into 
tax stability agreements with the State under the provisions of the General Law on Mining 
(section 4.3). 
2.44.  Since 2007 there has been a change in the negotiation of investment protection 
mechanisms with the inclusion of a chapter on in vestment in the preferential trade agreements 
now in force with Canada, Chile, China, Costa Rica, the Republic of Korea, Mexico, Panama, 
Singapore and the United States, in that which is about to take effect with Guatemala and in those being negotiated with El Salvador and Honduras, and in the context of the Pacific Alliance 
and the TPP. 
2.45.  Under the Andean Community's Common Investment Regime approved by Andean 
Community Decision No. 291, subregional invest ments are guaranteed national treatment, 
while the treatment of other foreign investments is determined by the national laws of each 
member country. In addition, by its Decisi on No. 578, the Andean Community approved 
the Regime for the Avoidance of Double Taxation and Prevention of Tax Evasion among the Andean countries. 
2.46.  Peru has concluded reciprocal investment promotion and protection agreements 
with 33 countries, 31 of which are in effect.
44 Peru is a member of the International Centre 
for Settlement of Investment Disputes (ICSID) and the Multilateral Investment Guarantee 
Agency (MIGA). 
2.47.  Peru has three agreements in force for the avoidance of double taxation and the prevention 
of tax evasion with Brazil, Canada and Chile. In the context of the Andean Community, Peru has an agreement of this kind in force with the Plurinational State of Bolivia, Colombia and Ecuador.
45 
Peru has also signed agreements for the avoidanc e of double taxation and the prevention of tax 
evasion with the Republic of Korea, Mexico, Portugal  and Switzerland, though they are not in force. 
The country has also started negotiations on the subject with France, Italy, Qatar, Singapore, 
Spain, Sweden, the United Kingdom and Thailand. 
 
 
                                               
41 Online information from PROINVERSIÓN. Viewed at: 
http://www.proinversion.gob.pe/0/0/modulos/JER/ PlantillaSectorHijo.aspx?ARE=0&PFL=0&JER=2906. 
42 Idem.  
43 These agreements aim to provide the investor with stability with respect to: the regulations relating 
to non-discriminatory treatment; the income tax regime (dividends); the right to use the most favourable exchange rate available on the market; and the system of free availability of foreign exchange and the right 
of free remittance of profits, divi dends, and royalties. At the same time, the agreements aim to provide 
stability for the recipient enterprise with respect to the recruitment, expo rt promotion and income tax regimes. 
44 Argentina, Australia, Belgium, the Plurinational State of Bolivia, Canada, Chile, China, Colombia, 
Cuba, the Czech Republic, Denmark, Ecuador, El Salvad or, Finland, France, Italy,  the Republic of Korea, 
Luxembourg, Malaysia, the Netherlands, Norway, Paragu ay, Portugal, Romania, Spain, Singapore, Sweden, 
Switzerland, Thailand, the United Kingdom and the Bolivarian Republic of Venezuela. The agreements 
with Colombia and Singapore are not yet in forc e. Online information from UNCTAD. Viewed at: 
http://www.unctad.org/Sections /dite_pcbb/docs/bits_peru.pdf. 
45 Andean Community Decision No. 578. WT/TPR/S/289/Rev.1 • Peru 
 
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  3  TRADE POLICIES AND PRACTICES BY MEASURE 
3.1  Measures affecting imports 3.1.1  Customs procedures 3.1.  In Peru, customs procedures are mainly governed by the General Customs Law, 
the Regulations implementing the General Customs Law and amending regulations.
1 
The National Customs and Tax Administration Supervisory Authority (SUNAT), through the Customs Administration, remains the authority responsible for applying customs legislation 
and collecting customs duties and other import taxes. 
3.2.  The customs regime to be followed is specified at the time the goods are declared. 
In addition to the import for consumption regime, Peru has other customs regimes or procedures such as import into zones for special customs treatment; reimport in the same state; temporary 
admission for re-export in the same state; customs transit; transhipment; reloading; and special 
or exceptional customs regimes.
2 
3.3.  Importers generally have to be registered with SUNAT and be in possession of a valid single 
taxpayers' registration number (RUC) before th ey can import. Goods may be imported without 
an RUC, simply using a national identity document (DNI) in the case of Peruvians or a foreign identity card, passport or safe-conduct in the case  of foreigners, provided that the goods are only 
imported occasionally (a maximum of three times a year) and are valued at less 
than US$1,000 f.o.b.; or are single imports whose f.o.b. value is US$1,000 to US$3,000; or the importers are Peruvian or foreign diplomats or international civil servants.
3 
3.4.  SUNAT may grant certification as an Author ized Economic Operator (OEA) to foreign trade 
operators with a proper accounting and logistics system that enables operations to be verified, 
provided that their financial solvency and capita l adequacy have been duly established and that 
their level of security is satisfactory. OEAs are eligible for streamlined customs procedures 
and controls, for example, they are not required  to provide the same amount of information 
in their customs declarations.4 
3.5.  In general terms, the following docume nts have to be submitted to the SUNAT for 
processing: the bill of lading, the air waybill or freight bill, depending on the mode of transport; 
the invoice or equivalent document and/or the sworn declaration of value according to the mode of import; proof of payment; a power of attorney for streamlined clearance if this is to be done 
by a third person acting on behalf of the importer, owner or consignee; together with the other 
documents required. The latter applies mainly to restricted goods, which may only be imported 
if they have the requisite authorization from th e competent bodies corresponding to the nature 
of the goods.
5 An import declaration has to be subm itted together with the aforementioned 
documents, and this may be a simplified import declaration (DSI) or customs declaration 
of goods (DAM), as applicable. The DSI is used when importing samples of no commercial value, gifts whose value does not exceed US$1,000 or goods not exceeding US$2,000. 
                                               
1 Legislative Decree No. 1053 of 27 June 2008 approving the General Customs Law, 
Supreme Decree No. 010-2009-EF of 16 January 2009, Legislative Decree No. 1122 of 17 July 2012 and Legislative Decree No. 1109 of 20 June 2012. 
2 General Customs Law of 27 June 2008. 
3 Resolution No. 210-2004/SUNAT of the Supervisory Authority. Information viewed online at: 
http://www.sunat.gob.pe/legislacion/procedim/despa cho/importacion/importac /procGeneral/index.html . 
4 Articles 44 and 45 of the General Customs Law. 
5 Such authorizations may be issued, inter alia, by the National Agrarian Heal th Service and the National 
Institute of Natural Resources (Ministry of Agriculture ); the Directorate of Chemical Inputs and Controlled 
Products and the Vice-Ministry of Fisheries (Ministry of Production); the Director ate-General of Medicines, 
Input Materials and Drugs (Ministry of Health), the Di rectorate-General for Contro l of Security Services, 
Control of Firearms, Ammu nition and Explosives for Civilian Use (Minis try of the Interior), the National Cultural 
Institute (INC), the National Library or the General Archives of the Nation (Ministry of Education). WT/TPR/S/289/Rev.1 • Peru 
 
- 31 - 
 
  3.6.  The services of a customs broker are re quired for clearance of goods under the import 
for consumption regime, and this may be the owner, the consignee, an official broker 
or a customs agent.6 
3.7.  Before arrival of the mode of transport, the carrier or its representative in Peru must forward 
the cargo manifest and other documents to SUNAT electronically, within the time-limit laid down 
in the regulations implementing the General Customs Law. Customs declarations may be corrected either ex officio or at the request of a party.
7 
3.8.  Imports under the regimes regulating import for consumption, temporary admission 
for inward processing, temporary admission for re -export in the same state, customs warehouse, 
customs transit or transhipment, are eligible for advance customs clearance. For this purpose, the goods must arrive within the prescribed time-limit. Advance clearance offers several 
advantages that help to facilitate trade, including the following: release of the goods 
within 48 hours (with a prior guarantee); examination of the documents prior to arrival; inspection by scanner, which may replace the physical inspecti on of the goods; and the opportunity for prior 
acceptance and electronic release of the goods (without the need to submit a hard copy 
of the DAM). 
3.9.  There are also other forms of clearance, for example, urgent clearance depending on the type 
of goods and exceptional clearance, used for goods that require special treatment, or goods 
imported in cases of disaster or emergency. The import requirements applicable to any of the various forms of clearance are virtually the same: a duly endorsed or guaranteed DAM (prior guarantee) is always required, together with an authenticated photocopy or the original copy 
of the invoice or equivalent document (includi ng those generated or printed electronically), 
an authenticated photocopy of the transport documents and an authenticated photocopy of the control document, except for those documents processed through the single window for 
foreign trade (VUCE). 
3.10.  Once the cargo manifest has been forwarded and the customs taxes and other charges 
applicable have been paid, the DAM is assigned to a channel using risk management techniques. 
There is no examination of documents or physic al inspection for goods assigned to the green 
channel. Nevertheless, the customs broker has to keep the original documents so that SUNAT may 
examine them if necessary. For goods assigned to the amber channel, the documents are examined, and for those assigned to the red channel there is a physical inspection.
8 The customs 
broker and the importer are informed of the control channel electronically. The percentage 
of goods which entered Peru through the maritime  customs at Callao and were processed through 
the green channel increased from 67% in 2007 to 82% in 2012.9 
3.11.  The VUCE was created in 2006 as an integrated system to facilitate trade, allow parties 
engaged in foreign trade and international transport to submit electronically the documents required by the competent control authorities for the transit, entry or exit of goods in Peru.
10 
The VUCE started operating in July 2010 and now has three components: restricted goods, 
port services, and origin. The restricted goods component allows users to carry out formalities electronically in order to obtain permits, certificates, licences and other authorizations required by the competent authorities for the entry, transit or  exit of goods. All formalities required for the 
arrival, stay and clearance of ships in ports can be carried out electronically through the port 
component. The origin component allows administrative formalities and procedures related to eligibility and issue of certificates of origin to be carried out, involving producers, 
exporters and the competent authority.
11 
                                               
6 The terms "custom broker" and "customs agent" are defined in Articles 18 and 23, respectively, of the 
General Customs Law. 
7 A request to correct a declaration is dealt with acco rding to the provisions in the special procedure for 
requests for electronic  correction of declarat ions INTA-PE-00.11. 
8 Physical Inspection - Taking and Analysing Samples INTA-PE.00.03. 
9 In 2012, the port of Callao handled 75.5% of total imports. Information provided by the authorities. 
10 Supreme Decree No. 165-2006-MEF, Legislative Decree No. 1036 and 
Supreme Decree No. 09-2008-MINCETUR. 
11 Online information from the VUCE, viewed at: https://www.vuce.gob.pe/index2.html. WT/TPR/S/289/Rev.1 • Peru 
 
- 32 - 
 
  3.1.2  Customs valuation12 
3.12.  The customs valuation system is governed  by the Regulations on the valuation of goods 
in accordance with the WTO Agreement on Customs Valuation and amendments thereto13; 
decisions and resolutions of the Andean Community (CAN)14; decisions of the WTO Committee 
on Customs Valuation; and the instruments of the Technical Committee on Customs Valuation 
(Brussels). There are also special procedures fo r determining the customs value of media with 
digital content and used vehicles.15 
3.13.  In Peru, the customs value of imported goods is determined according to the valuation 
methods set out in the WTO Agreement on Customs Valuation. SUNAT remains the authority responsible for verifying and determining the customs value of goods imported into Peru.
16 
The importer must furnish the necessary documents and information to ensure that the value 
declared corresponds to the transaction value; if  this is not the case, SUNAT employs the other 
valuation methods determined in the Agreemen t in order to verify the declared value. 
3.14.  For the DSI, if the importer so requests, the customs value can be determined according 
to the list of reference values published on SUNAT's website.17 
3.15.  The importer may declare a provisional value when submitting the DAM if the price 
negotiated has not been finally determined.18 In such cases, the Customs allows delivery of the 
goods subject to payment of the import taxes co rresponding to the provisional value declared 
and the deposit of security. The importer has 12 months, which may be extended by six months, to regularize the declared value and pay any taxes due. 
3.16.  If the Customs Administration has any reason  to doubt the declared value or the exactitude 
of the documents submitted as proof of the declar ation, it may request the importer to provide 
additional explanations or to substantiate th e declaration with documents or other evidence 
proving that the value declared represents the tota l amount actually paid or payable for the goods 
imported, adjusted as applicable. Once the additional information has been received, if the 
Customs Administration still entertains reasonable doubts regarding the exactitude of the declared value, it may employ the other methods of valuation successively and in order. If the 
Customs Administration needs more time to reso lve the reasonable doubts, bearing in mind the 
risk indicators, it may attribute a provisional value to the goods. Once the value has been determined, the Customs Administration informs the importer of the reasons for doubting the accuracy or exactitude of the information or documents submitted and its rejection of use 
of the transaction value as the valuation method. If the importer disagrees with the procedures, 
he may begin proceedings against SUNAT. 
3.1.3  Rules of origin 
3.17.  During the review period, Peru informed  the WTO of changes in the preferential rules 
of origin applied under the preferential agreemen ts signed within the LAIA framework and the new 
preferential agreements it had signed from 2007 onwards.
19 For most of the preferential 
agreements, the basic criterion used to determine origin continues to be a change in tariff 
classification or, alternatively, the regional co ntent value (Table 3.1). The agreements signed 
by Peru also lay down specific requirements of origin. 
                                               
12 Based on Supreme Decree No. 186-99-EF of 29 December 1999 and amendments thereto. 
13 Supreme Decree No. 186-99-EF of 29 December 1999. 
14 Resolution No. 846 - Community Regulations implementing Decision No. 571 and 
Resolution No. 961 - Procedure for special cases of customs valuation. 
15 Resolution No. 004-2009-EF of 13 January 2009, Resolution No. 036-2009/SUNAT/A 
of 28 January 2009, Resolution No. 167-2009/SUNAT/A of 27 March 2009, Resolution No. 341-2009/SUNAT/A of 2 February 2010 and Resolution No. 203-2012/SUNAT/A of 3 September 2012. 
16 Law No. 27973 of 27 May 2003. 
17 Resolution of the National Deputy Customs Supervisory Authority No. 520-2012/SUNAT/A. 
18 Article 7 of CAN Resolution No. 1239 of 1 July 2009. 
19 WTO documents: G/RO/N/49 of 2 March 2007, G/RO/N/72 of 29 August 2011 and G/RO/N/77 
of 12 March 2012. WT/TPR/S/289/Rev.1 • Peru 
 
- 33 - 
 
  3.18.  Non-preferential rules of origin are used in Peru to determine the origin of imported 
products subject to provisional or definitive anti-dumping and/or countervailing duties. In 2011, Peru established a new regulatory framework for non-preferential rules of origin.
20 This mainly 
concerns the minimum information to be provided by the importer in order to determine the origin 
of goods.21 Up to 2011, a certificate of origin was requ ired, but since then an importer has only 
had to give the Customs Authority a sworn signed declaration of origin.22 
3.19.  The Ministry of Foreign Trade and Touris m (MINCETUR) determines the non-preferential 
criteria of origin, which have to be approved by ministerial resolution (Table 3.1)23 and specifies 
the special format required for certificates of origin.24 
Table 3.1 Non-preferential  criteria of origin 
Product Legislation Validity 
Zippers and parts thereof  Ministerial Resolution 
No. 339-2005-MINCETUR/DM; 
Ministerial Resolution 
No. 338-2005-MINCETUR/DM Entry into force: 
2 November 2005 
Entry into force: 
2 November 2005 
Fabrics Ministerial Resolution 
No. 076-2006-MINCETUR/DM Entry into force: 
28 February 2006 
Footwear Ministerial Resolution 
No. 074-2007-MINCETUR/DM Entry into force: 
29 March 2007 
Ceramic dishes Ministerial Resolution 
No. 339-2005-MINCETUR/DM; 
Ministerial Resolution 
No. 338-2005-MINCETUR/DM Entry into force: 
2 November 2005 
Until: 13 October 2009a 
Iron hinges Ministerial Resolution 
No. 075-2006-MINCETUR/DM Entry into force: 
28 February 2006 
Until: 12 May 2009b  
a Resolution No. 165-2009-CFD - INDECOPI. b Resolution No. 072-2009-CFD - INDECOPI. 
Source: WTO documents G/RO/N/49 of 2 March 2007, G/RO/N/50 of 10 May 2007 and G/RO/N/77 
of 12 March 2012. Information provided by the authorities. 
3.1.4  Tariffs 
3.20.  Peru's customs tariff is based on the Common Tariff Nomenclature of the Member Countries 
of the Andean Community (NANDINA), approved by Decision No. 766 of the Commission of the 
CAN, which incorporates the various amendments to the Harmonized Commodity Description and 
Coding System (HS).25 Peru usually only applies ad valorem tariffs, although 47 tariff lines in the 
2013 tariff schedule (0.6% of the tariff universe) are subject to a price band system involving 
two components: one ad valorem and the other specific. The price band system applies to imports 
of certain agricultural products, namely, rice, sugar, maize and dairy produce. 
3.21.  Ad valorem import tariffs are calculated according to the c.i.f. value of the goods, 
whereas tariffs under the price band system are determined according to an ad valorem 
component and another, specific component, which may be a reduction or an increase in the MFN 
ad valorem rate. The specific component is calculated according to the international price 
compared to the "band" composed of "floor" and "ceiling" prices fixed on the basis of historical 
                                               
20 Supreme Decree No. 005-2011-MINCETUR. 
21 Article 3 of Supreme Decree No. 005-2011-MINCETUR repealed 
Ministerial Resolutions No. 093-2007-MINCETUR/DM and No. 058-2008-MINCETUR/DM, which concerned the information required for certificates of origin. 
22 Supreme Decree No. 005-2011-MINCETUR, Article 3. 
23 Ibid, Article 9. 
24 Ministerial Resolution No. 198-2003-MINCETUR/DM established a single format for certificates 
of origin applicable to all products subject to provisional or definitive anti-dumping or countervailing duties. 
25 The tariff currently in force incorporates th e Fifth Recommendation for Amendment of the 
Harmonized System. WT/TPR/S/289/Rev.1 • Peru 
 
- 34 - 
 
  international prices in the reference markets.26 When the price on the international reference 
market is below the "floor", a tariff surcharge is imposed and when it rises above the "ceiling", a reduction on the MFN ad valorem tariff is applied. If the reference price lies within the 
"band", the corresponding MFN ad valorem tariff applies, with no surcharges or reductions 
(section 4.1.2). 
3.22.  In 2013, Peru's tariff contained 7,554 tariff lines at the ten-digit level of the 2012 HS. 
There has been an increase in the number of ta riff lines since the previous trade policy review 
in 2007 (7,370 lines) following the transposition of the nomenclature. During the period under 
review, Peru continued to lower its tariffs unilaterally, with the average applied MFN tariff declining from 8% to 3.2%, one of the lowest rates on the continent (Table 3.2). 
Table 3.2 MFN tariff structure, 2007 and 2013  
(%) 
 2007 2013a 2013b 
Total number of lines 7,370 7,554 7,554 
Non-ad valorem  tariffs (% of all tariff lines) 0.6 0.6 0.6 
Non-ad valorem  tariffs without any ad valorem  equivalents (% of all tariff lines) 6 0.6 0.0 
Tariff quotas (% of all tariff lines) 0.0 0.0 0.0 
Duty-free tariff lines (% of a ll tariff lines) 43.6 55.9 55.3 
Average of lines exceeding zero (%) 14.1 7.2 7.2 
Simple average (%) 8.0 3.2 3.2 
Agricultural products 12.9 3.9 4.3 
Non-agricultural products (including petroleum) 7.2 3.1 3.1 
Raw materials 9.6 2.9 2.9 
Semi-processed products 7.1 3.0 3.1 
Finished products 8.2 3.3 3.4 
National tariff peaks (% of all tariff lines)c 0.0 10.5 10.8 
International tariff peaks (% of all tariff lines)d 15.1 0.0 0.1 
Overall standard deviation of applied rates 7.5 3.8 3.9 
Bound tariff lines (% of all tariff lines) 100.0 100.0 100.0 
a For the 47 lines subject to the price band, only the ad valorem  component of the band has been 
taken into account. 
b For the 47 lines subject to the price band, both the ad valorem  component and the specific duty 
obtained by applying the price band  have been taken into account. 
c National tariff peaks are duties that are higher  than three times the simple average of all the 
rates applied. 
d International tariff peaks are duties that exceed 15%. 
Source: WTO Secretariat estimates based on data provided by the authorities. 
3.23.  In 2013, Peru's tariff schedule comprised three rates: 0%, 6% and 11%, excluding tariffs 
that might apply as a result of the price band. In 2007, the tariff also comprised three rates, 
but these were 0%, 12% and 20%. One of the most important changes in Peru's tariff structure 
has been the decrease in the maximum rate applied, from 20% to 11%, and the 6 percentage points reduction in the 12% rate applied in 2007, which is now 6%. Likewise, the percentage 
of lines with a zero rate increased from 43.6% to  55.9% over the period under review (Chart 3.1). 
The highest rate of 11% applies first and foremost to products such as textiles and clothing. If the tariffs resulting from application of the price band are taken into account, however, Peru's tariff 
has rates of over 20% on sugar and some dairy produce, and up to 55.7% for some milk products 
(Chart 3.1). According to the authorities, no tariff surcharges resulting from the price band system were applied during most of the period 2007-2012. 
                                               
26 Annex IV to Supreme Decree No. 115-2001-EF of 21 June 2001. WT/TPR/S/289/Rev.1 • Peru 
 
- 35 - 
 
  Chart 3.1 Breakdown of MFN tariffs, 2007 and 2013 
05001,0001,5002,0002,5003,0003,5004,0004,500
0 6 11 12 20Number of linesa
(43.6%)(55.9%)
(33.6%)
(10.5%)(41.3%)
(15.1%)2007
2013b
%
 
a Total number of lines in 2007 and 2013: 7,370 and 7,554, respectively. 
Source: WTO Secretariat estimates based on data provided by the authorities. 
3.24.  The protection given to agricultural products (WTO definition), which was 12.9% in 2007, 
fell sharply to 3.9% in 2013. Protection for non-agricultural products (3.1%) is still lower than for agricultural products, although the gap has narrowed following the tariff reduction which abolished 
the 20% rate that applied principally to agricultural products such as meat, dairy products, 
fruit and vegetables, cereals and food preparations in 2007. Taking into account the tariff resulting from application of the ad valorem equivalent of the specific price band duty when calculating 
the average tariff would increase the protection given to agricultural products from 3.9% to 4.3% 
(Table 3.2).
27 
3.25.  In 2013, Peru's applied tariffs rose in line with the level of processing of the goods, whereas 
in 2007 raw materials received more protection than semi-processed or finished products 
(Table 3.2). A similar trend exists as regards tariff protection for capital goods (0%), intermediate goods (3.2%) and consumer goods, which enjoy a slightly higher level of protection (5.6%) (Table 3.3). Peru has had a policy of tariff reduction for capital and intermediate goods since 2007, 
in line with its economic policy, as it considers trade to be a cornerstone for development 
and growth. Accordingly, the purpose of the tariff reduction is to make the country more competitive, not only by increasing and diversifying the exportable offer (particularly in the mining 
sector), but also by facilitating trade, inter alia by upgrading the infrastructure, for which capital 
goods are necessary (section 4). 
                                               
27 The ad valorem  equivalents of the specific component in the price band were calculated by the 
Secretariat on the basis of the unit price according to the volume and value of imports from January 
to May 2013. For products that were not imported during this period, the "reference price" was used instead as a substitute value. WT/TPR/S/289/Rev.1 • Peru 
 
- 36 - 
 
  Table 3.3 Tariff structure by type of goods, 2007 and 2012 
(%) 
Tariff 
(%) Consumer Intermediate Capital Total 
2007 
(HS07) 2012 
(HS12) 2007 
(HS07) 2012 
(HS12) 2007 
(HS07) 2012 
(HS12) 2007 
(HS07) 2012 
(HS12) 
0 4.2 23.5 45.7 53.8 91.1 100.0 43.6 55.9 
6 n.a. 55.4 n.a. 36.7 n.a. n.a. n.a. 33.6 
11 n.a. 21.2 n.a. 9.5 n.a. n.a. n.a. 10.5 
12 57.5 n.a. 44.9 n.a. 8.9 n.a. 41.3 n.a. 
20 38.2 n.a. 9.4 n.a. 0.1 n.a. 15.1 n.a. 
Average 14.6 5.6 7.3 3.2 1.1 0.0 8.0 3.2 
n.a. Not applicable. 
Source: Information provided by the authorities. 
3.1.4.1  Bindings 
3.26.  Peru has bound all its tariffs at three levels: 0%, 30% and 68%. The lines bound at 68% 
concern agricultural products: dairy produce; cereals such as wheat, maize and rice; sugar; and pasta. Some of these, for example, dairy prod uce, maize, rice and sugar, are also subject to 
the price band. When comparing the bindings made  by Peru in the Uruguay Round and the applied 
MFN tariff in 2013, without taking into account the tariffs resulting from application of the price 
band, it can be seen that the MFN tariffs are below the bindings. If the MFN tariff turns out to be higher than the bound rate because of application of the price band, the bound rate applies.
28 
3.1.4.2   Tariff quotas 
3.27.  Peru does not apply tariff quotas to MFN imports. It has negotiated preferential tariff quotas 
under agreements with Canada, Costa Rica, the European Free Trade Association (EFTA) (only 
Switzerland), the European Union, Mexico, Panama and the United States. A rate of 0% applies to 
in-quota imports under the preferential tariff qu otas and the MFN or preferential rate, depending 
on the agreement, to out-of-quota imports. For tariff quotas applicable to products subject to the price band, both the ad valorem and the specific components have been liberalized. Little and in 
most cases no use was made of quotas in 2012 (Table A3.2). 
3.1.4.3  Preferential tariffs 3.28.  Peru grants preferential treatment to im ports from countries with which it has signed 
agreements within the LAIA framework (Chapter 2 and Table A2.2). In the CAN, Peru gives 
preferential treatment to imports from the Plurin ational State of Bolivia, Colombia and Ecuador. 
Peru has signed 14 new trade agreements since 2007 and those with the following have already 
come into force: Canada; Chile; China; Co sta Rica; EFTA; the European Union; Japan; 
the Republic of Korea; Mexico; Panama; Singapore; Thailand (Early Harvest Protocol); the United States; and the Bolivarian Republic of Venezuela.
29 The lowest average preferential 
tariffs apply under the agreements with Canada an d the United States, followed by the preferences 
given to EFTA member countries. In most cases, the average preferential tariff applicable 
to agricultural products is higher than that for non-agricultural products (Table 3.4). 
                                               
28 Supreme Decree No. 153-2002-EF of 1 July 2002. 
29 This report does not take into accoun t the Partial Scope Trade Agreement with 
the Bolivarian Republic of Venezuela because it came into force on 1 August 2013 after the deadline for finalizing this report. WT/TPR/S/289/Rev.1 • Peru 
 
- 37 - 
 
  Table 3.4 Analysis of Peru 's preferential tariff, 2013a 
 WTO categories 
 
Pref. lines 
negotiated  
Pref. lines 
applied 
 Total Agricultural 
products Non-agricultural 
products 
(excluding 
petroleum) Average 
(%) 
Duty-free 
lines (%) 
Average 
(%) 
Duty-free 
lines (%) 
Average 
(%) 
Duty-free 
lines (%) (% of total tariff lines) 
MFN n.a. n.a. 3.2 55.9 3.9 38.4 3.1 58.4 
Canada 100.0 97.5 0.4 93.3 0.4 93.9 0.4 93.2 
Chile 99.7 99.7 0.1 97.0 0.1 95.7 0.0 97.2 
China 92.1 87.8 2.0 65.6 1.0 76.8 2.1 63.5 
Korea, Rep. of 99.9 81.5 1.9 70.9 1.1 77.3 2.1 69.7 
Costa Rica 98.7 82.9 1.0 84.3 1.3 80.4 1.0 84.9 
United States 100.0 94.5 0.4 93.3 0.5 93.2 0.4 93.2 
Japan 95.4 86.3 1.2 80.4 2.3 64.7 1.1 82.8 
Mexico 97.4 77.9 1.0 84.7 2.5 61.6 0.7 88.4 
Panama 98.1 90.7 1.4 78.5 1.8 71.5 1.4 79.5 
Singapore 99.9 87.8 2.1 71.9 2.0 68.5 2.1 72.2 
Thailand 82.7 64.1 2.5 67.1 2.8 55.8 2.4 68.7 
European 
Union 100.0 76.8 1.3 78.4 2.6 59.6 1.2 81.3 
EFTA         
Iceland 98.6 84.4 0.9 84.8 1.0 85.0 0.9 84.6 
Norway 97.9 76.5 1.0 84.0 1.3 79.6 1.0 84.6 
Switzerland 
and Liechtenstein 98.0 84.3 0.9 84.7 1.0 84.3 0.9 84.6 
MERCOSUR         
Argentina 99.9 99.9 0.5 56.9 0.9 40.4 0.5 59.2 
Brazil 99.9 99.9 0.5 57.1 0.9 40.1 0.5 59.5 
Paraguay 99.9 99.9 0.4 89.5 0.5 84.7 0.4 90.2 
Uruguay 95.8 95.8 0.8 85.7 0.5 84.0 0.8 85.9 
n.a. Not applicable. 
a For the 47 lines subject to the price band, only the ad valorem  component of the band has been 
taken into account. 
Note: For this analysis, where the preferential rate is higher than the MFN rate, the MFN rate has been 
used to calculate the averages. 
Source: WTO Secretariat estimates based on data provided by the authorities. 
 
3.1.4.4  Tariff concessions 
3.29.  The temporary admission procedure for re-export in the same state allows goods destined 
for export without being modified, except for "normal wear and tear", to be imported without 
payment of customs duty or any other taxes applicable to imports for consumption. In 2012, imports amounting to US$2 billion entered under this procedure. 
3.30.  Some foreign goods may enter Peruvian customs territory under the temporary admission 
for inward processing procedure
30, which allows suspension of payment of customs duty and any 
other taxes applicable to imports for consumption, as well as other charges, and the goods must 
                                               
30 Raw materials, inputs, intermediate goods, components and spare parts physically incorporated into 
the product exported (compens ating products) may be import ed under this procedure. WT/TPR/S/289/Rev.1 • Peru 
 
- 38 - 
 
  be exported within a specified period after having been processed in some way.31 
In 2012, imports under the temporary admission for inward processing procedure amounted to US$7,513 million. 
3.31.  Imports for certain institutions or for cert ain uses are still exempt from payment of customs 
duty (Box 3.1).
32 These include medicines and inputs for treating cancer, HIV/AIDS and diabetes, 
which remain exempt from customs duty, the general sales tax (IGV) and the selective consumption tax (ISC).
33 
Box 3.1 Imports exempt from payment of customs duty 
Samples of no commercial value; 
Prizes awarded abroad to Peruvians or foreigners resident in Pe ru officially representing  Peru at exhibitions, 
competitions or contests; 
Coffins or urns containing human bodies or remains; 
Special vehicles or prostheses for the exclusive use of disabled persons; 
Donations approved by ministerial resolution given to government sector bodies, except for companies that 
are part of the State's business activities; as we ll as to foreign bodies or institutions engaged 
in international cooperation (ENIEX), non-governmental national development organizations (ONGD-PERU), 
and private non-profit-making institut ions receiving donations for assistan ce or education (IPREDAS) listed 
in the register of the Peruvian International Cooperation Agency (APCI);  
Donations to religious institutions, and to legally es tablished foundations whose statutes provide for one 
or more of the following purposes: education, culture, science, charity, social welfare or hospital care 
(Article 19 of Peru's Political Constitution); 
Imports of goods intended solely for teaching purp oses by universities, higher education institutes 
and educational centres; 
Medicines and/or inputs used for the manufacture of therapeutic equi valents in Peru for the treatment 
of cancer, HIV/AIDS or diabetes; 
Travel and household articles belongin g to Peruvians who died outside Peru; 
Repatriation of goods that are part of the nation's cultural heritage; 
Mail for the personal and sole use of the addressee; 
Express courier mail under normal conditions cons isting of correspondence, documents, newspapers 
or periodicals, not for commercial purposes, or goods up to a value of US$200.  
Source: General Customs Law and amendments thereto. 
3.32.  From 2010 onwards, the import of some capital goods to be used for "production" activities 
in the High Andean regions has been exempt from the IGV and tariffs.34 
3.1.5  Other charges 3.33.  The additional 5% tariff which applied to 392 ten-digit tariff lines in early 2007 was removed 
the same year. 
3.34.  The customs clearance charge for processing the DAM for the import for consumption 
or customs warehouse regimes still applies to goods whose declared customs value exceeds 
three times the tax unit in effect at the time the declaration is submitted.
35 Its rate has not 
changed since 2007 and is still 2.35% of the UIT for imports for consumption or the customs 
                                               
31 Inward processing operations are those in whic h the good is transformed, processed (including 
mounting, assembly or incorporation into other goods) and/or repaired. 
32 Article 147 of the General Customs Law. 
33 Law No. 27450 of 11 May 2001 and Supreme Decree No. 004-2011-SA of 11 April 2011. 
34 The capital goods eligible for this exemption are listed in Annex 2 to 
Supreme Decree No. 051 ‐2010‐EF (regulations implementing the La w on the Promotion of Production 
Development in High  Andean Regions). 
35 Law No. 28321 of 10 August 2004. WT/TPR/S/289/Rev.1 • Peru 
 
- 39 - 
 
  warehouse.36 The customs clearance charge does not apply to procedures involving a DSI 
or special operations or uses. 
3.35.  As is the case for domestic production, imports are subject to the IGV at 16% 
(formerly 17%)37; the municipal promotion tax (IPM) of 2%; and also the ISC and/or other special 
customs taxes in certain cases. 
3.36.  The IGV applies to imports of all good s, except for some agricultural products 
and fertilizers; wool, cotton and other fibres; gold; and some used vehicles or vehicles for 
diplomatic use.38 The tax base for the IGV is the c.i.f. customs value plus the tariffs and other 
taxes on imports. Imported goods to which the IGV applies are also subject to the IPM, whose tax base is the same as that for the IGV (Table 3.5). 
3.37.  The ISC applies to the import of certain good s such as fuels, spirits, new and used vehicles, 
aerated beverages and cigarettes (Table 3.5). Si nce May 2013, some alcoholic beverages that 
were previously subject to an ad valorem rate of 20% became classified according to their degree 
of alcohol and the ISC is calculated alternatively using three methods: specific (fixed amount), 
on the value, or on the value according to the retail selling price. The ISC payable is the highest 
amount obtained by applying the three methods (Table 3.6). 
Table 3.5 Import taxes, 2007-2013 
Tax Type of tax Rate Tax base Comments 
General sales tax (IGV) Ad valorem 16% Customs value plus 
tariffs and other import taxes. The goods listed in 
Appendix I to the Single Harmonized Text on Tax are exempt from the IGV. 
Municipal promotion 
tax (IPM) Ad valorem 2% Customs value plus 
tariffs and other 
import taxes, except 
for the IGV.  This tax is imposed on 
goods subject to the IGV.  
Selective Consumption 
Tax (ISC)     
Products subject to the value system 
 Ad valorem 0% 
10% 17% 20%
a 
30% 50% Customs value plus 
the applicable import taxes.  Certain goods such as 
new or used motor vehicles; mineral waters; wine and other spirits; cigars and cheroots, tobacco and cigarettes are taxed.  
Products subject to application of a fixed amount 
 Specific Amount in 
nuevos soles: from S/.0.007 to S/.2.30 Per unit, litre, tonne, 
gallon or kilogram.  Certain goods such as 
pisco, cigarettes of dark or blond tobacco, gasoline for engines, kerosene, gasoil, and liquefied petroleum gas are taxed.  
                                               
36 Idem, and information provided by the authorities. 
37 Law No. 29666 of 20 February 2011. 
38 Appendices to the Single Harmonized Text of the Law on the IGV and the ISC. Information viewed 
online at: http://www.sunat.gob.pe/leg islacion/igv/ley/apendice.htm#acla4b. WT/TPR/S/289/Rev.1 • Peru 
 
- 40 - 
 
  Tax Type of tax Rate Tax base Comments 
Products subject to the retail selling price scheme 
 Ad valorem 27.80% 
(beer)b 
30% (cigarettes)
c The retail selling price suggested by the producer or importer multiplied by 0.840.  Only beer and cigarettes 
of dark or blond tobacco are taxed.  
a The goods subject to the 20% rate were modified in 2013 by Supreme Decree No. 092-2013-EF 
of 13 May 2013. 
b Abolished as of 13 May 2013 by Supreme Decree No. 092-2013-EF of 13 May 2013. c Abolished as of 15 January 2010 by Article 2 of Supreme Decree No. 004-2010-EF 
of 14 January 2010. 
Source: Ministry of the Economy and Finance (2011), Text of the Law on the General Sales Tax and the 
Selective Consumption Tax, Lima (Supreme De cree No. 055-99-EF); Payments and Guarantees: 
Customs Taxation. Information viewed online at: 
http://www.sunat.gob.pe/orientacionaduanera/pa gosgarantias/; and Appendices to the Single 
Harmonized Tax of the Law on the IGV and the ISC. Information viewed online at: http://www.sunat.gob.pe/legislacion/igv/ley/apendice.htm#acla4b[16/05/2013]. 
Table 3.6 Selective Consumption Tax (ISC) on certain alcoholic beverages, 2013 
Goods Methods 
Product Tariff heading Degree of 
alcohol Specific 
(fixed amount) 
(S/. per litre) On the 
value 
(%) On the value 
according to the 
retail selling 
price (%) 
Beer made from malt 2203.00.00.00 0° to 6° 1.35 n.a. 30 
Sparkling wine 2204.10.00.00 
Other wine 2204.29.90.00 
Vermouth and other 
wine in containers 
holding 2  litres 
or less  2205.10.00.00 Over 6° up 
to 20° 2.50 25 n.a. 
Other 2205.90.00.00 
Other fermented 
beverages  2206.00.00.00 
Singani 2208.20.22.00 Over 20° 3.40 25 n.a. 
Other spirits 2208.70.90.00 
Spirits obtained 
by distilling 
agaves (tequila) 2208.90.20.00 
Other  2208.90.90.00 
n.a. Not applicable. 
Source: Supreme Decree No. 092-2013-EF of 13 May 2013. 
3.38.  The tax on the sale of pounded rice (IVAP) im posed on the sale of pounded rice in Peru also 
applies to the import of pounded and other types of rice.39 The IVAP is an ad valorem tax of 4% 
imposed on the first sale of pounded rice in Peru and on the customs value, including other import duties and taxes, and on imports of pounded rice and other types of rice. 
3.1.6  Quantitative restrictions, controls and licences 
3.39.  The import of certain goods may be prohibited or require an authorization or registration for 
reasons of public health or morals, and also to protect the environment, national security or to comply with the commitments undertaken in international agreements signed by Peru. 
                                               
39 These varieties include: rice in the husk (paddy or rough) (HS 1006.20.00.00); semi-milled or wholly 
milled rice, whether or not polished or glazed (HS 1006.30.00.00); broken rice (HS 1006.40.00.00); and brans, sharps and other residu es derived from the sifting, milling or other working of cereals 
or leguminous plants, including rice "pellets" (HS 2302.20.00.00). Information viewed online at: 
http://www.guiatributaria.sunat.gob.pe/index.php?option=com_content&view=article&id=185:01-ivapimpuesto-a-la-renta-del-arroz-pilado&catid=47:ivap-impuesto-a-la-venta-del-arroz-pilado&Itemid=75. WT/TPR/S/289/Rev.1 • Peru 
 
- 41 - 
 
  3.40.  Peru has notified the WTO that no licences are required for imports and no quantitative 
restrictions are applied.40 
3.41.  There have been no changes as regards th e products prohibited since the previous review 
in 2007 (Table 3.7). Nevertheless, some of these goods may be imported, for example, 
used engines, components and spare parts for vehicles that are not on the road in Peru but are 
to be used in production.41 
Table 3.7 Prohibited imports, 2013 
Product Reason Legislationa 
Toy known as "Yoyo loco"  Health protection Supreme Decree No. 003-2004-SA 
of 19 February 2004 
Foreign alcoholic beverages whose 
description includes the word "Pisco"  Protected appellation 
of origin Law No. 26426 of 1 January 1995 
Used tyres  Public health, safety and 
environmental protection Supreme Decree No. 003-2001-SA 
of 8 February 2001 
Used clothing and footwear 
"for commercial purposes"  Public health Law No. 28514 of 25 May 2005 
Used engines, components and spare parts for road vehicles  Safety Supreme Decree No. 053-2010-MTC 
of 11 November 2010 
Ban on the import of used goods, 
machinery or equipment that uses 
radioactive sources Safety Law No. 27757 of 19 June 2002 
Supreme Decree No. 001-2004-EM 
of 25 March 2004 
a Amending legislation not included. 
Source: WTO Secretariat, on the basis of in formation provided by the authorities and 
WTO document G/MA/QR/N/PER/1 of 3 September 2013. 
3.42.  In order to boost private investment and make the dairy industry more competitive, 
since 2008 Peru has once again allowed the import of powdered milk, fatty anhydride and other 
dairy inputs used for reconstitution and recombination in the manufacture of dairy products42, 
which had previously been prohibited.43 
3.1.7  Anti-dumping, counterva iling and safeguard measures 
3.1.7.1  Anti-dumping and countervailing measures 3.43.  The principal domestic legislation on anti-dumping and countervailing measures consists 
of Supreme Decree No. 006-2003-PCM, the Regulati ons on Dumping and Subsidies, as amended 
by Supreme Decree No. 004-2009-PCM
44, which introduces amendments regarding the calculation 
of the normal value and the dumping margin in special cases; the period for imposition of anti-dumping or countervailing duties; the time-limit and the procedure for requesting the 
refund of wrongfully imposed provisional duties or the excess amounts paid; and the procedure for 
reviewing the expiry of anti-dumping duties (sunset  review). New provisions have also been added 
concerning the administrative procedure for contesting the payment of anti-dumping 
or countervailing duties and their refund.
45 Supreme Decree No. 133-91-EF, as amended 
by Supreme Decree No. 051-92-EF, still applies to non-WTO Members.46 
3.44.  The Dumping and Subsidies Commission (CFD) of the National Institute for 
the Defence of Competition and the Protection of Intellectual Property (INDECOPI) remains the 
authority responsible for applying trade defence instruments in order to avoid or, where applicable 
repair, injury that may be caused in the market by dumping or subsidization. The CFD is the administrative authority of first instance with powers to initiate and conduct dumping or subsidies 
investigations. It also acts as the investigating authority in proceedings for the imposition 
                                               
40 WTO documents G/LIC/N/3/PER/5 of 21 September 2007, G/LIC/N/3/PER/6 
of 27 August 2010, G/LIC/N/3/PER/7 of 27 Septem ber 2011 and G/LIC/N/3/PER/8 of 27 August 2012. 
41 Supreme Decree No. 017-2005-MTC of 15 July 2005. 
42 Legislative Decree No. 1035 of 25 June 2008. 
43 Fifteenth Provision in Legislative Decree No. 653, Law on the Promotion of Investment in the 
Agricultural Sector. 
44 WTO document G/ADP/N/1/PER/2/Suppl.1 and G/SCM/N/1/PER/2/Suppl.1 of 17 June 2009. 
45 Supreme Decree No. 004-2009-PCM of 19 January 2009. 
46 WTO document G/ADP/N/1/PER/2/Suppl.1 and G/SCM/N/1/PER/2/Suppl.1 of 17 June 2009. WT/TPR/S/289/Rev.1 • Peru 
 
- 42 - 
 
  of safeguard measures.47 Appeals may be lodged with the INDECOPI Tribunal against decisions 
by the CFD, and the latter's decisions can be appealed directly to Peru's Supreme Court. 
3.45.  Peruvian producers who consider that they have suffered injury or threat of injury 
as a result of the import of like goods that have allegedly been subsidized or imported at dumped 
prices may request the CFD to initiate an investigation to determine whether or not dumping 
or subsidization has occurred. Both dumping and subsidy investigations are administrative procedures through which it is determined whether the goods have been imported at a price lower 
than their normal value or have been subsidized, and if this has caused injury, or threatens 
to cause injury or retardation, in a domestic industry over a particular period (Box 3.2). 
Box 3.2 Procedure for dumping or subsidy in vestigations and review of definitive 
duties, 2013 
1. An application is submitted for initiation of an anti-dumping or subsidy investigation or the review 
of definitive duties, identifying the ap plicant, giving details of its domicile and economic activity, and attaching 
copies of documents proving the applic ant's existence and, where applicable, that of its legal representative.  
2. A questionnaire duly completed by the applican t, which must include the following information: 
A. For companies that are producers and request th e initiation of an investigation into dumping 
or subsidization: 
-Proof that the applicant is representative of the dome stic industry or has the support of domestic producers 
that are not applicants. 
A complete description of the dumped or subsidized product and the like produc t produced domestically. 
-The country of export and of origin. 
-The identity of each known producer or foreign exporter. 
-The list of importers, proof of the price at which the product is sold in the country of origin (at a comparable 
level, i.e. the same level of trade). 
-Proof of the existence of dumping (invoices, comp uted value) or subsidization (legal text, etc.). 
-Data on the trend in the volume of imports. 
-Effect of these imports on the price of the like product on the domestic market. 
-Impact of the imports on the domestic industry (product ion, sales, inventories, use of plant capacity, etc.) 
and other information. The quantita tive data must be submitted in writing and on magnetic media.  
B. For exporting or importing compan ies or domestic producers requesting  the review of definitive duties: 
-Data on the price at which the product that is the subject of the application for definitive duties is sold in the 
country of origin (at a comparable level, i.e. at the same level of trade). 
-Trend in the volume of imports. 
-Effect of these imports on the price of the like product on the domestic market. 
-Impact of the imports on the domestic industry (production, sales, etc.) and other information. 
The quantitative data must  be submitted in writing and on magnetic media.  
3. In order to request that certain information remain confidential, the applicant mu st explain the reasons why 
the information should remain confidential and provide a non-confidenti al summary thereof.  
4. Copies for all the parties mentioned in the application or, in the case of review of definitive duties, for the 
number of parties that participated in the investigation leading to application of such duties.  
5. Proof of payment of the tax corresponding to one UI T. Payment of 40% must be made when the application 
is submitted and the balance paid via a refund solely if the Commission orders the initiation of the 
investigation or the review of definitive duties.  
Source: Single Text of Administrative Proc edures (TUPA). Information viewed online at: 
http://www.indecopi.gob.pe/repositorio aps/0/0/jer/datgentu pa1/Tupa/CFD.pdf. 
3.46.  During the review period, 38 anti-dumping investigations were initiated, compared 
to 40 between January 2000 and December 2006. Of these 38 investigations, only eight 
corresponded to initial investigations and the others were procedures for the review of anti-dumping duties previously imposed (Table 3.8). During the period 2007-2012, 
five definitive anti-dumping measures were imposed on imports of biodiesel (United States), 
footwear (Viet Nam), white cement (Mexico) and textiles (India).
48 According to the notification 
to the WTO, at 31 December 2012 Peru had 11 anti-dumping measures in effect, of which seven 
                                               
47 The CFD acts in accordance with the provis ions in the WTO Agreements, which have been 
incorporated into Peru's legislation, Supreme Decree No. 006-2003-PCM and Supreme Decree No. 133-91-EF 
and amendments thereto. Information viewed online at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=5&JER=726). 
48 There are two cases concerning white cement from Mexico. WT/TPR/S/289/Rev.1 • Peru 
 
- 43 - 
 
  concerned China and the others India, Pakistan, the United States and Viet Nam. Five measures 
have been in effect for over ten years. Most of the measures applied to textiles and footwear.49 
Table 3.8 Anti-dumping and co untervailing measures, 2007-2012 
 2007 2008 2009 2010 2011 2012 
Anti-dumping measures       
Initiations 4 5 7 6 8 8 
Initial investigations 1 1 4 - 1 1 
Reviews 3 4 3 6 7 7 
Sunset reviews 3 1 2 3 3 4 
Changed circumstances review - 3 1 3 4 3 
Provisional measures imposed  - - 3 1 - - 
Definitive anti-dumping measures 1 - 2 1 1 - 
Expiry 2 2 7 1 8 5 
Expiry of the time-limit 2 2 3 1 3 4 
In reviews - - 4 - 5 1 
Sunset reviews - - - - - - 
Changed circumstances reviews - - 4 - 5 1 
Revocations - 1 - 1 - - 
Countervailing measures       
Initiationsa 1 - 2 - - 1 
Provisional measures imposed  - - 1 - - - 
Definitive countervailing measures  - - - 2 - - 
Expiryb - 1 - - - - 
a The only initial investigations during the period 2007-2012 concerned subsidies. No review 
of countervailing duties was initiated during this period. 
b During the period 2007-2012, no countervailing measures imposed by the Commission 
were revoked. 
Source: Information provided by the authorities. 
3.47.  Between 2007 and 2012, Peru conducted four subsidy investigations, of which only two led 
to the imposition of countervailing duties (Table 3.8). The imports concerned were olive oil from 
Spain and Italy and biodiesel from the United States.50 The measures imposed on imports of olive 
oil were repealed in 2013. 
3.1.7.2  Safeguards 
3.48.  Peru's domestic legislation on WTO safeguards is still Supreme Decree 
No. 020-1998-ITINCI. It also has legislation establishing the procedures for implementing the bilateral safeguards provided in the regional agreements it has signed.
51 
3.49.  Safeguard investigations can be initiated at the request of a party with a legitimate interest 
or ex officio. INDECOPI, through the CFD, is responsible for deciding whether to initiate 
a safeguard investigation within the WTO framework. If it is decided to initiate an investigation, 
the proceedings must be conducted within six mo nths calculated from the date of publication 
of the notice of initiation in the Official Journal El Peruano. After the investigation has been 
concluded, the CFD has to issue a technical report containing its recommendation on whether or not the safeguard measure requested needs to be  applied. In critical circumstances where delay 
would cause damage to the domestic industry which it would be difficult to repair and if so 
requested by the applicant, INDECOPI draws up a preliminary technical report during the course of the investigation to assess whether it is necessary to impose provisional measures. The decision 
on whether or not to apply the definitive or provisional safeguard measures requested, however, 
lies with a multisectoral commission composed of the Ministers of Foreign Trade and Tourism 
(MINCETUR), the Economy and Finance (MINEF), and the sector to which the domestic industry 
affected belongs. Box 3.3 describes the procedure for initiating a safeguard investigation. 
                                               
49 WTO document G/ADP/N/237/PER of 19 March 2013. 
50 WTO document G/SCM/N/250/PER of 20 March 2013. 
51 Supreme Decree No. 006-2009-MINCETUR of 16 January 2009 
and Supreme Decree No. 008-2009-MINCETUR of 16 January 2009. WT/TPR/S/289/Rev.1 • Peru 
 
- 44 - 
 
  Box 3.3 Procedure for safeguard measures, 2013 
1. An application is submitted for initiation of an investigation or extension of a safeguard measure, 
identifying the applicant, giving details of its do micile and economic activi ty, and attaching copies 
of documents proving the applicant's existence and, where applicable, that of its legal representative.  
2. A questionnaire duly completed by  applicant producers, which must include the following information: 
-Complete description of the imported product. 
-Tariff heading. 
-Applicable tariff. 
-Description of the like or directly competitive domestic product. 
-Data on imports and on domestic production fo r the previous three calendar years (by month). 
-Quantitative data indicating the degree of serious injury or threat thereof. 
-The causal link. 
Quantitative data must be submitted in writing and on magnetic media. 
3. In order to request that certain information remain confidential, the applicant must explain the reasons 
why the information should remain confidential and provide a non-confidential summary thereof. 
4. Proof of payment of the tax corresponding to o n e  U I T .  P a y m e n t  o f  4 0 %  m u s t  b e  m a d e  w h e n  t h e  
application is submitted and the balance paid via a refund solely if the Commission orders the initiation 
of the investigation or the review of definitive duties.  
Source: TUPA. Information viewed online at: 
http://www.indecopi.gob.pe/repositorio aps/0/0/jer/datgentu pa1/Tupa/CFD.pdf. 
3.50.  During the review period, Peru initiated only one investigation, in 2009, with a view to the 
application of a general safeguard measure to imports of cotton yarn (HS 5205 and 5206)52, 
although this ended without any measure being applied.53 
3.51.  A corrective ad valorem tax of 29% on the c.i.f. valu e applies to imports of fats 
(NANDINA 1511.90.00, 1516.20.00 and 1517.90.00) from Colombia and 
the Bolivarian Republic of Venezuela.54 
3.1.8  Technical regulations and standards 3.52.  Peru's legal framework governing standardization is composed of both domestic legislation 
and international and supranational rules (Table 3.9). 
Table 3.9 Legal framework governing Peru's standardization system, 2013 
Legal instrument Description 
International agreements:   
Legislative Resolution No. 26407 Approves the Agreement establishing the WTO and the 
multilateral trade agreements contained in the Final Act of the 
Uruguay Round (December 1994). 
ISO 59:2008  Code of Good Practice for Standardization. 
Supranational rules:  
CAN Decision No. 376  Andean system of standardization, accreditation, testing, 
certification, technical regulations and metrology. 
CAN Decision No. 419  Amendment to Decision No. 376 and establishing the Andean 
system of standardization, accred itation, testing, certification, 
technical regulations and metrology. 
CAN Decision No. 615  Notification information and technical regulation system 
of the CAN. 
CAN Decision No. 562  Guidelines for the preparatio n, adoption and application 
of technical regulations in member countries of the CAN and at 
the Community level. 
CAN Resolution No. 313  Updates the regulations of the Andean Standardization 
Network. 
Domestic legal rules:  
Legislative Decree No. 1033 Law on the Organization and Functions of INDECOPI 
(Article 28). 
Legislative Decree No. 1030 Law on National Standardization and Accreditation Systems. 
                                               
52 WTO document G/SG/N/6/PER/2 of 25 March 2009. 
53 WTO document G/SG/N/9/PER/2 of 2 November 2009. 
54 Article 90 of the Cartagena Agreement and Ministerial Resolution No. 226-2005-MINCETUR/DM, 
published in El Peruano  of 27 July 2005. WT/TPR/S/289/Rev.1 • Peru 
 
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  Legal instrument Description 
Legislative Decrees Nos. 668 and 682 Measures to ensure the freedom of foreign/domestic trade 
(September 1991). 
Supreme Decree No. 149-2005-EF Regulatory provisions for the WTO Agreement on Technical 
Barriers to Trade in relation to goods and the General 
Agreement on Trade in Services  in relation to services.  
Supreme Decree No. 081-2008-PCM Regulations implemen ting the Law on National Standardization 
and Accreditation Systems. 
Regulations of the Commission:  
Resolution No. 048-2008/INDECOPI-CNB Regulations on the preparation and approval of Peruvian 
technical standards. 
Resolution No. 048-2008/INDECOPI-CNB Regulations of technical standardization committees. 
Standardization guidelines:  
GP 001:1995 Guidelines for the drafting, format and presentation 
of Peruvian technical standards. 
GP 002:1995 Guidelines for the presentati on of printed texts of outlines, 
drafts and Peruvian technical standards.  
GP-ISO/IEC 2:2013 Standardization and related activities: 
General glossary. 
GP-ISO/IEC 21-1:2013 Regional or national  adoption of international standards 
and other outcomes of inte rnational standardization, 
Part 1: Adoption of international standards.  
GP-ISO/IEC 21-2:2008 Regional or national adoption of international standards 
and other outcomes of inte rnational standardization, 
Part 2: Adoption of other docu ments arising from international 
standardization other than international standards. 
Source: Online information from INDECOPI, viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=6&JER=421. 
3.53.  INDECOPI's Committee for the Harmonizat ion and Regulation of Non-Tariff Barriers 
to Trade (CNB)55, created in 2008, is the standardization agency responsible for approving 
Peruvian technical standards (NTP) for all sectors56 and these are voluntary57; they are public 
documents that may be consulted, referenced and used by any person who so wishes. 
3.54.  NTPs are drawn up by technical standard ization committees, which first prepare a technical 
document called a "draft technical standard" (Box 3.4) and then finalize it in collaboration with representatives of producers, consumers and academic circles. The technical committees, 
the Commission or entities interested in the topi c such as trade unions or ministries may request 
that the standardization procedure be applied to any subject matter. In June 2013, there 
were 125 technical committees, of which 102 were operating.
58 
Box 3.4 Standardization procedure 
The standardization procedure cons ists of the following stages: 
Proposal: the drafting or revision of an NTP is prop osed for inclusion in the technical committee's plan 
of work.  
Preparation: the technical committee and the CNB, when  it is acting ex offici o, prepare a preliminary 
working document entitled "O utline or preliminary draft of a technical standard". 
Review by the committee: the outline or preliminary draft of the technical standard is reviewed by the 
technical committee and subsequently approved as  a draft NTP and is then forwarded to the CNB 
for approval. 
Public discussion: the draft NTP is put before intere sted parties for review in order to guarantee the 
transparency and impartiality of the standardizat ion procedure. The procedure is published in El Peruano.  
Deadlines are set for submitting comments on the draf t NTP, which run from the first day of publication 
until the time-limit expires. There are three systems with different deadlines:  
                                               
55 Formerly the Commission on Technical and Trade Regulations (CRT). 
56 Legislative Decree No. 1030 of 24 June 2008. 
57 Supreme Decree No. 149-2005-EF of 23 November 2005. 
58 Information provided by the authorities. WT/TPR/S/289/Rev.1 • Peru 
 
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  System 1 or adoption: publication for one month ( 30 days) to allow interested parties to submit 
comments. 
System 2 or regular system: publication for two months  (60 days) to allow interested parties to submit 
comments. This system is followed, inter alia, when there are no international standards or, because 
of climatic or geographical factors,  these are considered insufficient. 
System 3 or emergency system: publication determined by the Commission. This system is only followed 
when there is a substantiated request to resolve a situation urgently.  
Approval: the NTP has to be approved by a resolution by the CNB, published in El Peruano . 
Editing: period that runs from approval  as an NTP to final publication.  
Dissemination: the NTP is disseminated through electronic communication channels, forums 
and meetings. This is done jointly by INDECOPI and the committees.  
Source: Online information from INDECOPI, "Normalización", viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=6&JER=405 . 
3.55.  In June 2013, 4,248 NTPs had been approved by INDECOPI59, of which 686 were identical 
to international standards.60 The competent authorities converted 111 of these into technical 
regulations (RT), making them mandatory. 
3.56.  RTs have to be applied and they are prepared by various ministries in the 
Central Government according to their spheres of competence. When drawing up a draft RT, 
the ministries must base themselves on the availa ble scientific and technical information. The draft 
then has to be published in El Peruano, on the websites of the ministries concerned or in any other 
medium for a minimum of 30 calendar days in order to receive comments before it is officially 
published, not forgetting the notification which MINCETUR has to send to the WTO and the CAN. 
The lapse of time between publication of the definitive RT and its entry into force may not be less 
than six months.61 The RT must be approved by a Su preme Decree and endorsed by MINEF, 
which ensures before, during and after the publication and notification procedure, inter alia, 
that the draft RT does not contain measures that unnecessarily restrict trade, either internally or externally. When approving an RT that is ba sed on an NTP or refers to one, for reasons 
of transparency INDECOPI publishes the re gulation on its website under the heading 
"Peruvian Mandatory Technical Regulations", indicating the RT that is being made mandatory.
62 
3.57.  Technical regulations are published on the Peruvian Technical Regulations website created 
in 2009.63 The Peruvian authorities have indicated that, during the period under 
review (2007-2012), 18 technical regulations were approved, of which four are the same as international standards and the others are base d on them. Through MINCETUR, Peru submitted 38 
notifications concerning the drafting or ad option of technical regulations between 2007 
and May 2013. Most of these measures were adopted in order to protect human health and safety and to provide consumers with accurate informat ion. The products concerned by such measures 
are for the most part pharmaceuticals, medical devices, sanitary products, food and beverages.
64 
3.58.  Peru's legislative texts on the adoption of  technical regulations (Table 3.9) also cover the 
adoption of emergency technical regulations, wh ich may be adopted without having to consult 
various trading partners, although they must be notified within 24 hours of their publication. 
Such regulations can only be adopted when there ar e, or there is a risk of, problems of national 
security, health or protection of the environment. Emergency technical regulations are valid for one year and may be extended by a maximum of si x months. When it is in the national interest 
and the circumstances so warrant, however, an emergency technical regulation may be converted 
into an RT before one of these time-limits expire s, after having undergone the required approval 
                                               
59 Online information from INDECOPI, viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=6&JER=429. 
60 Information provided by the authorities. 
61 CAN Decision No. 562 of 25 June 2003. 
62 INDECOPI, Peruvian Mandatory Technical Re gulations, information viewed online at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=14&JER=718. 
63 Online information from MINCETUR, viewed at: 
http://www.mincetur.gob.pe/webRT/frmBuscador.aspx. 
64 WTO documents in the series G/TBT/N/PER/- from 1 January 2007 to 31 July 2013. WT/TPR/S/289/Rev.1 • Peru 
 
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  procedure. During the period under review, ten emergency RTs concerning various products were 
issued.65 
3.59.  Products subject to RTs must have a certificate issued by the specialized public or private 
institutions designated by the ministries. 
3.60.  Importers and domestic manufacturers of goods governed by a technical regulation must 
apply to the competent ministries for a "Statement of Compliance", which is valid for one year and may be renewed for further one-year periods. Importers may use this statement for all 
customs clearance procedures and it must be forwarded to the Customs before inward clearance 
of the goods.
66 The operations needed for compliance with the RT's requirements may be carried 
out while the goods to be imported are stored prior to clearance. 
3.61.  Peru has notified that the Vice-Ministr y of Foreign Trade in MINCETUR is the body 
designated to act as the National Enquiry Point for mandatory technical regulations and conformity 
assessment procedures and INDECOPI'S CNB is the body designated to act as the National Enquiry Point for voluntary standards and conformity assessment procedures.
67 
3.62.  INDECOPI, through the CNB, represents Peru in various international standardization bodies 
such as ISO and the International Electrotechnical Commission, as well as at the regional level in the CAN's Andean Standardization Network; the Pan American Standards Commission 
(COPANT); the Sub-Committee on Standards and Conformance of the Asia-Pacific Economic 
Cooperation Forum (APEC); and the Pacific Area Standards Congress (PASC).
68 
3.1.9  Sanitary and phytosanitary measures 3.63.  Peru has three national authorities with competence for sanitary and phytosanitary matters 
and they are responsible for issuing and implementing regulations in their respective spheres 
of competence. The National Agrarian Health Se rvice (SENASA) at the Ministry of Agriculture 
(MINAG) deals with animal and plant health and the safety of agricultural and livestock food 
products at the production and primary processing stages; the National Fisheries Health 
Service/Production Technology Institute (SANIPES /ITP) at the Ministry of Production (PRODUCE) 
inspects and monitors fishing and aquaculture an d the processing of fisheries products; and the 
Directorate-General of Environmental Health (D IGESA) at the Ministry of Health (MINSA) 
is responsible for sanitary monitoring and control of industrially processed foods. Although they have different responsibilities, these three bodies cooperate closely and, as far as food safety is concerned, there is a Standing Multisectoral Commission on Food Safety (COMPIAL), attached 
to and chaired by MINSA, in which SEN ASA, DIGESA and SANIPES/ITP participate.
69 
3.64.  Peru considers that agrarian health is a public asset that makes an important contribution 
to protecting consumers' health and promoting competition among domestic producers inasmuch 
as it limits the losses caused by the introduction and spreading of pests and diseases, as well 
as the risk of not having access to foreign markets because of sanitary factors.70 
Accordingly, and bearing in mind the updated international regulations and the treaties 
and agreements Peru has signed, since 2007 Peru has issued new rules and updated those already 
existing in order to raise the level of competitiveness of products and sanitary services (Table 3.10). One of the most important rules is the General Law on Agrarian Health, which lays down the legal framework for providing official an imal and plant health services essential for the 
protection of human, animal and plant health.
71 
                                               
65 Information provided by the authorities. 
66 Supreme Decree No. 149-2005-EF of 23 November 2005. 
67 WTO document G/TBT/2/Add.29/Rev.2 of 3 December 2008. 
68 Information viewed online at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=6&JER=425. 
69 Article 13 (Law on Food Safety) of Legislative Decree No. 1062 of 28 June 2008. 
70 Supreme Decree No. 018-2008-AG and MINAG (2012). 
71 Legislative Decree No. 1059 of 28 June 2008. WT/TPR/S/289/Rev.1 • Peru 
 
- 48 - 
 
  Table 3.10 Legal framework for sanita ry and phytosanitary matters, 2012 
Institution and 
legal text  Description Date of publication 
SENASA   
L.D. No. 1059 General Law on Agrarian Health 28.06.2008 
S.D. No. 018-2008-AG Regulations implementing the General Law 
on Agrarian Health 31.08.2008 
L.D. No. 1080 Amends the General Law on Seeds (Law No. 27262), 
setting out the respon sibilities of the 
(INIA); the amendment is implemented 
by Supreme Decree No. 006-2012-AG 28.06.2008 
Law No. 29196 Law on the Promotion of Organic or Ecological 
Production  29.01.2008  
S.D. No. 010-2012-AG Approves the regulations implementing 
Law No. 29196 - Law on the Promotion of Organic 
or Ecological Production  24.07.2012  
L.D. No. 1062 Approves the Law on Food Safety  28.06.2008 
SANIPES/ITP   
Law No. 28559 Law on the National Fisheries Health Service  26.06.2005 
S.D No. 025-2005-PRODUCE Approves the regulations implementing the Law 
on the National Fisheries Health Service  30.09.2005 
S.D. No. 010-2008-PRODUCE  Maximum permissible limits (MLP) for the fish meal 
and oil industry and supplementary rules  30.04.2008 
S.D. No. 027-2009-PRODUCE Extends the scope of the "P rogramme for Monitoring 
and Control of Fishing and Unloading in the Maritime 
Sphere"  24.07.2009 
L.D. No. 1062 Approves the Law on Food Safety  28.06.2008 
DIGESA   
Law No. 26842 General Health Law 20. 07.1997 
L.D. No. 1062 Approves the Law on Food Safety  28.06.2008  
S.D. No. 034-2008-AG Approves the regulations implementing the Law 
on Food Safety  17.12.2008  
S.D. No. 007-98 SA Regulation on sanitary surveillance and control 
of food and beverages 25.09.1998 
M.R. No. 449-2006/MINSA Sanitary standard for application of the HACCP 
system in the production of food and beverages 27.08.2008 
M.R. No. 591-2008/MINSA Sanitary standard establishing microbiological 
criteria for the sanitary quality and safety of food 
and beverages for human consumption  29.08.2008  
Source: WTO Secretariat. 
3.65.  The sanitary and phytosanitary regulations issued by the three institutions responsible are 
based on international standards, guidelines and recommendations drawn up by the competent 
international organizations, namely, the International Plant Protection Convention (IPPC), 
the World Organisation for Animal Health (OIE) and the Codex Alimentarius.72 
3.66.  SENASA lays down animal health requirements for imports (RZI) to prevent the introduction 
of diseases into Peru and these are in addition to the animal health import permit (PZI).73 
An importer may request SENASA's Subdirectorate of Animal Quarantine to draw up RZIs if none exist. The Subdirectorate examines the sanitary information available in the country of origin 
or source, including a risk analysis where necessary, and determines whether it is feasible to issue 
such requirements. If that is the case, the requirements are forwarded to the competent official authority in the exporting country so that they can be harmonized and receive final approval. Once harmonized, the RZIs are published and th e corresponding animal health import permit 
is issued.
74 
3.67.  SENASA has defined five risk categories for livestock goods depending on their capacity 
to transmit pathogens that present a risk for public or animal health, their level of processing, 
                                               
72 Information provided by the authorities. 
73 Imports of livestock goods. Information viewed online at: 
http://www.senasa.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=1&JER=4. 
74 Animal health import requiremen ts. Information viewed online at: 
http://www.senasa.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=1&JER=64. WT/TPR/S/289/Rev.1 • Peru 
 
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  or their form of presentation or use.75 The action taken by SENASA depends on the risk category 
of the product to be imported (Box 3.5). 
Box 3.5 Risk categories 
Risk category 1: Products and byproducts of animal origin that have undergone one or more chemical or physical 
treatments, resulting in a high degree of transformation from their natural state, eliminating the possibility 
of carriage of pathogens of quarantine importance. No sanitary import permit or sanitary export certificate 
is required, and they do not have to undergo sanita ry inspection at the point of entry into Peru.  
Risk category 2: Products and byproducts of animal origin that have undergone one or more chemical or physical 
treatments in the course of their production, lessening the possibility of carriage of pathogens of quarantine 
importance. No sanitary import permit for entry into Peru is required, but they must have an original sanitary 
export certificate that complies with the sanitary requirements laid down and they are inspected at the point 
of entry.  
Risk category 3: Products and byproducts of animal orig in whose production or industrialization process does not 
guarantee the destruction of pathogens of quarantine im portance. A sanitary import permit and an original 
sanitary export certificate are required for entry into Peru and an inspection is carried out at the point of entry.  
Risk category 4: Primary products of animal origin, used directly or without processing. A sanitary import permit 
and an original sanitary export certificate are required for entry into Peru, and an inspection is carried out at the 
point of entry.  
Risk category 5: This category includes animals, materi als for reproduction or other products of animal origin 
deemed to pose a higher sanitary risk of introducing path ogens. A sanitary import permit and an original sanitary 
export certificate are required for entry into Peru, and an inspection is carried out at the point of entry.  
Source: Directorate Resolution No. 004-2013-AG-SENASA-DSA of 14 March 2013. 
3.68.  Any facility manufacturing products of animal origin to be exported to Peru must 
be approved by SENASA. The procedure is initiated with the official animal health authority in the 
exporting country, which has to forward an  official request to SENASA in Peru.76 The latter decides 
whether the facility complies with the requirements  and, depending on the result of its evaluation, 
an in situ inspection of the facility is conducted, at th e expense of the interested party. After this 
inspection, SENASA decides whether or not to approv e the facility. If it considers it appropriate, 
it may grant approval after examining the documents alone. 
3.69.  Through its Plant Health Directorate, SENASA also determines phytosanitary requirements 
according to the product, its country of origin and/or source and its proposed use, after carrying 
out a pest risk analysis.77 The analysis may be carried out on the basis of the requests 
and technical information furnished by national phytosanitary protection organizations (ONPF) in the countries of origin or by importers or exporters, and also using the relevant databases.
78 
3.70.  In accordance with the regulations on plant quarantine79, a PFI is the official document 
issued by SENASA authorizing the import of pl ants, plant products and other items that are 
regulated, and is a mandatory requirement before such products may enter Peru.80 This document 
has to be issued and certified officially in the country of origin and/or source before the products 
are shipped to Peru. It is valid for a single shipme nt and for 90 calendar days calculated as of its 
date of issue. Products to be shipped to Peru must be inspected by SENASA at authorized border 
control points (PCCE).81 The Plant Quarantine Inspector takes the necessary precautionary 
measures if a phytosanitary problem is detected and, if the shipment does not comply with 
                                               
75 Directorate Resolution No. 004-2013-AG-SENASA-DSA of 14 March 2013. 
76 The official authority in the expo rting country has to submit the following information: list of the 
facilities wishing to export to Peru, giving details such as the name, address, official numb er and the products 
to be exported; documents explaining the process used to produce the goods for export, with a chart showing 
the flow of production, details of the procedures used to manufacture the product, and the origin of the raw 
materials; and approval  given by the official authority that certif ies proper hygiene prac tices and use of the 
HACCP system for the products to be exported (Procedure for approval. Information viewed online at: 
http://www.senasa.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=1&JER=67). 
77 Directorate Resolution No. 044-2006-AG-SENASA-DSV of 6 January 2007. 
78 The phytosanitary requiremen ts determined can be viewed on SENASA's website at: 
http://200.60.104.77/ConsultaRequisitos/consultarRequisitos.action. 
79 Supreme Decree No. 032-2003-AG of 24 August 2003. 
80 Phytosanitary import permit (PFI ). Information viewed online at: 
http://www.senasa.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=809. 
81 Phytosanitary import inspection. Information viewed online at: 
http://www.senasa.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=816. WT/TPR/S/289/Rev.1 • Peru 
 
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  the information in the documents, he may withhold it and give a time-limit for remedying the 
situation. Plant material for propagation may also be subject to post-entry quarantine for a specified period in order to eliminate the presence of any potential pests which, in general, appear during the cultivar's active growth cycle.
82 
3.71.  The aim of the Law on Food Safety is  to guarantee the safety of foods for human 
consumption in order to protect human life and health, with a precautionary and comprehensive approach throughout the food chain, which also includes animal feed. 
3.72.  In order to be sold on the domestic market, locally produced and imported processed foods 
require an official document issued by DIGESA, which is processed through the VUCE, confirming sanitary registration for food and beverages for human consumption.
83 Imported processed foods 
also need a certificate of sanitary registration of an imported product.84 In order to obtain this 
registration/certificate, the food or beverages must have been produced in a facility with sanitary 
approval. To obtain such approval, it is verified that the facility meets all the sanitary requirements and criteria specified for the manufacture of food and beverages and that it applies the HACCP 
system.
85 In addition, the food or beverages are in spected and analysed by taking samples. 
3.73.  DIGESA also monitors the storage and distribution of food for human consumption in order 
to ensure that the products are in conformity and comply with the sanitary requirements. 
3.74.  Between 2007 and May 2013, Peru submitted 339 notifications on the adoption of 
SPS measures through SENASA (Table 3.11). Most of these were adopted to protect plants. There were no notifications in respect of food safety or the protection of human health. The majority were regular notifications, with only  five emergency measures notified in relation 
to animal health and adopted to prevent the entr y of diseases such as foot-and-mouth disease 
or avian influenza into Peru. 
Table 3.11 Notifications of SPS meas ures to the WTO, 2007-2013 (May) 
 2007 2008  2009  2010  2011  2012 2013 Total  
Plant protection 17 66  115 43 61 18 320 
Animal health 8 3 3 2 1 1 1 19 
Food safety - - - - - 2 - 2 
Total 25 69 3 117 44 64 19 341 
Source: WTO Secretariat. 
3.2  Measures affecting exports 
3.2.1  Registration and documentation 3.75.  Export procedures have varied little since 2007. The most noteworthy change has been the 
streamlining and computerization of procedures. In general, in Peru natural or legal persons 
in possession of an RUC may export although, in special cases, natural persons who are not o b l i g e d  t o  h a v e  a n  R U C
86 may export using a personal identification document such as a DNI 
or foreign identity card or passport. 
3.76.  As is the case for imports, exports must  be placed under a particular customs regime 
or procedure, which may be: definitive export, temporary export for reimport in the same state or temporary export for outward processing (Box 3.6). 
                                               
82 General Directive No. 043-2000-AG-SENASA-DGSV-D an d post-entry quarantine (CPE): Information 
viewed online at: http://www.senasa.gob.pe/0/mo dulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=810. 
83 Single Text of Administrative Procedures (TUPA ): Registration or re-regis tration in the Sanitary 
Register of Food and Beverages for Human Co nsumption. Information viewed online at: 
http://www.digesa.sld.pe/expedientes/detalles.aspx?id=28. 
84 Ibid.: Certificate of sanitary registration of an imported product. Information viewed online at: 
http://www.digesa.sld.pe/expedientes/detalles.aspx?id=30. 
85 Ibid.: Official technical endors ement of the HACCP plan. Info rmation viewed online at: 
http://www.digesa.sld.pe/expedientes/detalles.aspx?id=34. 
86 Article 3 of Resolution No. 210-2004/SUNAT. WT/TPR/S/289/Rev.1 • Peru 
 
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  Box 3.6 Export regimes or procedures 
Definitive export 
Customs regime that allows Peruvian goods or goods that have been inward cleared to leave the customs 
territory for use or definitive consumption abroad.  
Temporary export for reimport in the same state 
Customs procedure allowing the temporary exit (for  12 months) from the customs territory of Peruvian 
goods or goods that have been inward cleared with the intent of reimporting them within a specified 
time-frame, without having undergone any modification , except for normal wear and tear. Goods exported 
under this customs procedure are not subject to the payment of tariffs or other taxes on imports for 
consumption or the corresponding surcharges when they are reimported.  
Temporary export for outward processing 
Customs procedure under which Peruvian goods or g oods that have been inward cleared are allowed 
to leave the customs territory to be transformed,  processed or repaired and are then reimported 
as compensating products wi thin a specified time-frame. 
Source: General Customs Law. 
3.77.  In order to facilitate trade and boost exports, (definitive) export procedures were 
computerized in Peru from 2007 onwards. The DAM and other export-related documents can now 
be processed electronically or through a custom s broker. Exports whose f.o.b. value is less 
than US$5,000 are processed by means of a streamlined export declaration (DSE)87, which can be 
done electronically through SUNAT's website or directly in its offices. The documents required 
to substantiate export are the same in both cases: a copy or photocopy of the transport document; a copy of proof of payment (invoice or  sales slip); and special authorizations or other 
certificates depending on the nature of the goods (for example, certificates of origin or sanitary 
certificates). Export formalities can now be completed in full using digital media, whereas up until 2009 all DAMs and other documents had to be submitted to SUNAT in hard copy. 
3.78.  SUNAT, using risk management techniqu es, decides to which declarations the amber 
channel will apply and which the red channel. The amber channel applies to most declarations 
and they are automatically regularized solely th rough acceptance of the digitalized information 
indicating that the goods have been shippe d. For goods assigned to the red channel, 
the documents are examined and there is also a ph ysical inspection. Currently, only 4% of goods 
go through the red channel.
88 
3.79.  All goods for export, with a few exceptio ns, must be placed under the authority of the 
Customs and therefore stored in a temporary warehouse. Perishable goods requiring special 
storage and live animals are exempt from this requ irement, together with dangerous goods, heavy 
and/or large machines and products to be exported in bulk in any state. In these cases, after the 
DAM has been processed, the customs broker has to forward the request for direct loading from 
the warehouse designated by the exporter.89 
3.2.2  Export duties 3.80.  Exports of goods or services are not subject to any tax, including the IGV.
90 
3.2.3  Quantitative restrictions, controls and licences 
3.81.  Peru prohibits or restricts some exports for reasons of public health, morals, to protect the 
environment, or to comply with commitments in international agreements and treaties it has 
signed, for example, the Convention on Inte rnational Trade in Wild Species of Fauna 
and Flora (CITES). 
                                               
87 The monetary value is declared in United States dollars. Values expressed in other currencies have 
to be converted into United Stat es dollars using the exchange tabl es published on SUNAT's website 
and applicable on the date shown on  the number of the declaration. 
88 Information provided by the authorities. 
89 For further details on definitive export  procedures, see: Definitive Export -  General Procedure 
INTA-PG.02 of 17 March 2009. 
90 Article 60 of the General Customs Law; Article 33 of the Updated Text of the Law on the IGV 
of 15 March 2007, Supreme Decree No. 055-99-EF and Legislative Decree No. 1119 of 17 July 2012. WT/TPR/S/289/Rev.1 • Peru 
 
- 52 - 
 
  3.82.  Peru still bans the export of wild species, vicunas and guanacos and hybrids; 
skins and leather articles made from wild animals protected by the MAG; cedar and mahogany; maca in the natural state; specimens of camu camu berries ( Myrciaria dubia ); specimens of cats' 
claw ( Uncaria tomentosa  and Uncaria guianensis ); pijuayo; some organic chemicals; works of art, 
copies and books over 100 years' old.
91 
3.83.  MAG continues to set annual quotas for the export of alpacas and llamas in order to foster 
economic, social and environmental sustainability in the Andean and High Andean regions 
and among farming communities and agricultural firms involved in this activity.92 
3.84.  Peru does not make use of export licences. 3.2.4  Support for exports 3.85.  Peru has notified the WTO that during the period 2007-2011 it did not grant any export 
subsidies for agricultural products.
93 
3.86.  The duty drawback scheme is still in e ffect in Peru. It gives producers and exporters 
of goods total or partial refund of the tariffs paid on the inputs imported for production, and the 
goods produced using imported inputs or raw mate rials purchased from local suppliers, provided 
that the c.i.f. value of the imported inputs used  does not exceed 50% of the f.o.b. value of the 
product exported.94 
3.87.  This scheme allows the refund of a percentage  of the f.o.b. value of exports if they do not 
exceed US$20 million annually, by tariff heading and by unrelated exporter.95 The duty drawback 
may not exceed 50% of the cost of producing the exports. Moreover, certain products are excluded from the scheme. 
3.88.  During the period 2007-2009, the rate remained 5%. In response to a negative situation 
in overseas markets caused by the international crisis, however, the rate rose to 8% in the first half of 2010, falling to 6.5% in the second half of the year and returning to 5% as 
of January 2011.
96 
3.89.  The goods not covered by the drawback scheme (some 279 ten-digit tariff lines) include 
some of Peru's key traditional exports: copper ore and its concentrates: raw gold; fresh edible 
offal of bovine species and fish waste; coffee and oilseed cake.97 The drawback scheme does not 
apply either to exports which: incorporate inputs that have entered under the temporary admission and/or import procedures; have been  the subject of inward clearance under the 
replacement of duty-free goods regime; have been  the subject of inward clearance with tariff 
exemption; or are duty free under regional agreements. 
3.2.5  Financing, insurance and promotion 3.90.  The Development Finance Corporation S.A. (COFIDE S.A.) still acts as Peru's only 
development bank. It has programmes and lines of credit to finance all stages of the investment 
process and foreign trade operations by Peruvian companies, including micro and small enterprises 
(MSEs). The credit lines and programmes administered by COFIDE are channelled through 
intermediate financial institutions (IFI). COFIDE does not finance entrepreneurs directly. 
                                               
91 WTO (2007). 
92 Law No. 28041 of 24 July 2003, and Ministerial Resolution No. 0426-2012-AG of 7 November 2012, 
which sets the quota for 2012. 
93 WTO documents: G/AG/N/PER/7 of 28 July 2010, G/AG/N/PER/9 of 5 October 2011, G/AG/N/PER/10 
of 20 November 2012 and G/AG/N/PER/11 of 8 July 2013. 
94 Legislative Decree No. 1053 of 26 June 2008 (Articles 82 and 83), Legislative Decree approving the 
General Customs Law and Supreme Decree No. 104-95-EF of 23 June 1995. 
95 Article 3 of Supreme Decree No. 104-95-EF, as amended by Supreme Decree No. 072-2001-EF, 
and Supreme Decree No. 001-2003-EF. 
96 Supreme Decree No. 018-2009-EF of 29 January 2009 and Supreme Decree No. 288-2009-EF 
of 7 December 2009. 
97 The full list of the tariff headings not covered can be found in Supreme Decree No. 127-2002-EF 
of 25 August 2002, as amended by Supreme Decree No. 056-2003-EF of 6 May 2003. WT/TPR/S/289/Rev.1 • Peru 
 
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  The interest rates for the various programmes are set by common agreement between the IFIs 
and the financial beneficiary, and not by COFIDE. 
3.91.  Through the integral financing programme for the export sector (FIEX), COFIDE continues 
to provide support for Peru's export growth by financing investment, working capital and foreign 
trade operations in general. Beneficiaries must be domiciled in Peru and must directly or indirectly 
export at least 30% of their production or pr ove that the resources sought are to be used 
to finance their exports, which may include capital goods, durable consumer goods or engineering 
and assembly services. The programme has three components: pre- and post-shipment 
(FIEX-PPE), working capital (FIEX-CT) and investment (FIEX-INV) and the interest rates are fixed by negotiations between the IFI and the sub-borrower, as is the case for the other programmes financed by COFIDE. 
3.92.  SMEs are, in general, eligible for all the financing programmes and credit lines administered 
by the Corporation, but to facilitate access to financing and liquidity for MSEs, which accounted for 99% of the country's economic units and employed 66% of the economically active 
population
98 in 2012, COFIDE has a series of programmes specifically designed for them such 
as Comex Exportación, MICROGLOBAL and PROPEM.99 Through Comex Exportación, COFIDE offers 
natural and legal persons domiciled in Peru financing of up to 100% of the capital needed for both 
pre- and post-shipment of exports of goods and se rvices of Peruvian origin. These funds may not 
be used to finance the export of arms or foreign trade operations with Cuba or Haiti. In 2009, as a temporary measure, the Business Guarantee F und (FOGEM) was created, to be administered 
by COFIDE, in order to guarantee loans for work ing capital and fixed assets to exporting SMEs.
100 
By March 2013, guarantees covering over S/.330 million had been granted. 
3.93.  COFIDE still administers the export cr edit insurance scheme for SMEs (SEPYMEX), 
created in 2002. Under this programme, exporting SMEs are given easier access to credit through 
a credit insurance policy granted to firms in the national financial system as security for 
preshipment loans with Peruvian or foreign operators, without prior authorization to operate in Peru being required in the latter case. By October 2012, Peruvian financing companies had 
disbursed over US$1.7 billion in loans. 
3.94.  The Commission for the Promotion of  Peru's Exports and Tourism (PROMPERU), 
within MINCETUR, is responsible for promoting exports of goods and services according to sectoral policies and objectives. It carries out its activities in coordination with other relevant government 
authorities and in collaboration with the private se ctor. Peru's trade bureaux abroad are in charge 
of promoting trade, tourism and investment. 
3.3  Other measures affecting production and trade 
3.3.1  Incentives 
3.3.1.1  Sectoral support programmes 3.95.  In 2007, Peru established a special procedure for the advance refund of the IGV, 
which consists of refunding the IGV on the purchase of new capital and intermediate goods 
and construction services, whether imported and/or purchased locally, used during the pre-production stage of economic activi ties subject to the IGV or for export.
101 
                                               
98 Emergency Decree No. 049 ‐2010 of 21 July 2010. 
99 COFIDE defines a microent erprise as one that has no more than ten employees, including the owner, 
and whose total assets do not exceed the equivalent of US$20,000, excluding real estate. A small enterprise is defined as one whose annual sales do not exceed th e equivalent of US$1.5 million. Online information from 
COFIDE, viewed at: http://www.cofide.com.pe/frecuentes.html. 
100 Emergency Decree No. 024-2009 of 19 February 2009 (creating the Business Guarantee 
Fund-FOGEM and setting out supplementary provisions). 
101 Legislative Decree No. 973 of 9 March 2007. WT/TPR/S/289/Rev.1 • Peru 
 
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  3.96.  In 2012, Peru notified to the WTO two programmes for promoting aquaculture 
and small-scale fishing.102 Beneficiaries of the aquaculture promotion and development 
programme are eligible for a preferential 15% rate of income tax rate up to 31 December 2013.103 
Moreover, through the National Fisheries Development Fund (FONDEPES), natural or legal persons 
engaged in aquaculture or small-scale maritime or continental fishing may obtain loans 
and financial support at preferential rates, which in 2013 ranged from 3% to 7% depending on the fishing activity and the amount of the loan.
104 
3.97.  In its latest notification on domestic support for the period 1999-2003, Peru notified, 
inter alia, the National Programme for Managing Catchment Areas and Soil Conservation 
(PRONAMACHCS), the Southern Sierra Natural Resources Management Programme (MARENASS) 
and the Special Project to Promote the Use of Fe rtilizer from Seabirds (PROABONOS), which were 
merged into a single programme entitled AGRORURAL in 2008.105 Other programmes in this 
notification such as that on "payment documents", which concerned the payment of taxes on the import and sale of fertilizer, agricultural chemicals, mechanized irrigation, and breeding animals, 
were abolished in 2004.
106 
3.98.  Farmers also receive a preferential rate for income tax and advance refund of the IGV.107 
Since 2008, the tax concessions granted to agricultural producers have no longer been conditional 
upon the use of products of domestic origin (section 4.4).108 
3.99.  As a second-tier development bank, COFIDE also offers credit lines and programmes 
to finance various sectors. 
3.100.  Peru continues to implement programmes in support of other sectors such as mining 
(section 4.3), manufacturing (section 4.4) and the merchant marine (section 4.5.5). 
3.3.1.2  Support for micro and small enterprises (MSEs) 3.101.  In 2012, the MSEs sector accounted for 99.2% of Peru's economic units and 
employed 66% of the econom ically active population.
109 The State promotes all aspects of this 
sector and, pursuant to the Constitution, one of the State's functions is to boost sectors suffering from any inequality.
110 Since 2003, Peru has promoted the formalization and development of MSEs 
in order to raise productivity, employment and tax collection, as well as this sector's share of the 
domestic market, government procurement and exports.111 PRODUCE, through the 
National Council for the Development of Micro and Small Enterprises (CODEMYPE), defines national policies on the promotion of MSEs and coordinates the consistency and complementarity 
of sectoral policies with public and private sector bodies. 
3.102.  The tools used to promote the development and competitiveness of MSEs include 
mechanisms for access to financial services and their promotion. COFIDE is responsible for 
promoting the decentralization and expansion of the offer of financial services and capital 
                                               
102 WTO document G/SCM/N/220/PER of 20 December 2012. 
103 Law No. 27460 of 15 March 2011 and Supreme Decree No. 030-2001-PE of 6 December 2001, 
regulations implementing the Law on the Pr omotion and Development of Aquaculture. 
104 Supreme Decree No. 010-92-PE of 5 June 1992 establishing the National Fisheries Development 
Fund, and information provided by the authorities. 
105 WTO document G/AG/N/PER/8 of 21 October 2010. 
106 Legislative Decree No. 956 of 4 February 2004. 
107 Law No. 27360 (approving the regulations on promotion of the agricultural sector) 
of 20 October 2000. 
108 Legislative Decree No. 1035 of 24 June 2008. 
109 MSEs are defined according to their annual sales. Microenterprises are those whose sales reach 
a maximum amount of 150 UIT. Small enterprises may sell over 150 UIT up to a maximum of 1,700 UIT (Law No. 30056 of 2 July 2013). 
110 Article 58 of the Constitution. 
111 Law No. 28015 of 3 July 2003 (Law on the Promotion and Formalization of Micro and Small 
Enterprises) and the regulations in Supr eme Decree No. 008-2008 TR of 30 September 2008 
(implementing regulations for the Law on MSEs). WT/TPR/S/289/Rev.1 • Peru 
 
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  for MSEs. It channels financial resources to those MSEs which produce or use products 
manufactured or transformed in Peru.112 
3.103.  COFIDE allocates a percentage of the financial resources it manages to financing MSEs 
as some of the resources given to the financial institutions specializing in micro and small 
enterprises (IFIE) go to the guarantee funds for MSEs. COFIDE also has training and technical 
assistance activities designed to reinforce the development of the financial sector specializing 
in financing MSEs, such as the Subordinate Credit Programme. Efforts are also made through 
COFIDE to increase the assets of IFIEs.113 
3.104.  The overall aim of the credit support programme for small and microenterprises (PAME), 
implemented by the Cooperation for Social Development Fund (FONCODES), is to assist the development and consolidation of the financial credit services market for MSEs in rural areas 
and underprivileged urban areas in Peru that have no access to the financial system.
114 The PAME 
has two components: (i) the Loan Fund (with two types of lines, one for rural areas and the other for underprivileged urban areas) intended to finance production by microenterprises; 
and (ii) the Training and Technical Assistance Fund. 
3.3.2  Regional development programmes 3.105.  Zones receiving special treatment were created in Peru in order to reinforce regional 
socio-economic development through national and foreign private investment, the creation of more 
jobs and export growth. This regime was notified to the WTO and does not appear to have changed much since 2007.
115 Each special treatment zone (or Export, Processing, Industry, 
Marketing and Service Centre (CETICOS)) has been established by a special law which specifies 
the concessions and the activities that may be conducted in each of them. Currently, there are the 
following special treatment zones or CETICOS: Ilo116, Loreto, Matarani, Paita117 and Tumbes, 
the ZOFRATACNA118 and the Puno Economic Zone (ZEEDEPUNO).119 The Tumbes CETICOS was 
created in 2011.120 
3.106.  MINCETUR remains responsible for overseeing the special treatment zones.121 Any foreign 
trade operation may be carried out from these zones as they include logistics operators 
and SUNAT offices. In the case of ZOFRATACNA, foreign goods may go to third countries through 
any national customs post upon presentation of a transfer request. Exports originating in other 
special zones may go to third countries using a transfer request, but have to proceed through specific customs posts. Goods must be eligible for the transit regime in order to be exported 
through any customs post. 
3.107.  The tax concessions given to users of free zones or CETICOS have been extended up 
until 31 December 2022 in the case of the Ilo, Matarani and Palta CETICOS, until 2042 for the 
Tumbes CETICOS and up until 2041 for the ZOFRATACNA (Box 3.7).
122 Products exported 
to Peruvian territory from the special zones pay the lowest tariff negotiated by Peru in a trade agreement and products definitively exported from Peruvian territory to a special zone are eligible 
for the drawback regime and refund of the IGV. 
                                               
112 Article 29 of Law No. 28015 of 3 July 2003. 
113 Information viewed online at: http ://www.cofide.com.pe/ productos5.html. 
114 Information viewed online at: 
http://www.foncodes.gob. pe/portal/index.php/programas/programas-pame. 
115 WTO document G/SCM/N/220/PER of 20 December 2012. 
116 The Ilo CETICOS is a distribution centre for good s and the supply of services for large industries 
and mining in the south of Peru. 
117 Legislative Decree No. 864 of 27 October 1996 (Creating the Paita CETICOS). 
118 Law No. 27688 of 8 February 2002 (Law on the Tacna Free Zone and Commercial Zone) 
and Law No. 29739 of 6 July 2011 (Law on the Prom otion of Investment in the Tacna Free Zone 
and Commercial Zone, amending Law No. 27688). 
119 Supreme Decree No. 050-2007-EF of 27 April 2006 (approving the regulations implementing 
Law No. 28864 - Law on the Puno Spec ial Economic Zone (ZEEDEPUNO)). 
120 Law No. 29704 of 10 June 2011 (Law creating the Tumbes CETICO in the department of Tumbes) 
and Ministerial Resolution No. 019-2013-MINCETUR/DM (regulations implementing Law No. 26953 on the 
creation of the Loreto CETICOS). 
121 Article 14, Law No. 28569 of 2 July 2005. 
122 Law No. 29479 of 27 November 2009. WT/TPR/S/289/Rev.1 • Peru 
 
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  3.108.  The activities usually carried out in the special zones include: manufacturing 
or transformation; maquila (in-bond assembly) or assembly; agricultural industries; storage; services such as packaging, wrapping, labelling, classification of goods and repair of machinery 
and equipment. The activities that may or may not be conducted in each of the free zones are 
specifically stipulated in the la ws creating each of the zones.
123 
Box 3.7 Tax concessions granted in special treatment zones 
Exemption from import tax 
Exemption from income tax 
Exemption from the general sales tax 
Exemption from the municipal promotion tax 
Exemption from the selective consumption tax 
Exemption from payment of the ad valorem  customs tariff on the entry of goods 
Exemption from any other tax imposed by the Central Go vernment or regional or  municipal governments. 
Source: Information compiled by the Secretariat. 
3.109.  The programme on the promotion of invest ment in the Amazon region dates back to 1999 
and is still in force.124 Its purpose is to promote sustainable and overall development of the 
Amazon region through public and private inve stment. The tax concessions provided are only 
available to companies located in this area.125 They are granted for 50 years as of 1999 and have 
not changed to any major extent since 2007. Taxp ayers living in the Amazon region are given 
income tax exemption or reduction, depending on their activity; exemption from the IGV on sales 
in the area for consumption there; exemption for services provided in the region and on 
construction contracts or the first sale of real estate by constructors in the region; and exemption 
from the IGV and the ISC on sales to dealers and final consumers of petroleum, natural gas 
and their byproducts.126 
3.110.  Since 2010, in order to alleviate poverty in the High Andean regions through production 
activities that generate value added, Peru has gr anted waivers and/or exemptions from income tax 
to natural persons, MSEs, cooperative associations, communal and multicommunal companies 
which have their tax domicile, place of business and production centre in Andean regions at an altitude of 2,500 m or more above sea level, and companies in general established 
at an altitude of 3,200 m or more above sea leve l and engaged in any of the following activities: 
fish farming, aquaculture, meat processing, forestry plantations for commercial or industrial purposes, milk production, breeding of South Amer ican camelids and ovine animals and processing 
of their fibres and fleeces, agribusiness, crafts and textiles.
127 The concessions, which include 
exemption from income tax, tariffs and the IGV on imports of capital goods, will remain in effect 
until 31 December 2021.128 As of the second year, the income tax exemption is only granted 
to companies which increase value added, and for th is they must comply with the production/sales 
ratio determined annually by MINEF.129 
                                               
123 See for example: Supreme Decree No. 007-2008-EF (L ist of goods included in the national tariff 
subheadings regarding which activities may not be carried out by users within the ZEEDEPUNO) and 
Supreme Decree No. 008-2008-MINCETUR, extending the serv ices that may be supplied in the ZOFRATACNA. 
124 Law No. 27037 of 30 December 2008 (Law on the Prom otion of Investment in the Amazon Region), 
Supreme Decree No. 103-99-EF and amendments thereto: approving the implementing regulations for the tax 
provisions contained in the Law on the Prom otion of Investment in the Amazon Region. 
125 The Amazon area comprises the regions of Loreto, Madre de Dios, Ucayali, Amazonas 
and San Martín, as well as the Amazon provinces and dist ricts in the regions of Ayacucho, Cajamarca, Cuzco, 
Huánuco, Junín, Pasco, Puno, Huancavelica, La Libertad and Piura. 
126 WTO document G/SCM/N/220/PER of 20 December 2012,  Law on the Promotion of Investment in the 
Amazon Region (Law No. 27037); and implementing regula tions for the tax provisions contained in the Law 
on the Promotion of Investment in the Amaz on Region (Supreme Decree No. 103-99-EF). 
127 Law No. 29482 of 19 December 2009, Law on the Promotion of Production Development in 
High Andean Regions and Supreme Decree No. 051- 2010-EF, regulations implementing the Law on the 
Promotion of Production Developm ent in High Andean Regions. 
128 WTO document G/SCM/N/220/PER of 20 December 2012. 
129 Supreme Decree No. 051 ‐2010‐EF of 30 January 2010 (approving the regulations implementing 
the Law on the Promotion of Production Development in High Andean Regions), WT/TPR/S/289/Rev.1 • Peru 
 
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  3.3.3  Competition policy and price control 
3.3.3.1  Competition policy 3.111.  Peru's competition policy is mainly govern ed by the Constitution and, since 2008, also by 
the Law on the Suppression of Anti-Competitive Conduct
130, which repealed 
Legislative Decree No. 701 of 1991.131 In addition to these general legislative texts, Peru also has 
provisions regulating business concentration operations in particular sectors, such as electricity.132 
There have been no notable changes to these spec ial provisions since the previous review in 2007. 
3.112.  Peru's Political Constitution prohibits an d punishes anti-competitive conduct with the aim 
of boosting economic efficiency in markets.133 Pursuant to the Constitution, the State must 
facilitate and monitor free competition, and also combat any restrictive practices or abuse of a dominant or monopolistic position. Consequently, authorization and creation of monopolies 
by law or by concerted action are not allowed in Peru. Abuse of a dominant position and horizontal 
or vertical collusion in any sector are punishable
134, while prior control of business mergers is only 
required in the electric power sector. Conduct that  has an anti-competitive effect throughout Peru 
or in any part of the country is punished, even if the act originated abroad. 
3.113.  INDECOPI is in charge of implementing competition policy in all sectors, except for the 
public telecommunications services market, for which the Supervisory Authority for Private 
Investment in Telecommunications (OSIPTEL) is responsible (section 4).135 INDECOPI's role is to 
promote and oversee free competition so as to boos t economic efficiency in markets and raise the 
level of well-being. 
3.114.  INDECOPI's Free Competition Commission (CLC) is the collegiate body responsible for 
ensuring compliance with the competition laws136 and for settling proceedings concerning 
anti-competitive conduct at the first administrative level.137 The Technical Secretariat 
is a technically autonomous body which initiates investigation proceedings, punishes 
anti-competitive conduct and issues opinions on whether or not the offence investigated has been 
committed.138 Lastly, INDECOPI's Chamber for the Defe nce of Competition is responsible for 
reviewing challenges to rulings issued by the Commission or the Secretariat at the second and last 
instances (Box 3.8). 
                                                                                                                                               
Supreme Decree No. 139 ‐2010‐EF of 30 June 2010 (approving the production/sales ratios for the development 
of production in the High Andean regions for th e 2011 financial year) and Supreme Decree No. 014-2012-EF 
of 22 January 2012 (approving the production/sales ratios for the development of production in the High Andean regions for the 2012 financial year). 
130 Legislative Decree No. 1034 of 25 June 2008 (Law on the Suppression of Anti-Competitive Conduct). 
131 Legislative Decree No. 701 of 7 November 1991 (Law on the Elimination of Monopolistic Practices 
and Any Control or Restriction of Free Competition). 
132 Law against Monopolies and Oligopolies in the Electric Power Sector (Law No. 26876 
of 19 November 1997); regulations implementing the Law against Monopolies and Oligopolies in the Electric Power Sector, (Supreme Decree No. 017-98-ITINCI of 16 October 1998); and regulatory provisions for Law No. 26876, Law against Monopolies and Oligopolies in the Electric Power Sector (Supreme Decree No. 087-2002-EF of 1 June 2002). 
133 Articles 58 to 60 of the Constitution and Article 1 of Legislative Decree No. 1034. 
134 Articles 10 and 12 of Legislative Decree No. 1034 of 25 June 2008. 
135 Article 17 of Legislative Decree No. 1034. 
136 Legislative Decree No. 1034 (Law on the Suppression of Anti-Competitive Conduct) 
and Law No. 26876 (Law against Monopolies and Oligopolies in the Electric Power Sector). 
137 Article 14 of Legislative Decree No. 1034. 
138 Article 15 of Legislative Decree No. 1034. WT/TPR/S/289/Rev.1 • Peru 
 
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  Box 3.8 Responsibilities of the institutions 
Free Competition Commission (CLC) 
The CLC's responsibilities include: 
Declaring the existence of anti-competitive conduct and imposing the penalty applicable. 
Determining precautionary measures. 
Determining remedial measures concerning anti-competitive conduct. 
Issuing guidelines to enable market operators to interpret competition policy-related rules correctly. 
Proposing and recommending the implementation of measures to promote free competition.  
Technical Secretariat of the Commission  
The Technical Secretariat's responsibilities include: 
Conducting preliminary investigations. 
Initiating investigation procedures ex officio and punishing anti-competitive conduct. 
Deciding whether to conduct an investigation and punish anti-competitive conduct following a complaint 
by a party, declaring the complaint out of  order or unfounded where appropriate.  
Requesting the Commission to order a precautionary measure. 
Undertaking training activities an d propagating the implementation of the rules on free competition.  
Source: INDECOPI. 
3.115.  Investigations may be initiated at the instigation of the Technical Secretariat or following 
a complaint made to INDECOPI.139 Over the period 2008 to 2012, 31 proceedings were initiated 
following a complaint by a party and 15 ex officio. At the beginning of the proceedings, 
the Technical Secretariat may publish a note so that interested parties are apprised of the proceedings and may attend in person or provide information for the investigation. This note is 
published on INDECOPI's website, in El Peruano and in one of the leading national newspapers.
140 
3.116.  The authorities have indicated that, since the previous trade policy review, the CLC has 
reinforced its work on investigations and the p unishment of anti-competitive conduct, with the 
result that the number of proceedings initiated ex officio doubled from 2008 to 2012 (15) 
compared to 2003 to 2007 (8) and fines also increased from 305.60 UIT to 12,213.79 UIT between 
these two periods.141 
3.117.  Over the period 2008-2012, the CLC initiated 46 proceedings in various sectors, including 
the following: dairy produce and fuels; and financial, transport, health and construction services. 
During this period, 42% of the proceedings which concluded with penalties were initiated following a complaint by a party and the remainder ex officio. 
3.118.  The CLC (or the Tribunal) punishes anti-competitive conduct on the basis of the UIT
142; 
fines vary depending on the seriousness of the offence (Table 3.12). Repeat of the offence is deemed to be an aggravating circumstance and the penalty applicable may not be less than the previous penalty. In addition to penalties imposed for offences, the CLC may order remedial 
measures to restore competition.
143 Any offender that fails to comply with a precautionary 
or remedial measure imposed by  the Commission or the Tribunal automatically incurs a fine. 
If non-compliance persists, the Commission may impose a new, coercive fine, doubling the 
previous coercive fines imposed successively until the remedial measure ordered is implemented, 
with a limit of 16 times the amount of the coercive fine originally imposed. 
                                               
139 Administrative proceedings for the punishment of anti-competitive conduct initiated following 
a complaint by a party, a request for a precautionary me asure or to obtain prior authorization for business 
mergers in the electricity sector are described online at: http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=100 . The cost of the 
proceedings can be viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=101. 
140 Legislative Decree No. 1034 (Article 21.5). Information viewed online at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=2&JER=1163. 
141 In 2013, one UIT corresponded to S/.3,700. See information viewed online at: 
http://www.sunat.gob.pe/indicestasas/uit.html. 
142 The UIT in force on the actual date of payment of th e fine is used to calculat e the amount of the fine. 
143 Article 6 of Legislative Decree No. 1034. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table 3.12 Types of violation of competition 
Classification of the offencea Penalty 
Minor violation Fine of up to 500 UIT, provided that it does not exceed 8% of the sales 
or gross income received by the offe nder or its economic group, derived 
from all economic activities during th e fiscal year immediately preceding 
the issuance of the Commission's ruling.  
Serious violation Fine of up to 1,000 UIT, provided that it does not exceed 10% of the 
sales or gross income received by the offender or its economic group, 
derived from all economic activities during the fiscal year immediately 
preceding the issuance of the Commission's ruling.  
Extremely serious violation Fine of over 1,000 UIT, provided that it does not exceed 12% of the sales 
or gross income received by the offe nder or its econom ic group, derived 
from all economic activities during th e fiscal year immediately preceding 
the issuance of the Commission's ruling.  
a The criteria used to define the seriousness of the violation and the scale of the fine are defined 
in Article 44 of Legislative Decree No. 1034. 
Source: Legislative Decree No. 1034 of 25 June 2008. 
3.119.  Appeals against the CLC's final ruling may be made to the Tribunal by the accused, by the 
party making the complaint or by third parties attending the proceedings, within a period 
of 15 working days. The Technical Secretariat may also appeal against a ruling acquitting those 
investigated and against the fine imposed. If necessary and if all administrative channels at INDECOPI or OSIPTEL have been exhausted, an appeal may be made to the courts through the 
relevant administrative dispute procedure. 
3.120.  In 2008, in addition to the legislative texts regulating competition policy, the Law on the 
Suppression of Unfair Competition was also implemented, prohibiting and punishing acts of unfair 
competition, and violations of the rules governing commercial advertising.
144 This Law applies 
to all natural or legal persons offering or requesting goods or services or engaged in other economic activities in the market and applies to  any act that has effect in Peru, even if it 
originated abroad.
145 
3.121.  INDECOPI's Commission on the Control of Unfair Competition is empowered to implement 
this Law. It also issues guidelines in order to give guidance to economic operators and promote the proper functioning of the market so that fair competition generates well-being for all.
146 
The Commission has a Technical Secretariat, which is responsible for conducting investigations 
and, when necessary, for punishing acts of unfair competition.147 INDECOPI's Chamber for the 
Defence of Competition is responsible for reviewing challenges to rulings issued by the 
Commission or the Technical Secretariat at the second and last instances. The Tribunal may 
act ex officio.148 
3.122.  The following are some of the acts of unfair competition punished by the Commission: 
deception, confusion, taking undue advantage of another's reputation, vilification, undue 
comparison or assimilation, violation of business secrets, violation of rules and 
commercial sabotage.149 
3.123.  During the review period, the Commission on the Control of Unfair Competition and its 
Technical Secretariat initiated 826 proceedings ex officio, of which 93% were deemed to be 
founded, and imposed penalties and/or the necessary remedial measures to restore competition. In 2012, the majority of cases (60%) concerned th e alcoholic beverages industry and the health, 
tourism and education sectors.
150 The outcome of the investigations is notified in an INDECOPI 
                                               
144 Legislative Decree No. 1044 of 26 June 2008. 
145 Articles 3 and 4 of Legislative Decree No. 1044. 
146 Resolution No. 001-2001-LIN-CCD/INDECOPI (Guidelines on unfair competition 
and commercial advertising). 
147 Article 26 of Legislative Decree No. 1044. 
148 Article 27 of Legislative Decree No. 1044. 
149 Chapter II of Legislative Decree No. 1044 (Indicative list of acts). 
150 Online information from INDECOPI, viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=4&JER=327 , 
and Commission on the Control of Unfair Competition,  Quarterly Bulletin, December 2012, year 12, No. 34, 
viewed at: http://www.indecopi.gob.pe/repositorioaps/0/4/bol/ccd_boletin/Diciembre2012CCD.pdf. WT/TPR/S/289/Rev.1 • Peru 
 
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  ruling.151 Over the same period, the Commission dealt with 740 complaints by parties, mostly 
relating to the food and pharmaceutical industries, and the telecommunications and transport sectors. The Commission declared 42% of these to be founded. 
3.124.  The penalties determined by the Commission  depend on the practical impact of an act 
on the market, according to which the seriousness of the violation is measured (Table 3.13). 
In addition to the penalty imposed as a result of unfair competition, the Commission or Tribunal may determine remedial measures to restore fair competition in the market.
152 If these are not 
observed, coercive fines are imposed. 
Table 3.13 Types of unfai r competition violation 
Classification of the offencea Penalty 
Minor violation that has no 
practical impact on the market Warning  
Minor violation Fine of up to 50 UIT, which may no t exceed 10% of the offender's gross 
income, derived from all economic ac tivities during the fiscal year 
immediately preceding the issuance of the Commission's ruling.  
Serious violation Fine of up to 250 UIT, whic h may not exceed 10% of the offender's gross 
income, derived from all economic ac tivities during the fiscal year 
immediately preceding the issuance of the Commission's ruling.  
Extremely serious violation  Fine of up to 700 UIT, which may no t exceed 10% of the offender's gross 
income, derived from all economic ac tivities during the fiscal year 
immediately preceding the issuance of the Commission's ruling.  
a The criteria used to define the seriousness of the violation and the scale of the fine are defined 
in Article 52 of Legislative Decree No. 1044. 
Source: Legislative Decree No. 1044 of 26 June 2008. 
3.3.3.2  Protection of consumers 
3.125.  Special attention has been paid to protecting consumers since 2007 and this is reflected 
in the number of legal texts adopted by Peru gove rning this area, for example, the Code for the 
Protection and Defence of Consumers (Box 3.9).153 The Code applies to any consumer relations 
occurring throughout Peru. 
Box 3.9 Legal instruments regulating protection of consumers 
Legislation 
Law No. 29571 
Code for the Protection and Defence of Consumers 
Law No. 28587 
Law supplementing the Consumer Protection Law in relation to financial services  
Decrees 
Legislative Decree No. 1045 
Law supplementing the Cons umer Protection System 
Supreme Decrees 
Supreme Decree No. 046-2011-PCM 
Regulations on the consumer arbitration system referred to in Articles 137 to 144 of Law No. 29571, 
Code for the Protection an d Defence of Consumers.  
Supreme Decree No. 030-2011-PCM 
Regulations on judicial proceedings to protect the co llective interests of consumers and the Special Fund 
for Financing and Disseminat ing Consumers' Rights.  
                                               
151 INDECOPI's rulings can be viewed at: 
http://www.indecopi.gob.pe/0/modulos/PAR/PAR _ListarArchivos.aspx?PFL=4&GRU=100&VALTEM=0. 
152 Article 55 of Legislative Decree No. 1044 lists the types of remedial measure which the Commission 
or Tribunal may determine. 
153 Legislation, Directives and Guidelines, viewed at: 
http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?ARE=0&PFL=8&JER=198. WT/TPR/S/289/Rev.1 • Peru 
 
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  Supreme Decree No. 031-2011-PCM 
Regulations establishing the mechanisms for proposing and appointing representati ves of bodies and trade 
unions on the National Consumer Protection Council.  
Supreme Decree No. 032-2011-PCM 
Regulations on criteria for using the funds for operation of consumers' associations.  
Supreme Decree No. 029-2011-PCM 
Regulations on registration of violations and pe nalties set forth in the Code for the Protection 
and Defence of Consumers. 
Supreme Decree No. 011-2011-PCM 
Regulations on the complaints book of the Code  for the Protection and Defence of Consumers. 
Supreme Decree No. 110-2010-PCM 
Incorporation of summary proceedings for co nsumer protection in  INDECOPI's TUPA. 
Supreme Decree No. 006-2009-PCM 
Single Harmonized Text of the Law on the Consumer Protection System. 
Supreme Decree No. 039-2000-ITINCI 
Single Harmonized Text of Legislative Decree No. 716, Consumer Protection Law.  
Directives 
Directive No. 005-2010/DIR-COD-INDECOPI 
Rules on the decentralized competence of the comm issions attached to regional offices and other 
INDECOPI offices. 
Directive No. 004-2010/DIR-COD-INDECOPI 
Supplementary rules applicable to summary proceedings relating to consumer protection.  
Source: INDECOPI. 
3.126.  INDECOPI has primary responsibility for de aling with alleged violations of the provisions 
contained in the legislative texts protecting consumers, and for imposing the administrative 
penalties and remedial measures laid down in the regulations. For this task, it has the Commission 
for Consumer Protection (CPC). INDECOPI may, on its own initiative, commence penalty proceedings to protect consumers. It also supe rvises and oversees compliance with the legal 
obligations in order to guarantee the protection and defence of consumers. 
3.127.  INDECOPI is not empowered to resolve complaints and disputes arising between users 
and operators of public services: telecommunications, electricity, drinking water, sewage or transport services. The operator always intervenes in the first instance in these cases 
and, at second instance depending on the servic e concerned, OSIPTEL, the Supervisory Authority 
for Investment in Energy and Mining (OSINERG MIN), the National Supervisory Authority for 
Sanitation Services (SUNASS), or the Superv isory Authority for Investment in Public 
Transport Infrastructure (OSITRAN). 
3.128.  In order to reverse the effects of violations or prevent such conduct from recurring in the 
future, the CPC is empowered, inter alia, to seize and destroy goods, containers, 
wrapping and labels; to request temporary closure of the establishment for a maximum period 
of six months if the offence is extremely serious or is a repeat offence; to require payment of costs incurred by the consumer to alleviate the viol ation; to require the replacement or repair 
of products; to oblige the supplier to comply with  commitments and/or to reimburse the consumer 
if the product delivered or the service provided does not correspond to what has been expressly 
agreed by the parties. 
3.3.3.3  Price control 
3.129.  Peru does not in general impose price controls or price margins for goods. The rates for 
public telecommunications, energy, sanitation and infrastructure services, however, are still controlled by special regulatory agencies. In addi tion, the rate for transporting LPG by pipeline 
is determined according to the regulations a pproved by the Ministry of Energy and Mining
154 
                                               
154 Regulations on the marketing of liquefied  petroleum gas, Supreme Decree No. 01-94-EM. WT/TPR/S/289/Rev.1 • Peru 
 
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  and for reasons of national interest and public necessity the State may fix minimum and maximum 
rates for national or international air transport.155 
3.130.  The Price Stabilization Fund for petroleum-based fuels was created in 2004 to prevent 
sharp fluctuations in the international price of oil and its byproducts from being passed 
on to consumers in the domestic market.156 Because of the sustained increase in the average 
international price of oil, this mechanism gradually built up sizeable obligations towards fuel producers and importers, which the State had to fulfil. Consequently, from 2012 onwards, in order 
to mitigate the impact of the Fund's debts on the treasury, measures were taken to steer the 
Fund's benefits to the sectors most affected by the volatility of international fuel prices. Certain products were therefore excluded from th e Fund's list. Some products such as LPG also 
received differential treatment so as to help th e poorest sectors of the population, which use LPG 
in bottles with a net content of up to 10 kg.
157 
3.131.  The 1991 Law on the Promotion of Investme nt in the Agricultural Sector provides for 
the creation of a price stabilization mechanism to promote efficient production and correct 
distortions in the supply of imported like products that have been subsidized in their countries 
of origin158, although the mechanism has never been set up.159 
3.3.4  State trading, State-owne d enterprises and privatization 
3.132.  During the period 2005-2012, Peru did not have any State-trading enterprises within the 
meaning of Article XVII of the GATT 1994 an d paragraph 1 of the Understanding on the 
Interpretation of Article XVII.160 
3.133.  The State's presence in business activities in Peru has continued to decline. At the end 
of 2012, 14 State-owned enterprises were being wound up or had been merged or privatized.161 
In 2012, the State had holdings in 31 enterprises, most of them in the electricity sector (Table A3.3). 
3.3.5  Government procurement 
3.134.  The legal framework for government procur ement is mainly covered by Peru's Political 
Constitution and the Government Procurement Law of 2009, its implementing Regulations, 
and amendments thereto, the latest in 2012.
162 The Constitution stipulates that works, 
the purchase of supplies and the purchase or disp osal of goods using public funds must be the 
subject of a procurement or public bidding procedure.163 The Government Procurement Law 
applies to procurement by government agencies in  order to obtain goods, services or works. 
There are nevertheless exceptions to this Law, which does not apply to the procurement of certain 
services such as audits, legal or financial advice or the services of public notaries; banking or financial contracts; or the procurement of legal services required for the State's 
defence in international investment disputes in arbitral or judicial forums.
164 Procurement with 
                                               
155 WTO (2007). 
156 Emergency Decree No. 010-2004 of 15 September 2004, and Emergency Decree No. 027-2010 
of 22 April 2010. 
157 Emergency Decree No. 005-2012 of 21 February 2012. 
158 Article 72 of Legislative Decree No. 653 of 7 January 1991. 
159 Information provided by the authorities. 
160 WTO documents: G/STR/N/11/PER, G/STR/N/ 12/PER, G/STR/N/13/PER and G/STR/N/14/PER 
of 5 March 2013. 
161 The following are the companies being wound up: Almacenes de Depósito Kolkandina S.A.; 
Compañía de Negociaciones Mobiliarias e Inmobiliar ias S.A.; Banco de Materiales S.A.C.; Empresa de 
Transmisión Eléctrica Centro Norte S.A.; Sociedad Para monga Limitada S.A.; Banco de la Vivienda del Perú; 
Empresa Nacional de Edificaciones; Empresa Nacional de Ferrocarriles S.A.; Empres a Nacional Pesquera S.A.; 
Empresa Minera del Centro del Perú S.A.; and Zipesa. The Empresa de Generación de Energía Eléctrica del 
Centro S.A. was merged with Activo s Mineros in 2009. The Empresa Inmobiliaria Milenia S.A. was privatized 
in December 2010 and Industria Aeronáutica del Perú S.A. was wound up in 2012 (information provided by 
the authorities). 
162 Legislative Decree No. 1017 of 1 January 2009 (Government Procurement Law) and Law No. 29873 
of 20 September 2012, Supreme Decree No. 184-2008-EF (implementing Regulations of the Government 
Procurement Law) of 1 January 2009. 
163 Article 76 of Peru's Political Constitution. 
164 Article 3.3 of the Government Procurement Law and Law No. 28933 of 4 November 2009. WT/TPR/S/289/Rev.1 • Peru 
 
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  a value ranging between S/.0 and 3 UIT also remains outside the scope of the Law. In addition, 
there are special laws regulating government procurement in certain areas and procurement by entities or companies such as PETROPERÚ
165, PROINVERSIÓN166 and Peru's Municipal Savings 
and Loan Funds.167 
3.135.  MINEF still lays down the rules and guidelines for government procurement, taking into 
account the overall objectives of government procurement policy, which include achieving a better quality-price ratio, encouraging competition, and reinforcing control mechanisms .
168 
The Supervisory Authority for Government Procurement (OSCE), created in 2009169, oversees 
and supervises (selectively and/or randomly) procurement processes and issues directives 
pursuant to the Government Procurement Law. It is also responsible for replying to queries and furnishing information on government procurement procedures; administering the National 
Register of Suppliers (RNP) and the Electronic Government Procurement System (SEACE); 
and settling disputes arising during selection pr ocedures, dealing with complaints and imposing 
sanctions. The Government Procurement Tribunal is a body with decisional power that forms part 
of the OSCE's administrative structure and enjoys full autonomy and independence in the exercise 
of its functions. It is in charge of settling disputes arising between agencies, participants and bidders during the selection process and applying temporary or definitive ineligibility sanctions 
to suppliers, participants, bidders, contractors, arbitrators or independent experts, as the case 
may be.
170 
3.136.  In order to take part as a bidder or contractor in government procurement in Peru, 
the candidate must be registered as a government supplier in the RNP, which is published 
on the OSCE's website. Both Peruvians and foreigners may register. Bidders or contractors for 
public works are given a maximum procurement capa city calculated according to their registered 
paid-up capital in Peru and their experience. Lega l persons not established in Peru and with no 
registered capital in the country are given a maximum procurement capacity according to the 
amount of capital actually deposited in a Peruvian financial entity. This requirement does not apply to foreign companies registered in countries with which Peru has signed an international treaty 
that includes provisions on government procurement or to MSEs.
171 
3.137.  The new Government Procurement Law determines the procedures for selection according 
to specific thresholds (Chart 3.2). The procedures are as follows: public bidding, public competition, direct award of a contract or small contract award, which may involve 
corporate procurement or selection criteria for reverse auctions or framework agreements.
172 
 
                                               
165 Law No. 28840 of 19 July 2006. 
166 Legislative Decree No. 674 of 27 September 1991, Supreme Decree No. 059-96-PCM 
of 27 December 1996, and Legislative Decree No. 1012 of 13 May 2008. 
167 Law No. 29523 of 1 May 2010. 
168 Ministerial Resolution No. 223-2011-EF/43 of 30 March 2011. 
169 Legislative Decree No. 1017 of 1 January 2009 (Government Procurement Law). 
170 Article 63 of the Government Procurement Law. 
171 Since 2007, Peru has had trade agreements cont aining a chapter on government procurement 
in force with Canada; Costa Rica; EFTA; the European  Union; Japan; the Republic of Korea; Panama; 
Singapore; and the United States. 
172 Article 15 of the Government Procurement Law. WT/TPR/S/289/Rev.1 • Peru 
 
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  Chart 3.2 Selection procedures according to thresholds, 2012  
Public bidding 
(LP) 
Public direct 
award 
(ADP) 
Selective direct 
award 
(ADS) 
Small contract 
award Public bidding 
(LP) 
Public direct 
award 
(ADP) 
Selective direct 
award 
(ADS) Public 
competition 
(CP) 
Public direct 
award 
(ADP)  
Selective direct 
award 
(ADS) 
Small contract 
award Small contract 
award WORKS 
GOODS SERVICES  S/.1,800,000a 
(US$706,000) 
S/.900,000  
(US$353,000)  
S/.180,000  
(US$71,000)  S/.400,000
(US$157,000)  S/.400,000(US$157,000) 
S/.200,000(US$78,000) S/.200,000
(US$78,000)  
S/.40,000
(US$16,000)  S/.40,000  
(US$16,000)  
S/.11,100b 
(US$4,000)  S/.11,100
(US$4,000)  S/.11,100  
(US$4,000)  
 
 
a Exchange rate S/.2.55/US$. 
b Procurement amounting to S/.0 to S/.11, 100 is outside the scope of the Government 
Procurement Law. 
Source: Government Procurement Law and amendments thereto. 
3.138.  The Government Procurement Law allows for certain exceptions to enable government 
authorities to procure goods, services and work s without the need to go through a selection 
procedure. The exceptions are: contracts between government authorities; when supplies are 
short or there is an emergency; when there is  a single supplier of goods or services that 
is impossible to replace; procurement by the Arme d Forces or of a secret nature; and services 
provided by natural persons, with due objective substantiation.173 
3.139.  Procurement of goods or services or the execution of works may not be split up in order 
to avoid any type of selection procedure or applic ation of the rules by awarding contracts for less 
than three UIT (or S/.11,100). The Law does not co nsider procurement to be divided up in the 
case of stages, tranches, packages or lots when  this is possible because of the nature of the 
subject matter, or when a contract is broken down  in order to encourage the participation of MSEs 
in those economic sectors where there is a competitive offer. 
3.140.  Practices that affect any contest and/or competition in procurement are also prohibited, 
notably agreements not to take part or not to present proposals in procurement procedures.174 
If the Government Procurement Tribunal identifies any conduct that might constitute an anti-competitive practice, it informs INDECOPI accordingly so that the latter, through its 
competent bodies and when appropriate, can initiate the corresponding penalty proceedings 
and determine where responsibility lies. If INDECOPI finds that there has been a violation, the OSCE enters the offenders in the register of those ineligible for government procurement. 
3.141.  Since 2012, State bodies have been required to use the electronic government 
procurement system (SEACE). Procurement usin g the small contract award procedure must 
be carried out electronically through the SEACE for the procurement of services (optional for the 
                                               
173 Article 20 of the Government Procurement Law. 
174 Article 11 of the Government Procurement Law. WT/TPR/S/289/Rev.1 • Peru 
 
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  procurement of goods); however, the bodies concerned have to register their procurement for 
amounts of one to three UIT each month.175 
3.142.  Despite the global financial crisis, govern ment procurement over the past three years has 
ranged from S/.29,000 to S/.34 billion, corresponding to 6.4% of GDP in 2012 (Chart 3.3). 
3.143.  Peru still a pplies certain preferences and special go vernment procurement schemes for the 
benefit of local or regional producers and SMES. Pursuant to the Regulations implementing the Government Procurement Law, for procurement of works or services to be executed or supplied 
outside the provinces of Lima and Callao with contracts awarded according to the ADS and small 
contract (AMC) procedures, a preference of 10% is given on the amount of the technical and economic proposal of bidders domiciled in the prov ince where the work is to be carried out or the 
service supplied, or in neighbouring provinces.
176 
3.144.  All social support and food security  programmes implemented by the State follow 
a streamlined procedure for the procurement of loca l or regional food products from individual 
producers and/or agribusiness SMEs which use inputs produced in the zone.177 
3.145.  There is also a preference scheme for MSEs. If bids using the ADS or AMC procedures 
are equal, an order of preference is established for awarding the contract, giving priority to: (i) MSEs composed of disabled persons or asso ciations composed entirely of such enterprises; 
(ii) MSEs in general or associations composed entirely of such enterprises; and (iii) other 
enterprises. For regular contracts for the supply of goods or services, and for contracts for carrying out works or consultancy services for works, MSEs  may deposit security of 10% of the contract, 
which is held by the government authority, instead of presenting a letter of guarantee for the 
amount. Government institutions must also plan for no less than 40% of their procurement to be 
awarded to MSEs and give preference to region al or local MSEs in the place where the goods 
are procured.
178 According to the authorities, the above is not provided for in the Government 
Procurement Law, which repeals the other regulations that conflict with its provisions. 
3.146.  Special programmes have also been put in place to promote the participation of SMEs 
in government procurement, for example, the "Compras a MYPErú" programme, implemented 
by FONCODES, which encourages the purchase by the State of footwear, textiles and clothing 
made by MSEs in various regions of Peru.179 For 2012, this programme had a budget 
of S/.381.5 million to finance the production and purchase of school uniforms, track suits and footwear for pre-school and primary school pupils, as well as uniforms, clothing and various 
accessories for the National Police Force, the Army, the Air Force and the Navy.
180 
                                               
175 Article 68 of the Government Procurement Law. 
176 Article 71 of the Government Procurement Law. 
177 Law No. 27060 of 6 February 1999 and Law No. 29367 of 28 May 2009. 
178 Article 21 of Law No. 28015 of 3 July 2003. 
179 Emergency Decree No. 058-2011 of 26 October 2011, which provides emergency and special 
economic and financial measures to promote the dynamism of the domestic economy; its validity was extended 
by Law No. 29951 of 4 December 2012 (Finance Law for the Fiscal Year 2013). 
180 FONCODES "Compras a MYPErú" programme, information viewed online at: 
http://www.foncodes.gob. pe/portal/index.php/nosotros/quienes-somos. WT/TPR/S/289/Rev.1 • Peru 
 
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  Chart 3.3 Trend in government procurement according to subject matter, 2007-2012 
(S/. billion and %) 
051015202530354045
2007 2008 2009 2010 2011 2012Goods Works Servicesa15.535.941.1
30.3
28.933.8
39.6 %
33.7 %
26.6 %
 
a Including consultancy for works. 
Source: Information provided by the authorities. 
3.3.6  Trade-related intellectual property rights 
3.3.6.1  Institutional framework 
3.147.  INDECOPI is responsible for implementing the legal texts designed to protect intellectual 
property rights.181 It currently has three directorates to perform this task: 
the Copyright Directorate (DDA) for matters relating to copyright and related rights182; 
the Distinctive Signs Directorate (DSD) for matters relating to trademarks, trade names 
and slogans, collective marks, certification marks and appellations of origin; and the Inventions and New Technologies Directorate (DIN) for ma tters relating to patents, utility models, 
industrial designs, protected plant varieties, traditional knowledge and other new technologies.
183 
3.148.  The DDA, DSD and DIN coordinate the application of, and monitor compliance with, 
the national and international commitments on intellectual property rights within their spheres of competence. These Directorates are the first administrative instance for dispute or other 
proceedings brought following a complaint by a party or ex officio. The administrative rulings 
implemented by these INDECOPI Directorates cover opposition (to use or registration); annulment of registration for non-use or dissemination, or because the subject matter is well known to the 
public or its registration is invalid; proceedings for unfair competition relating to registered 
distinctive signs; and proceedings for infringeme nt of industrial property rights. Appeals may 
be made against rulings by these Directorates to the Special Intellectual Property Chamber of the INDECOPI Tribunal, which is a body independen t of the DDA, DSD and DIN, and is the second 
and final administrative instance of appeal for intellectual property matters. The Chamber may 
establish precedents that must be followed, by means of rulings and administrative decisions, but it is not a judicial authority and appeals against its decisions may be made to the courts. 
                                               
181 Decree Law No. 25868 of 18 November 1992 and amendments thereto (Law on the Organization 
and Functions of the National Institute for the Defence of Competition and the Protection of Intellectual 
Property - INDECOPI). 
182 Legislative Decree No. 1033 of 25 August 2008. 
183 Idem.  WT/TPR/S/289/Rev.1 • Peru 
 
- 67 - 
 
  3.149.  The Fiscal Police Directorate, through the Division for Investigation of Offences against 
Intellectual Property Rights, has the task of combating offences against copyright and related rights and against industrial property when goods are produced making unauthorized use of patents or reproduction of industrial designs, or a trademark is imitated or unlawfully used.
184 
SUNAT applies border measures such as suspension  of clearance of goods allegedly counterfeited, 
pirated or misleadingly similar, pursuant to the legislation on protection of copyright and related 
rights and trademark rights. 
3.3.6.2  Legal framework 
3.150.  Peru's legal framework for intellectual property comprises its domestic legislation, 
multilateral and CAN legal texts and the preferen tial agreements Peru has signed. The Agreement 
on Trade-Related Aspects of Intellectual Prop erty Rights (TRIPS), together with other 
WTO Agreements, has been incorporated into Peru's domestic legislation and may be invoked 
before its courts. CAN's legal texts are also directly applicable and are supranational in Peru. 
3.151.  Peru's legislation covers all types of intellectual property rights mentioned in the 
TRIPS Agreement and contains provisions on enforcement. During the period under review, 
several legal texts concerning various types of intellectual property rights and enforcement were adopted or amended.
185 Peru attaches great importance to the protection of traditional knowledge, 
access to genetic resources and the protection of biological diversity. These requirements have 
been incorporated into Peru's legislation since 1996, and into CAN legislation, through 
Decision No. 391, which establishes a common regime for access to genetic resources, and Decision No. 486.
186 Peru also has provisions to prevent anti-competitive practices 
in contractual licences concerning intellectual property rights. In some cases, for example, 
copyright and related rights and industrial property, Peru grants a level of protection that is higher 
than that specified in the multilateral texts; this is partly attributable to the 
amendments introduced into domestic legislation following the signature of certain regional 
agreements (see below). 
3.3.6.3  Participation in the WTO 
3.152.  Peru provided information on its domestic enforcement system in 2000.187 
The TRIPS Council reviewed this legislation in 2001.188 In 2010, Peru notified the WTO of many 
of the legal texts on intellectual property adopted or amended in recent years.189 Peru has not yet 
accepted the Protocol amending the TRIPS Agreement, intended to confirm the decision taken 
by Members in 2003 to establish the system provid ed for by paragraph 6 of the Doha Declaration 
on the TRIPS Agreement and Public Health. According to the authorities, however, the draft instrument of ratification is bein g processed for approval and enactment by the 
President of the Republic. 
3.153.  In the Doha Round, Peru was one of the ma in sponsors of various reforms relating to the 
protection of intellectual property rights. Together with other Members, it put forward proposals 
on issues such as the patent system, in order to incorporate the requirement to disclose the origin 
of genetic resources and traditional knowledge.
190 For Peru, protection of biodiversity under the 
                                               
184 Information on operations, seizure and other action  by the Fiscal Police, available on its website, 
viewed at: http://www.pnp.gob.pe/direcciones/dirpofis/inicio.html . 
185 Legislative Decree No. 1076 of 27 July 2008 (amending Legislative Decree No. 822), Copyright Law 
incorporating new definitions, Law No. 29316 of 13 January 2009, Law amending, incorporating and regulating various matters relating to implementation of the Trade Promotion Agreement between Peru and the United States, Legislative Decree No. 1072 of 26 June 2008, Protection of test data and other undisclosed data on pharmaceutical products, Supreme Decree No. 002-2009-SA of 17 January 2009, regulations implementing Legislative Decree No. 1072, General Health Law, Law No. 29316 of 13 January 2009 
amending provisions in Law No. 27811, Legislative Decree No. 1092 approving border measures to protect copyright or related rights and trademark rights and its implem enting regulations 
in Supreme Decree No. 003-2009-EF. 
186 WTO document IP/C/W/493 of 19 September 2007. 
187 WTO document IP/N/6/PER/1 of 16 August 2000. 
188 WTO documents IP/Q/PER/1, IP/Q2/PER/1, IP/Q3/PER/1, IP/Q4/PER/1 of 12 June 2001. 
189 WTO document IP/N/1/PER/U/3 of 13 August 2010. 
190 WTO documents TN/C/W/52 of 19 July 2008, WT/GC/W/590 of 28 May 2008 and TN/C/W/59 
of 19 April 2011. WT/TPR/S/289/Rev.1 • Peru 
 
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  patent regime in the TRIPS Agreement is a priority issue and it has therefore sought 
to demonstrate that the current regime does not allow proper protection of its genetic resources and the traditional knowledge of its indigenous communities.
191 In this connection, Peru considers 
that a legal obligation establishing a mandatory disclosure requirement for patent applications 
would help to prevent both misappropriation of genetic resources and the wrongful grant 
of patents and would also enhance transparency regarding the utilization of genetic resources and/or associated traditional knowledge.
192 In the international sphere, Peru has also presented 
proposals on the need to link the patent system to the regime for access to genetic resources 
and protection of traditional knowledge in the Convention on Biological Diversity (CBD), WIPO and in other forums (including regional processes).
193 
3.3.6.4  Participation in other international initiatives 
3.154.  Peru has signed 15 of the treaties administered by the World Intellectual Property 
Organization (WIPO).194 Since the previous trade policy review in 2007, Peru has acceded to four 
of these treaties: the Budapest Treaty (Oct ober 2008), the Patent Cooperation Treaty 
(March 2009), the Trademark Law Treaty (August 2009) and the UPOV Convention (July 2011). 
In June 2012, Peru signed the Beijing Treaty on Audiovisual Performances and, according to information provided by the authorities, it is being ratified. 
3.155.  Peru has also undertaken commitments to protect intellectual property in the regional 
agreements it has signed since 2007 (Table A2.2).  One of the most important of these agreements 
is that of the CAN, which establishes a common regi me for different forms of intellectual property 
rights and constitutes an essential framework of reference for the regime on the protection of such 
rights in Peru. The CAN nonetheless allows its members to adopt their own internal legislation 
on the protection of industrial property
195, which is why Peru adopted internal legislation during 
the review period amending certain aspects of its industrial property regime. 
3.156.  The commitments made by Peru in its Trade Promotion Agreement with the United States 
were the reason for many of the changes in Peru's  intellectual property regime during the review 
period.196 These include reforms concerning infringement of intellectual property rights, copyright 
and related rights, manufacturers' marks or trad emarks, patents and protection of test data, 
and the application of border measures. Further to the agreement with the United States, Peru also undertook to accede to several of the treaties administered by WIPO. 
3.157.  The trade agreement between Colombia and Peru and the European Union also contains 
several provisions on intellectual property, some of them related to public health. One distinctive 
feature of this agreement is that it covers geographical indications, traditional knowledge and genetic resources; the lists annexed to the agreement include four geographical indications for 
Peru and 115 for the European Union.
197 The agreements with China, Costa Rica, EFTA, Japan, 
the Republic of Korea, Mexico, Panama and Singapore also include provisions on intellectual property rights. The provisions vary depending on the agreement, but generally include 
substantive rules for all categories of intellectual property and enforcement procedures; 
they also determine a level of intellectual property protection that is higher than that in the TRIPS Agreement. 
 
                                               
191 WTO document WT/MIN(09)/ST/83 of 2 December 2009. 
192 WTO document TN/C/W/59 of 19 April 2011. 
193 WTO document IP/C/W/493 of 19 September 2007. 
194 Including the WIPO Convention. The treaties signed by Peru can be viewed at: 
http://www.wipo.int/treaties/en/ShowResults.jsp?co untry_id=137C&start_year=ANY&end_year=ANY&search_
what=C&treaty_all=ALL . 
195 Decision No. 598 of the Commission of the Andean  Community, Trade relations with third countries, 
of 11 July 2004, and Decision No. 689 of the Commission  of the Andean Community, Adaptation of certain 
articles of Decision No. 486 - Common Industrial Property Regime, in order to allow the development and strengthening of industrial prop erty rights through the internal legislation of member countries, 
of 13 August 2008. 
196 Law No. 29316 of 13 January 2009, Law amending, incorporating and regulating various provisions 
in order to implement the Trade Promotion Agreement between Peru and the United States. 
197 The geographical indications in Peru's list are: Maíz Blanco Gigante Cusco (maize), Pallar de Ica 
(cereal), Pisco (spirits) and Chulucanas (ceramics). WT/TPR/S/289/Rev.1 • Peru 
 
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  4  TRADE POLICIES BY SECTOR 
4.1  Agricultural sector 4.1.1  General features and policy objectives 4.1.  Peru has a relatively large and diversified agricultural sector. During 2007-2012, 
agricultural GDP (including hunting and forestry but excluding fishing) grew at an average annual 
rate of 4.7%. In 2012, the sector contributed 7.2% of total GDP, provided employment for 
almost one third of the economically active population (EAP)
1 and accounted for a significant 
proportion of total merchandise exports (Table A1.1). 
4.2.  Peru is a net exporter of agricultural prod ucts. During the review period, exports of products 
such as coffee, asparagus, grapes and mangos grew strongly. The main products for the domestic market are rice, potatoes, starchy maize, wheat and bananas. Agricultural imports are basically 
inputs for feeding poultry and cattle (yellow maize, soya, etc.) and inputs for producing pasta 
(mainly wheat). 
4.3.  The arable area amounts to about 4.5 million hectares
2, of which four fifths is used for 
growing transitory crops and the rest for fruit farming. Poultry and bovine animals account 
for two thirds of the gross value of livestock production. Forestry is one of Peru's most important renewable resources, with almost 80 million hectares of natural forests (including those 
of the Amazon) covering around 56% of its territory. 
4.4.  About two thirds of Peru's farmers live in  its poorest region, the highlands of the Sierra. 
The land is mainly held by small farmers, about three quarters of whom have legal title.
3 
Two features that have characterized rural households in recent years are the diversification 
of their economic activities4 and migration to other areas in search of opportunities to increase 
their income.5 Migration has led to a steady increase in  the number of abandoned plots in small 
rural communities. 
4.5.  In general, the competitiveness and profitability of Peru's agricultural sector are low, 
a reflection of various problems such as the rural infrastructure deficit6; the producers' limited 
access to markets, information and finance; insufficient investment; an inappropriate tax system; 
and the fragmentation/dispersion of ownership. The average size of an agricultural unit in Peru 
is 3.1 hectares, distributed among approximately 3. 3 plots. The dwarf holdings largely explain the 
low profitability, due to their limited capacity to  provide the advantages of economies of scale 
to minimize costs; they are also one of the factors limiting access to credit, as well as investment 
in new technology and the accumulation of capital. Likewise, the atomization of agriculture is an 
obstacle to efficient marketing, since the volume produced is small and scattered. 
4.6.  Another constraint on the sector's development is inefficient water management due 
to factors such as seepage from canals, poor maintenance of the irrigation infrastructure, 
the excessive use of water resources and the loss of reservoirs through sedimentation. 
                                               
1 According to Ministry of Agriculture figures, in 2012 the agricultural sector had an EAP of 4.8 million, 
with 84% living in rural areas an d the rest in urban districts. 
2 According to the 2012 Agricultural Census. 
3 In 2009, around 77% of individual rural ho ldings had been registered and formalized, 
84% of small-farming communities recognized and 70% of indigenous comm unities awarded titles. 
However, around one third of indigenous communities are involved in land disputes and a large percentage of unrecognized small-farming communities are expe riencing demarcation prob lems. Peru Opportunity 
Fund (2011). 
4 Peruvian agrarian households are not devoted ex clusively to agriculture, but also engage in 
independent commercial activi ties and do not participate completely in  the agricultural market either for the 
sale of their produce or fo r the purchase of inputs. 
5 Younger people account for much of the migration from the country to the cities, which has led to the 
so-called "aging of the countryside", where children and elderly farmers predominate. 
6 In general, Peru lacks, amon g other things, roads,  reservoirs, irrigation canals, drainage, 
telecommunications, energy, and breed ing laboratories. As compared with other countries in the region, 
Peru has a poorly developed road system, which offers access to only  30% of the national population 
and 90% of the country's urban centres. Moreover, much  of the network is in bad condition, a situation 
aggravated by the ruggedness of the te rrain and frequent natural disasters. WT/TPR/S/289/Rev.1 • Peru 
 
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  In July 2012, it was estimated that only 22.5% of Sierra agriculture benefits from modern 
irrigation. Sowing is directly affected by rainfall dependence, which is one of the sector's main weaknesses.
7 
4.7.  In Peru, agriculture is divided into four types depending on the technological level and the 
ability of the farmers to access services and markets (Table 4.1). 
Table 4.1 Types of agriculture 
Type Measures 
Subsistence farming (families)  Better sanitary conditions. 
 Link-up with local markets. 
Conservation of natural resources. 
Small rural businesses (families)  Promotion of association and rural management. 
 Link-up with regional markets. 
Access to the market for innovation services.  
Commercial farming (small and 
medium-sized producer associations)  Promotion of association and rural management. 
 Link-up with regional and export markets. 
Access to the market for innovation services. 
Agro-exports and intensive farming 
(corporate producers)  Agricultural health. 
 Food safety. 
Link-up with new international markets. 
Source: MINAG (2012) Multi-Annual Strategic Sector Plan for Agri culture 2012-2016, Lima. 
4.8.  The Ministry of Agriculture and Irrigation (MINAGRI) designs, establishes, implements, 
supervises and monitors compliance with agricultural sector policy at all levels of government.8 
Agricultural policy seeks to promote modernization of the sector and to improve the living conditions of farmers and the rural population. Under the Multi-Annual Strategic Sector 
Plan 2012-2016, MINAGRI is targeting annual growth of  5% and 20% for the sector and for 
agricultural exports, respectively, during the period in question and reductions in rural poverty from 54% to 35% and in poverty among agricultural producers from 57% to 40%. 
The measures for achieving these goals include: doubling the amount of financing 
from S/.3.8 billion to S/.7.6 billion; incorporating technologies to give value added to 1,200 production innovation initiatives; controlling priority pests and diseases (fruit fly, 
foot-and-mouth disease, swine fever, avian infl uenza); reducing the deforestation rate by 10%; 
improving the efficiency of water use for irrigation  purposes by 50%; increasing food availability 
by 5% a year; and incorporating 735,000 producers into the market.
9 
4.1.2  Border measures 
4.9.  The average MFN tariff applied to the agricu ltural sector (WTO definition) fell from 12.9% 
in 2007 to 3.9% in 2013 (Table 3.1). Tariff protection is highest (6.3%) for coffee and tea (Table A4.1). 
4.10.  One of the reasons for the fall in the MFN tariff applied to the agricultural sector was the 
abolition of the 20% rate, which primarily affected agricultural products such as meat, dairy products, fruit and vegetables, cereals and food preparations (section 3.1.4).
10 In addition, the 5% 
tariff surcharges applied to 392 tariff lines at ten-digit level, most of which corresponded to 
products classified in Harmonized System (HS) chapters 1 to 24, were removed in 2007-2008 (section 3.1.5). 
4.11.  Peru maintains specific tariffs derived from the application of the "price band system" 
to 47 ten-digit subheadings of the HS 2012 for fo ur groups of products: rice, sugar, maize 
and dairy products (section 3.1.4). In some of Peru's regional trade agreements only 
                                               
7 In Peru, almost half the crops are planted between October and December since the rainy season 
in the Sierra extends from December to March. 
8 Law No. 30048, published on 25 June 2013, amended the organization and functions of the Ministry 
of Agriculture (MINAG), which is now called the Ministry of Agriculture and Irrigation. 
9 Ministry of Agriculture (2012). 
10 The 20% rate was abolished between 2007 and 2008 by Supreme Decree No. 158-2007-EF, 
published on 13 October 2007, and Supreme Decree No. 0388-2008-EF, published on 7 March 2008. WT/TPR/S/289/Rev.1 • Peru 
 
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  the ad valorem  component for these subheadings has been removed, while the specific tariff of the 
price band system has been maintained (Table A2.2).11 
4.12.  If the tariffs that result from the app lication of the price band system are taken into 
account, for the period January-May 2013 Peru's applied MFN tariff reportedly reach rates of more 
than 20% for sugar and some dairy products and as much as 55.7% for other dairy products. 
This corresponds to an increase in the average protection for agricultural products from 3.9% to 4.3% (Table 3.2). 
4.13.  Peru has bound the tariff for agricultural  products at between 30% and 68%. The 68% rate 
corresponds to some dairy products, cereals and preparations, and sugars and sugar confectionery (section 3.1.4.1). 
4.14.  As Peru did not include any product in Section I-B of its Schedule of Commitments, it is not 
entitled to apply tariff quotas within the framework of the WTO. 
4.1.3  Other measures 4.15.  In 2012, central and regional governme nt budgetary spending on the agricultural 
sector totalled S/.1,117 million.
12 The tax concessions accorded to the sector amounted 
to S/.1,885 million in 2012, as compared with S/.1,214 million in 2007.13 
4.16.  Peru has notified the WTO that between 2003 and 2012 it did not grant any export subsidies 
for agricultural products.14 In its latest notification concerning domestic support, 
Peru indicates that during the period 1999-2003 it used, inter alia , the National Programme for 
Managing Catchment Areas and Soil Conservation (PRONAMACHCS) and the Cooperation for Social Development Fund (FONCODES).
15 
4.17.  PRONAMACHCS is intended to support the High Andean regions (above 2,500 m) and small 
farmers in a state of poverty or extreme povert y by subsidizing agricultural inputs. FONCODES 
is a national programme operated by the Ministry  of Development and Social Inclusion (MIDIS), 
the purpose of which is to generate greater sustainable economic opportunities for rural 
households in extreme poverty. Under FONCOD ES, projects are also being implemented to 
improve food security, rural family incomes and irrigation system maintenance.16 
4.18.  In 2008, the National Water Authority (ANA) was set up to serve as the governing body and 
highest technical and regulatory authority of the General Water Resources Management System. The ANA, which is attached to MINAGRI, is charged with administering, conserving, protecting and sustainably developing the water resources of the country's various basins.
17 
4.19.  In 2008 AGRORURAL, the main agricultural support programme, was established for the 
purpose of organizing and implementing public investment projects designed to improve the living and working conditions of rural families by generating agricultural businesses and development 
projects that integrate farmers into the market.
18 To this end, AGRORURAL merged the following 
programmes19: the Southern Sierra Natural Resources Management Programme (MARENASS), 
the Special Project to Promote the Use of Fertiliz er from Seabirds (PROABONOS), the Rural Market 
Access Support Services Programme (PROSAAMER) and the National Programme for Managing 
Catchment Areas and Soil Conservation (PRONAMACHCS). At present, the Programme also includes the ALIADOS Project, the Northern Sie rra Project and the Southern Sierra Project. 
Table 4.2 describes MINAGRI's principal programme s and those of Peru's agricultural public 
sector bodies. 
                                               
11 For a detailed description of the price band system see: WTO (2007). 
12 Data provided by the Ministry of the Economy and Finance. 
13 Estimate from SUNAT's Fiscal Expenditure Report 2012. 
14 WTO documents G/AG/N/PER/7 of 28 July 2010, G/AG/N/PER/9 of 5 October 2011, G/AG/N/PER/10 
of 20 November 2012 and G/AG/N/PER/11 of 8 July 2013. 
15 WTO document G/AG/N/PER/8 of 21 October 2010. 
16 Information viewed online at: http://www.foncodes.gob.pe/portal/index.php . 
17 The ANA was established by Legislative Decree No. 997 of 12 March 2008. 
18 Established by Legislative Decree No. 997. 
19 Supreme Decree No. 014-2008-AG. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table 4.2 Principal agricultural programmes and institutions, 2013 
Programme/institution Description Budget 2013, starting date 
and geographical coverage 
Ministry of Agriculture  
Rural Agricultural Production 
Development Programme 
(AGRORURAL) Public investment pr ojects for improving 
rural living conditions by generating 
agricultural businesses and rural 
development projects S/.223.7 million 
Starting date: 2008 
At national level 
National Agrarian Health 
Service (SENASA) National authority for agricultural health, 
seeds and organic farming S/.241.8 million  
Starting date: 1995 At national level 
Subsector Irrigation 
Programme (PSI) Promotes the comprehensive 
and sustainable development 
of irrigation systems S/.208 million  
Starting date: 2006 
At national level 
National Agrarian Innovation 
Institute (INIA) Permanently and sustainably incorporates 
technological advances as an agricultural growth strategy S/.61.1 million  
Starting date: 2008 At national level 
National Water Authority (ANA) Administers, conserves and protects water 
resources in the catchment basins 
to ensure their sustainable development S/.158.5 million  
Starting date: 2008 
At national level 
Payments for Competitiveness 
Programme (PCC) Improves the competitiveness of small 
and medium-scale farmers engaged in crop or livestock farming in sustainable production units S/.42 million 
Starting date: 2009-2014 At national level 
Other agricultural public sector institutions 
My Enterprising Small Farm  
(Mi Chacra Emprendedora ) Improves the production capacity of rural 
families in extreme poverty to enable them to overcome food insecurity S/.66.4 million  
Starting date: 2009-2012 Huancavelica, Ayacucho, Apurímac and Cusco 
Exporting Sierra  
(Sierra Exportadora )  Promotes and develops productive 
economic activities in the Sierra, 
as a contribution to  poverty reduction S/.18.9 million  
Starting date: 2006 
19 regions  
Agricultural Bank 
(AGROBANCO) Credit for crop and livestock farming, 
aquaculture and agricultural and aquacultural product processing/marketing activities S/.37.9 million  
Starting date: 2002 At national level 
Source: Information provided by MINAGRI. 
4.20.  The Agricultural Bank (AGROBANCO), a semi-public entity set up under private law in 2001, 
grants loans to crop and livestock farmers, forest product producers and fish farmers, either directly or through other financial institutions.
20 According to the Peruvian authorities, 
direct loans are offered at market interest rates. 
4.21.  In 2012, total lending to the agricultural sector was S/.2.6 billion (around US$931 million); 
crop farmers accessing credit in that year represented 13% of the total. The Farm Debt 
Restructuring Programme (PREDA) is benefiti ng around 5,000 farmers and has a budget 
of S/.38 million. 
4.22.  In July 2007, Peru abolished the Special Tax Regularization Programme (PERTA) 
and the Special Financial Regularization Regime (RERF). Peru has guarantee, direct financing 
and insurance facilities for the agricultural sector, such as the AGROPERU Fund, established 
to "provide guarantees to cover credit risks and grant direct financing to small organized agricultural producers"
21, and the Guarantee Fund for Rural Areas and Agricultural Insurance, 
which aims to "guarantee the loans granted by financing institutions to medium and small rural 
producers … [and] to finance agricultural insurance mechanisms …". 
4.23.  In general, Peruvian farmers are able to benefit from a preferential income tax and advance 
refund of the general sales tax (IGV). Since 2008, the tax concessions granted to agricultural 
producers have no longer been conditional upon the use of products of domestic origin 
                                               
20 Law No. 27603 of 21 December 2001. 
21 The AGROPERU Fund was established by Emergency Decree No. 027-2009, as extended 
by Emergency Decree No. 076-2010 and 2011, and by the Fortieth Final Provision of Law No. 29951, which made the Fund permanent. WT/TPR/S/289/Rev.1 • Peru 
 
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  (section 3.3.1.1)22 or upon a minimum percentage use of agricultural inputs of domestic origin 
(90% of the total value of the inputs) which had to be included in agro-industrial activities.23 
4.24.  Persons "engaged in growing crops and/or raising livestock" pay income tax at the rate 
of 15% (the general income tax rate is 30%).24 A n  i n c o m e  t a x  r a t e  o f  1 5 %  i s  a l s o  g r a nt e d  to  
natural and legal persons engaged in agro-industrial activities provided that they mainly use 
agricultural products outside the provinces of Lima and Callao and are engaged in producing, 
processing and preserving meat and meat products; processing and preserving fruit and 
vegetables; and processing sugar. Those who benefit from the reduced tax rate must be in good 
standing with the tax authorities. This rate applies until 31 December 2021.25 
4.25.  Moreover, natural or legal persons investing in any sector of the economy (agriculture 
included) are eligible for the special procedure for advance refund of the IGV paid on imports 
and domestic purchases of new capital goods and construction services. To qualify, it is necessary 
to satisfy certain conditions, such as having a project which requires a "pre-production" stage 
of two or more years and obtaining a supreme resolution endorsed by the Minister of the Economy 
and the competent authority for the corresponding sector.26 
4.26.  There are also other tax concessions for the agricultural sector, such as those contained 
in the Law on the Promotion of Production Development in High Andean Regions27 and the Law 
on the Promotion of Investment in the Amazon Region and amendments thereto.28 
4.27.  Imports and the first sale of pounded rice are subject to the 4% tax on the sale of pounded 
rice (IVAP) but not to the IGV or the municipal promotion tax (section 3.1.5). 
4.28.  Since 1990 there has been no official syst em for controlling marketing or prices in the 
agricultural sector.29 
4.29.  The Payments for Competitiveness Programme, which offers agricultural producers 
incentives to improve competitiveness and productivity, has been introduced.30 
4.30.  In March 2007, the Agrarian Development Plan for Coca-Growing Areas, aimed at coca 
crop conversion, was approved. Measures set out in the Plan were implemented through the Pro-Amazonia and Agrarian Promotion Programme, mainly by strengthening the production 
chains for coffee and cocoa as alternatives to coca. The amount set aside for these measures was 
approximately US$3.5 million, which made possible a 60% increase in the areas used for growing 
alternative crops. 
4.31.  The prohibition on importing powdered milk , fatty anhydride and other dairy inputs used for 
reconstitution and recombination in the manufacture of liquid milk, cheese, butter and similar 
products for direct human consumption was abolished in 2008 (section 1.6).
31 
4.2  Fishing 
4.32.  Peru has about 3,000 km of shoreline which enables it to catch and breed various species 
of fish. It has also begun to develop aquaculture. Peru's main fisheries resources are: prawns on the north coast; turbot, flatfish, abalone and oysters on the south coast; trout in lakes 
and lagoons; and the tropical species of Amazonia . Although the fisheries sector grew in recent 
                                               
22 Legislative Decree No. 1035 of 24 June 2008 approving the Law on Harmonization 
with the WTO Agreement on Trade-Related Investment Measures (TRIMs). 
23 Legislative Decree No. 1035 of 24 June 2008 approving the Law on Harmonization 
with the WTO Agreement on Trade-Related Investment Measures (TRIMs). 
24 Law No. 27360 of 31 October 2000. 
25 Article 6 of Law No. 27360. 
26 Legislative Decree No. 973 of 10 March 2007 and its implementing regulations, 
approved by Supreme Decree No. 084-2007-EF. 
27 Law No. 29482. 
28 Law No. 27037. 
29 Legislative Decree No. 653 - Law on the Promotio n of Investment in the Agricultural Sector. 
30 Legislative Decree No. 1044. 
31 Legislative Decree No. 1035. WT/TPR/S/289/Rev.1 • Peru 
 
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  years, it did not grow as much as other sectors, so that its share of real GDP (including related 
processing activities) fell slightly from 0.5% in 2007 to 0.4% in 2012 (Table 1.1). 
4.33.  Exports of fisheries products now account for a larger proportion of total goods exports, 
having increased from 0.6% to 1% during the period 2007-2012 (Table A1.1). Expressed as 
a proportion of non-traditional exports, exports of fisheries products rose from 7.9% in 2007 
to 9.2% in 2012. The potential for developing canned, frozen and cured products for direct human consumption has not been fully exploited, partly due to the priority given to fishmeal 
processing. Peru is the largest producer and exporter of fishmeal (average annual production 
of 1.4 million tonnes over the last decade, with China being the main buyer). 
4.34.  The average of the MFN tariffs applied to fish and fish products is 0.4%, with a maximum 
rate of 6% (Table A4.1). 
4.35.  The authority responsible for formulating fish eries sector policy is the Ministry of Production 
( P R O D U C E ) ,  w h i c h  r e c e i v e s  a d v i c e  f r o m  t h e  P e r u v i a n  M a r i n e  I n s t i t u t e  ( I M A R P E )  o n  m a t t e r s  relating to the management of fisheries resources. The National Fisheries Health 
Service/Production Technology Institute (SANIPES/ITP), attached to PRODUCE, inspects and 
monitors fishing and aquaculture and fish processi ng. The ITP also provides PRODUCE with support 
in developing higher value-added fisheries products. 
4.36.  Under the Multi-Annual Strategic Plan fo r the Production Sector 2012-2016, the main 
objectives of fisheries policy are to promot e the sustainable development of fishing as a 
contribution to food security and a source of  employment and income and to ensure that 
hydrobiological resources are used in a way that is consistent with environmental protection 
and the conservation of biodiversity. The goals of  the Plan include: increasing the per capita 
consumption of fish and fish products, from 22.1 kg in 2012 to 24.1 kg in 2016; increasing domestic sales of hydrobiological products of Peruvian origin for direct human consumption 
(canned, frozen, cured and fresh), from 556,740 tonnes in 2012 to 651,100 tonnes in 2016; 
and increasing the marketing of aquacultural prod ucts at global level, from 25,900 tonnes in 2012 
to 39,200 tonnes in 2016.
32 
4.37.  In March 2013, PRODUCE commenced the A Comer Pescado  (Eat Fish) programme, 
which seeks to promote the consumption of the hydrobiological resources of the sea and inland waters, especially in the High Andes, where ac cess to these products is limited; to create 
consumption patterns among the population by offering resources at low prices; and to develop 
the domestic market. 
4.38.  Pursuant to the General Law on Fisheries, foreign-registered fishing vessels may only 
conduct fishing operations against "the surplus of allowable catch unused by the national fishing 
fleet".
33 The Law lays down the conditions of access to fisheries resources by foreign-registered 
vessels.34 These include fishing for "occasional, highly migratory or underexploited resources" 
or the signing of an agreement with a Peruvian company to exploit certain resources. 
4.39.  A fishing permit from the Ministry of Prod uction is required to access fisheries resources. 
In order to obtain a permit, the owner of a foreign-registered vessel must provide evidence of domiciliation in Peru and have a legal representa tive there. In addition, a letter of credit must 
be made out to the Ministry of Production corresponding to 25% of the "fishing rights" 
(see below). This requirement does not apply to Peruvian-registered vessels. Foreign-registered 
vessels must have on board a "scientific technical observer" appointed by the IMARPE and a satellite tracking system; and at least 30% of the crew must be Peruvian nationals.
35 
Fishing permits for foreign-registered vessels are not transferable. 
4.40.  Fees must be paid for exploiting fisheries resources.36 For foreign-registered tuna fishing 
vessels, the fee for a fishing permit is US$50 per net registered tonne for a three-month period. 
                                               
32 Ministry of Production (2012). 
33 Article 47 of Decree Law No. 25977 of 22 December 1992. 
34 Article 48 of Decree Law No. 25977. 
35 Article 70 of the regulations implementing the General Law on Fisheries. 
36 Article 40 of the regulations implementing the General Law on Fisheries. WT/TPR/S/289/Rev.1 • Peru 
 
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  For Peruvian-registered vessels the fee for exploi ting hydrobiological resources for direct human 
consumption is equal to 0.058% of a tax unit (UIT) per tonne. 
4.41.  The fisheries regulations do not impose restrictions on foreign capital holdings in Peruvian 
vessels or in aquacultural activities. Nor are ther e any restrictions on the marketing of fisheries 
products on national and international markets.37 Imports and exports of hydrobiological resources 
must comply with the health regulations (section 3.1.9). 
4.42.  Aquaculture is subject to income tax at a rate of 15%. It is also eligible for advance refund 
of the IGV paid on imports and domestic purchases of "new capital goods, new intermediate 
goods, construction services and contracts" during  the "pre-production" stage of a project, which 
does not require a minimum investment. This phase may not exceed two years and it is necessary to obtain a supreme resolution endorsed by the Minister of the Economy and the competent 
authority for the corresponding sector.
38 These benefits apply until 31 December 2013. 
4.43.  The sale of fuel to foreign-registered vessels in possession of fishing permits granted 
by Peru or by other countries and catching "highly migratory" hydrobiological resources 
is not subject to the IGV, the municipal prom otion tax or the selective consumption tax, 
provided that the vessel unloads at least 30% of the catch in its hold at a Peruvian industrial fish-processing plant.
39 
4.44.  In 2012, Peru notified the WTO of two programmes for promoting aquaculture and fishing 
(section 3.3.1.1).40 Beneficiaries of the aquaculture promotion and development programme are 
eligible for a preferential 15% rate of income tax up to 31 December 2013.41 Moreover, through 
the National Fisheries Development Fund (FONDEPES), natural or legal persons engaged in 
aquaculture or small-scale maritime or continental fishing may obtain loans and financial support 
at preferential rates.42 In 2012, FONDEPES granted loans worth S/.5.6 million, 62% of which were 
for repairing and equipping vessels. In 2012, FONDEPES also carried out infrastructure building 
and maintenance work costing almost S/.9 million. 
4.45.  In 2008, the Fishing Quota Law was adopted.  This regulates the exploitation of anchovy 
and white anchovy resources, provided that they  are intended for indirect human consumption, 
that is to say, for manufacturing fishmeal.43 
4.46.  Within the framework of the Doha Round , Peru has advocated a broad ban on fisheries 
subsidies, including "effective and appropriate sp ecial and differential treatment … for artisanal 
fisheries in developing countries".44 Moreover, Peru has submitted a proposal on disciplines for 
artisanal fisheries subsidies.45 
4.3  Mining, excluding hydrocarbons 4.47.  The mining sector is one of the main pillars of the Peruvian economy since it contributes 
about 5% of real GDP, accounts for around 20% of fiscal resources, is an important source 
of employment
46 and generates almost two thirds of the income from merchandise 
exports (Table A1.1). The principal markets for Peruvian mineral products are China, 
the United States, Switzerland, Japan, Canada and the European Union. Copper and gold 
accounted for about two thirds of mineral exports in 2012. 
                                               
37 Article 30 of Decree Law No. 25977. 
38 Article 26 of Law No. 27460, as amended by Article 3 of Law No. 29644. 
39 Article 2 of Law No. 28965 of 24 January 2007. 
40 WTO document G/SMC/N/220/PER of 20 December 2012. 
41 Law No. 27460 and Supreme Decree No. 030-2001- PE, regulations implementing the Law 
on the Promotion and Development of Aquaculture. 
42 Supreme Decree No. 010-92-PE establishing the National Fisheries Development Fund. 
43 Legislative Decree No. 1084. 
44 See, for example, WTO document TN/RL/W/243 of 7 October 2009. 
45 WTO document TN/RL/GEN/172 of 19 January 2011. 
46 Direct employment in the sector has more than doubled since 2000. Around 170,000 persons 
are directly employed, a little over half a million are indirectly employed, and 2.5 million Peruvians depend 
on mining for their livelihood. It is estimated that ever y job created in mining gene rates nine jobs in other 
sectors (commerce, vehicle maintenance, transport, finance, etc.). WT/TPR/S/289/Rev.1 • Peru 
 
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  4.48.  Mining is also one of Peru's main recipients of investment. During the period 2007-2012 
total investment in the sector amounted to US$25,640 million (Table 4.3), two thirds of which was for projects relating to copper. There are curre ntly 47 new exploration and development projects 
valued at US$54,680 million
47, of which 22% involve investment from China, 18% investment 
from the United States and 16% investment from Canada. However, some mining projects have 
been suspended, such as the Cong a gold mine in Cajamarca, the largest in the country and valued 
at almost US$5 billion, owing among other things to public opposition, prompted by fears of the 
environmental impact of the project on the region. 
4.49.  During the period 2007-2012, production of basic metals was volatile and occasionally 
decreased (Table 4.3), partly because of the international economic crisis and the postponement of new mining projects in Peru. 
Table 4.3 Main mining indicators, 2007-2012 
 2007  2008  2009  2010 2011 2012  
Production        
Coppera 1,190 1,268 1,276 1,247 1,235 1,299 
Goldb 170 180 184 163 166 161 
Zinca 1,444 1,603 1,513 1,470 1,256 1,281 
Silverc 3,501 3,686 3,993 3,837 3,419 3,479 
Leada 329 345 302 262 230 249 
Irond 5,104 5,161 4,419 6,043 7,011 6,685 
Tina 39 39 38 34 29 26 
Molybdenuma 17 17 12 17 19 17 
Exportse 17,238 18,657 16,361 21,723 27,361 25,921 
Total investmente 1,249 1,708 2,822 4,069 7,243 8,549 
Investment in exploratione 137 168 394 616 865 891 
Number employedf 135 127 126 166 175 206 
a Thousands of fine tonnes. 
b Millions of fine grains. c Millions of fine kilograms. d Thousands of fine long tonnes. e Millions of US dollars. f Thousands of workers. 
Source: Ministry of Energy and Mining (2013). 
4.50.  The average MFN tariff applied to the mining sector (ISIC 2) is 2.7%, with a maximum rate 
of 6% (Table A4.1). Peru has eliminated the tariffs on capital goods in order to increase the 
competitiveness of the economy and the exportable  offer, including minerals (section 3.1.1). 
4.51.  The formulation of mining policy is the resp onsibility of the Ministry of Energy and Mining. 
Mining policy seeks to update the mining regulations so as to ensure legal stability 
for investment, while improving the conditions for private investment; to boost the development of mining activities with better safety conditions for the workers and for society, while protecting the environment and maintaining harmonious relations with the community; 
and to reinforce supervision. 
4.52.  The Supervisory Authority for Investment in  Energy and Mining (OSINERGMIN) is the public 
body with national responsibility for superv ising and monitoring compliance with the legal 
and technical provisions relating to mining, electricity and hydrocarbons. It is also responsible for 
monitoring the safety of the infrastructure associated with these activities. Since 2010, the environmental regulations have been su pervised, monitored and enforced by the 
Environmental Assessment and Monitoring Service (OEFA) of the Ministry of the Environment.
48 
                                               
47 Of these projects, nine concern mine expansion, nine have already had the environmental impact 
assessment approved and four ar e having it considered, while 25 are in the exploration stage. 
48 Since 2012, the supervision, monitoring and enfo rcement of the occupational health and safety 
legislation have been the responsibility of the Ministry of Labour and Employment Promotion. WT/TPR/S/289/Rev.1 • Peru 
 
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  4.53.  Peruvian mining can be divided into three main categories: (i) large-scale integrated 
mining, which carries out surveying, prospecting, extracting, concentrating, smelting, refining and marketing operations and is characterized by a hi gh degree of mechanization and by the opencast 
mining of world-class deposits; (ii) medium-sca le mining, which operates mainly underground 
mining units, is characterized by a significant degree of mechanization and adequate 
infrastructure, and limits its operations to ore extraction and concentration, as smelting and refining are basically in the hands of the la rge-scale mining companies; and (iii) small and 
artisanal mining enterprises devoted mainly to underground and alluvial gold 
mining and the extraction and processing of  non-metallic minerals. By 2012, the MEM 
had registered 11,036 mining concession holders, of which 36.5% were considered small, 28.1% artisanal and 35.4% large or medium scale. 
4.54.  Under Article 66 of the Constitution, the State has sovereignty over non-renewable 
resources. Private-sector operators are allowed to exploit mineral resources under the concession system. The body in charge of granting mining concessions and administering the national mining 
register and the payments made by all mining concession holders for maintaining their mining 
rights in force is the Mining and Metallurgical Geological Institute (INGEMMET).
49 
Mining concessions have been granted for around 15% of Peruvian territory, although mining is 
actually in progress only on 1.2% (production 0.9% and exploration 0.3%). Approximately 12,500 
mining concessions, affecting 5% of Peruvian territory, are being processed.50 
4.55.  Under the General Law on Mining there are no limitations on foreign capital participation 
in mineral exploration, exploitation or processing  projects, but exploration and exploitation require 
a mining concession.51 The mining concession does not bestow a surface right and a land use 
permit is required before any kind of mining activity can be carried out.52 Moreover, environmental 
impact assessments have to be approved for exploration, exploitation and ore processing 
activities, among others. Surveying, prospecting and marketing are activities that can be carried 
out without the need for a concession from the State. 
4.56.  Companies set up abroad must be established in Peru in order to engage in exploration 
and exploitation through either a branch or a su bsidiary. Concessions are granted for an unlimited 
period, although a penalty is imposed if by the sixth year after granting of the concession no specific investment has been made or producti on has not yet started. Companies with foreign 
holdings must have obtained authorization under a supreme decree before starting exploration 
or exploitation in an area situated within 50 km of the border. 
4.57.  The State levies various fees for mine ral exploration and exploitation. For example, 
since mid-2004, investors have paid royalties for exploiting minerals. In November 2011, 
the system of payment was amended in order to co llect an additional S/.2,940 million (equivalent 
to US$1 billion or 0.5% of GDP) per year and carr y out social and infrastructure projects in the 
poorest areas of the country. This was the principa l change in Peruvian mining policy during the 
review period. Under the new scheme, mining companies without tax stability agreements will pay 
royalties of between 1% and 3% of the value of  the concentrate (or its equivalent) extracted 
and 12% on their operating profits.
53 In addition, these companies will pay a "special tax" 
of between 2% and 8.4%, also on their operating profits. At the same time, companies with tax 
stability agreements – mostly foreign-owned – will pay a "special levy" on their operating profits at 
a rate of between 4% and 13%. Small and artisanal producers do not have to pay royalties. The General Law on Mining defines these two kinds of producer.
54 Holders of mining concessions 
                                               
49 A decentralized technical public body established in 1979 by Organic Law No. 22631. 
50 Mining is restricted on the approximately 57% of Pe ruvian territory subject to protection, for example, 
as a nature reserve or an archaeological site. 
51 Article 9 of the Single Harmonized Text of the General Law on Mining, approved 
by Supreme Decree No. 014-92-EM of 3 June 1992. 
52 Under Article 9 of the General Law on Mining, mini ng concession and owners hip rights are different 
in nature, the concession right being a real asset distinct and separate from the land to which it relates. To avoid possible social disputes, before commencing mini ng activities the holder of the concession must reach 
an agreement with the owne r or owners of the land. 
53 Under the previous system royalties of between  1% and 3% of the value of the concentrate 
(or its equivalent) extracted were applied. 
54 Article 91 of the Single Harmonized Text of the General Law on Mining. WT/TPR/S/289/Rev.1 • Peru 
 
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  must pay an annual fee for the concession, which varies according to the size of the producer.55 
Mining companies must distribute 8% of their profits before tax to their workers. 
4.58.  Company contributions are not deductible for tax purposes, but companies which pay 
royalties may deduct part of them from their cont ributions. Payment of contributions is suspended 
in those years in which annual global prices of certain metals produced by the companies are 
below the reference prices specified in the agreement. In principle, agreements remain in force for five years. At the end of 2012, 40 compan ies had signed agreements with the State. 
The Ministry of Energy and Mining estimates that company contributions amounted 
to S/.2,285 million between 2007 and 2012. 
4.59.  Law No. 27623 gives mining concession holders the right to a definitive refund of the IGV 
and the municipal promotion tax paid on the import and/or local purchase of "goods, supply or 
utilization of construction services and contracts directly used to carry out exploration" for mineral 
resources during the exploration phase. This benefit is granted exclusively to companies that invest at least US$500,000
56 and will remain in effect up until 31 December 2015. The Ministry of 
the Economy and Finance (MEF) estimates that mining-sector tax benefits amounted 
to S/.227 million in 2012. 
4.60.  Holders of mining concessions may enter into tax stability agreements with the State, 
in addition to the "legal stability agreements" available to investors in any sector (section 2.4).57 
Tax stability agreements freeze income tax at the rate in effect at the time the agreement was signed plus two percentage points. The tax benefits in effect at the time the agreement was signed are also frozen, but only for the period prescribed in the legal instrument under which the benefits 
are granted. The term of the agreement varies depending on the production capacity of the 
company signing it. Companies whose production capacity ranges from 350 to 5,000 tonnes per day may sign agreements for ten years, while companies with a larger capacity may sign them for 
15 years. To sign a ten-year agreement it is ne cessary to invest at least US$2 million in a new 
project. The minimum amount for 15-year agreements is US$20 million invested in new projects or US$50 million in existing projects. 
4.61.  During the period 2007-2012, the economic contribution of mining in Peru 
amounted to S/.32,053 billion, distributed as follows: 7.1% for the Solidarity with the People Mining Programme (voluntary contribution); 2.5% in annual concession fees and penalties; 10% in mining royalties; and 80.4% in the form of the canon minero (proportion of 
mining revenue transferred to local and regional governments).
58 
4.4  Manufacturing 4.62.  The manufacturing sector's share of GDP fell from 15.7% in 2007 to 14.2% in 2012 because 
of other sectors growing at a faster pace. Manufacturing grew throughout the review period, 
except in 2009 when it contracted by 7.1% due to the global economic crisis. 
4.63.  In 2012, the main items in terms of output value were foodstuffs, chemicals, and textiles 
and leather (Table 4.4). Printing and publishing, paper, dairy products, non-metallic products, 
textiles, and iron and steel saw relatively large increases in output value. 
4.64.  Manufactures accounted for 11.6% of total merchandise exports in 2012 and consisted 
mainly of articles of apparel and clothing accessories, chemicals, and other semi-processed goods 
(Table A1.1). China and the United States are the main export markets for Peruvian manufacturers 
(Table A1.3). 
                                               
55 Article 39 of the Single Harmonized Text of the General Law on Mining. 
56 Article 14 of the regulations implementing Law No. 27623. 
57 Articles 78, 79, 82 and 83 of the Single Harmonized Text of the General Law on Mining. 
58 Figures provided by the Mini stry of Energy and Mining. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table 4.4 Manufacturing GDP, 2007-2012 
(S/.million at 1994 constant prices and %) 
 2007  2008  2009  2010 2011 2012  
Manu facturing GDP 27,328  29,774  27,627  31,574 33,347 33,786  
As a percentage of total GDP 15.7 15.6 14,3 15.0 14.9 14.2 
Real percentage variation 11.1  8.9 -7.1 14.1 5.6 1.3  
Processing of primary resources 5,022  5,440  5,442  5,353 6,050 5,658  
Sugar 234  259 277 271 280 286  
Meat products 1,612  1,760  1,841  1,931 2,037 2,159  
Fishmeal and fish oil 516  519 497 288 603 313  
Canned and frozen fish products 653 768 635 556 888 840 
Non-ferrous metals 1,173  1,283  1,052  987 1,061 1,020  
Petroleum refining 1,070  1,114  1,422  1,624 1,552 1,506  
Non-primary manufacturing  22,169  24,133  22,078  25,896 27,024 27,769  
Foodstuffs, beverages and tobacco 4,965  5,384  5,407  5,869 6,111 6,337  
Textiles, leather and footwea r 3,677  3,432  2,641  3,573 3,753 3,361  
Wood and furniture 874 1,019  958 1,109 1,135 1,200  
Paper and printed matte r 2,166  2,710  2,378  2,811 3,033 3,080  
Chemicals, rubber and plastics 3,669  3,926  3,603  4,002 4,255 4,503  
Non-metallic minerals 2,416  2,911  2,895  3,485 3,669 4,109  
Iron and steel industry 907 997 787 813 776 822 
Metal products, machinery and equipment 2,347  2,775  2,375  3,008 3,281 3,620  
Other industries 788 781 768 792 706 684 
Source: Central Reserve Bank of Peru (2013). 
4.65.  Almost three quarters of Peru's total im ports are manufactured goods, China being the main 
source (Table A1.4). Machinery and transport equipment, together with chemicals, account for 
a little over half of manufacturing imports (Table A1.2). 
4.66.  The average MFN tariff applied in the manufacturing sector is 3.2%, with a maximum 
of 11% for clothing, among ot her products (Table A4.1). 
4.67.  The Ministry of Production (PRODUCE) is responsible for formulating policy for the 
manufacturing sector.59 The main sectoral goals and objectives in the Multi-Annual Strategic Plan 
for the Production Sector 2012-2016 include60: raising the rate of growth of manufacturing output 
from 5.6% in 2011 to 7% as an annual average over the period 2012-2016; increasing the 
productivity of micro and small enterprises (MSEs) from 1.7 in 2009 to 1.8 in 201661; protecting 
the environment and the health and safety of the population; intensifying the campaign against customs and intellectual property offences; an d promoting reforms to provide Peru with an 
enabling institutional framework that favours diversification and productive deconcentration. 
4.68.  During the review period, Peru applied definitive anti-dumping measures to certain products 
that compete with locally manufactured goods, such as textiles, white cement and footwear 
(section 3.1.7.1). Moreover, it initiated an investigation with a view to the application of a general 
safeguard measure to imports of cotton yarn, although this ended without any measure being applied (section 3.1.7.2). 
4.69.  Manufacturers are eligible for the special procedure for advance refund of the IGV on the 
purchase of new capital and intermediate good s and construction services, whether imported 
and/or purchased locally, used during the pre-pr oduction stage of economic activities subject 
to the IGV or for export. Moreover, manufacturers may be granted tax benefits within the 
framework of the Export, Processing, Industry, Marketing and Service Centres (CETICOS) free 
zone system, for example, in the Tacna Free Zone and Commercial Zone (ZOFRATACNA) and the Puno Special Economic Zone (ZEEDEPUNO ) (section 3.3.2). The Development Finance 
Corporation (COFIDE) provides various programmes and lines of credit for micro, small and 
medium-sized enterprises (section 3.3.1.2), many of them in the manufacturing sector. The MEF estimates that the tax concessions enjoyed by the manufacturing sector amounted to S/.101 
million in 2012. 
4.70.  Peru is taking steps to encourage innovation and technological development in the 
economy, including in manufacturing. In 2009, Law No. 29152 established the Research 
                                               
59 Articles 2 and 3 of the Regulations on the Organization and Functions of the Ministry of Production, 
approved by Ministerial Resolution No. 343-2012-PRODUCE of 23 July 2012. 
60 PRODUCE (2012). 
61 Productivity measured as the value of the output obtained divided by the intermediate consumption. WT/TPR/S/289/Rev.1 • Peru 
 
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  and Development Fund for Competitiveness (F IDECOM), administered by the Ministry 
of Production. The Fund has S/.200 million for promoting research and development relating to productive innovation projects of practical use to enterprises. FIDECOM is available to industrial 
firms and civil associations legally established in Peru and to formal micro enterprises and their 
workers and managers, in association with academic institutions. Through competition, 
FIDECOM can co-finance up to 75% of the total value of the projects.
62 
4.71.  Another programme in support of science, technology and innovation, albeit horizontally 
applied rather than being specifically designed for manufacturing, is that known as "Innovation 
for Competitiveness". It has resources amounting to US$100 million and is partly financed by the Inter-American Development Bank (IDB).
63 Moreover, Law No. 27267 promotes the 
creation of Technological Innovation Centres (CITEs), public and private, throughout Peru under 
the Ministry of Production.64 
4.72.  The Ministry of Production is also redesign ing the project for the construction of industrial 
parks at national level in order to solve various problems that have arisen, such as the lack of 
suitable space for production. The aim of this project is to generate non-polluting industrial centres 
that promote productivity within the sector. This is being done within the framework of the Law on Industrial Parks
65 and has the support of the Private Investment Promotion Agency 
(PROINVERSIÓN) (section 2.4). 
4.5  Services 4.5.1  Main features 4.73.  Peru adopted specific commitments in se ven of the 12 sectors of the General Agreement 
on Trade in Services (GATS), namely, business services; communications; financial services; 
tourism and travel-related services; distribution  services; recreational, cultural and sporting 
services; and transport services.
66 Peru participated in the post-Uruguay Round negotiations on 
telecommunications and financial services, and the respective commitments appear in the Fourth 
and Fifth Protocols to the GATS. 
4.74.  Under the GATS, Peru maintains horizontal commitments on the movement of natural 
persons and investment. Natural persons supplying  services or employed by companies in the 
sectors included in Peru's Schedule may enter the country for a period of not more than three years renewable for successive periods. Such persons may not comprise more than 20% of the total workforce employed by  the company and their remuneration may not 
exceed 30% of the total payroll, with some ex ceptions. Peru guarantees foreign investors and 
companies the same rights and obligations as Peruvian investors and companies, without any exceptions other than those laid down in th e Constitution and Legislative Decree No. 662. 
4.75.  The list of MFN exemptions
67 contains a horizontal exemption to the effect that the 
movement of nationals of a country that has a reciprocal labour agreement or an agreement on dual nationality, or of foreign personnel recruited under bilateral or multilateral agreements 
concluded by Peru shall not be subject to the li mitations on the recruitment of foreign workers. 
The exemptions from MFN treatment relating to specific sectors concern land and maritime transport with countries of the Andean Community (CAN); land transport with countries members of the Convention on International Land Transport
68; and recreational, cultural and sporting 
                                               
62 Online information from FIDECOM. Viewed at: 
http://www.innovateperu.gob. pe/index.php/fidecom.htn. 
63 Online information from FINCYT. Vi ewed at: http://www.fincyt.gob.pe. 
64 A CITE is an institution for transferring technology  and promoting business in novation. It acts as the 
technological partner of the enterprise  for improving innovation capacity and achieving greater competitiveness 
and productivity. Every CITE serves as a meeting point for the State, th e academic community and the private 
sector. CITEs online information. Viewed at: http://www.cites.pe/cites/index.jsp. 
65 Framework Law on Industrial Parks (No. 28183 of 9 February 2004), as amended by Law No. 28566. 
66 See WTO (2007). 
67 Peru's final list of Article II exemptions (MFN) can be found in WTO documents GATS/EL/69 
of 15 April 1994 and GATS/EL/69/Suppl.1 of 26 February 1998. 
68 Argentina, Plurinational State of Bolivia, Brazil, Chile, Paraguay and Uruguay. WT/TPR/S/289/Rev.1 • Peru 
 
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  services with several Latin American countries.69 In addition, on the basis of the principle 
of reciprocity, Peru also has an exemption on all activities related to financial services. All the exemptions from the MFN principle are for an indefinite period. 
4.76.  During the Doha Round services negotiations, Peru submitted an initial offer in 2003 and a 
revised offer in 2005.
70 Peru is also part of a group of WTO Members negotiating a new 
international agreement on services that would go beyond the GATS.71 
4.77.  Within the CAN, Colombia, Ecuador and Peru have rules for free trade in services, except in 
the subsectors "financial services" and "minimum percentages of domestic production 
programming in over-the-air television", where there is a mandate to issue special rules by 31 December 2014 at the latest.
72 For its part, the Plurinational State of Bolivia benefits from 
an exception up until 31 December 2014.73 In the CAN, the national treatment and MFN principles 
apply to all sectors, except for those in which there is a mandate to issue specific sectoral rules, 
namely, "financial services" and "minimum perc entages of domestic production programming 
in over-the-air television". 
4.78.  During the review period, Peru continued negotiating and actively applying regional trade 
agreements, most of which contain provisions concerning financial services; land transport, air and maritime services; and telecommunications services, among others (Table A2.2). 
The commitments relating to services made by Pe ru in its various regional trade agreements are 
very varied and go beyond those included in the Schedule annexed to the GATS or in the offer submitted within that context. 
4.5.2  Financial services 
4.79.  As Table 4.5 shows, at the end of 2 012 there were 60 (55 in 2007) entities under the 
supervision of the Supervisory Authority for Banking, Insurance and Private Pension Fund Managers (SBS), which is responsible for regulating and supervising the financial system. The SBS 
classifies the institutions that make up the Peruvian financial system as: (i) private banking 
institutions; (ii) financing institutions; (iii) non-bank microfinance institutions; (iv) State-owned entities; (v) financial leasing companies; (vi) insurance companies; (vii) pension funds (AFP); 
and other. 
Table 4.5 Structure of the fi nancial sector, December 2012 
Institution Number Amount of assets 
(S/.millions) Percentage 
of assets 
Banking institutions 16 224,158 54.7 
Financing institutions 11 10,339 2.5 
Non-bank microfinance institutions 33 18,705 4.6 
Municipal funds 13 14,548 3.5 
Rural savings and loan funds 10 2,936 0.7 
Small and micro-enterprise development institutions 10 1,221 0.3 
State-owned entities 4 35,055 8.6 
Bank of the Nation (Banco de la Nación)  1 24,179 5.9 
Development Finance Corporation (COFIDE) 1 6,864 1.7 
Agricultural Bank (Agrobanco)  1 439 0.1 
Housing Fund (MiVivienda) 1 3,573 0.9 
Financial leasing companies 2 452 0.1 
Insurance companies 14 22,261 5.4 
                                               
69 Argentina, Plurinational State of Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, 
Dominican Republic, Ecuador, El Salv ador, Guatemala, Haiti, Honduras, Me xico, Nicaragua, Panama, Paraguay, 
Uruguay and Bolivarian Republic of Venezuela. 
70 WTO online information. Viewed at: http:// www.wto.org/english/tratop _e/serv_e/s_ negs_e.htm. 
71 The Really Good Friends of Services are: Australia; Canada; Chile; Chinese Taipei; Colombia; 
Costa Rica; European Union; Hong Kong, China; Iceland;  Israel; Japan; Republic of Korea; Liechtenstein; 
Mexico; New Zealand; Norway; Pakistan; Panama; Paraguay; Peru; Switzerland; Turkey; and United States. 
72 Decisions No. 439, "General Framework of Principles and Rules for the Liberalization of Trade 
in Services in the Andean Community" and No. 659, "Services Sectors Subject to the Development 
of Liberalization or Regulatory Harmonization". 
73 Decision No. 772. WT/TPR/S/289/Rev.1 • Peru 
 
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  Institution Number Amount of assets 
(S/.millions) Percentage 
of assets 
Pension funds 4 98,902 24.1 
Other supervised entities 73 n.a. n.a. 
Total 157 409,872 100 
n.a. Not available. 
Source:  Information provided by the Supe rvisory Authority for Banking, In surance and Private Pension Fund 
Managers (SBS). 
 
4.80.  Together, at the end of 2012 these institutio ns owned assets with a value of S/.409 billion, 
that is, almost twice that at the end of 2007. Th e banking institutions continue to be the main 
player in the financial system, with 54.7% of the assets, but the greatest increase during the period was recorded by the assets of the financing institutions as a result of one banking 
institution, four small and micro enterprise development institutions and two financial leasing 
companies being converted into financing institutions. 
4.81.  According to the IMF, Peru's financial system is sound, profitable and well capitalized. 
Moreover, it successfully withstood the global crisis of 2008-2009 thanks, among other things, 
to good supervision by the SBS and an effective regulatory framework.
74 This was reflected 
in a higher level of financial intermediation, a product of the increasing volume of loans 
and deposits. Average annual lending as a percen tage of GDP rose from 20.5% in 2007 to 30.6% 
in 2012, while deposits increased from 25.1% to 32.1% over the period. Despite the progress made in recent years, there are still certain risks related with, for example, the high level of dollarization of the financial system
75 and its vulnerability to imbalances created by 
external factors. 
4.82.  In the light of recent developments in the international financial system, the SBS is taking 
steps to strengthen the risk-based capital requirements for financial entities and promote a more 
resilient financial sector. In keeping with the adoption of the Basel III global rules on capital, 
the Regulations on the Additional Regulatory Ca pital Requirement (SBS Resolution No. 8425-2011) 
provide for financial institutions to accumulate capital beyond the statutory requirement, 
depending on the risk profile of each institution, with the cyclical capital representing the greatest 
percentage of this buffer.76 
4.83.  The General Law on the Financial System and the Insurance System and on 
the Organization of the Supervisory Authority for Banking and Insurance (Law No. 26702) contains 
the principal legal provisions relating to the financial system. It regulates the persons or 
companies operating within the financial and insurance systems and those carrying out activities related to or complementing the corporate purpose of these persons or companies. 
Since 2007 a number of new supplementary laws have been adopted, in particular 
Legislative Decrees Nos. 1028 and 1052, which are intended to make the financial system more competitive through the elimination of the modular scheme
77, the adoption of Basel II and the 
adjustment of the Peruvian financial system to reflect the commitments undertaken in the Trade 
Promotion Agreement with the United States.78 
4.84.  Under Law No. 26702, majority shareholders in a company operating within the financial 
system may not directly or indirectly own over 5% of the shares in another company of the same 
type. The transfer of shares in a company exceedin g 10% of its capital to a single person must be 
authorized by the SBS. Pursuant to Article 224, in order to carry out certain activities listed in the Law, both Peruvian and foreign companies operating in the financial sector must set up 
                                               
74 IMF (2013a). 
75 At the end of 2012, around 48% of the total loans granted by the Peruvian financial system were 
in foreign currency (56% in 2007), while 38% of deposits were in foreign currency (50% in 2007). 
76 SBS (2012). 
77 This scheme contained three modu les with different financial services. If an institution decided to 
extend the range of its financial services, it was obliged to provide all the services in each module and could not expand its financial services progressively. 
78 The following laws were also adopted: Law No. 29038, which incorporated the Financial Intelligence 
Unit in the SBS (to prevent money laundering); Law No. 29440 on the Payments and Securities Systems; 
Law No. 29489 on the Coverage of the Deposits Insura nce Fund; Law No. 29571, the Code for the Protection 
and Defence of Consumers; Law No. 29850 on Bonding and Guarantee Companies; Law No. 29637 regulating Covered Mortgage Bonds; Law No. 29946 on the Insuranc e Contract; and Law No. 29985 on Electronic Money. WT/TPR/S/289/Rev.1 • Peru 
 
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  subsidiaries, none of which may engage in more than one of the activities listed.79 For financial 
companies setting up subsidiaries, the total investment in subsidiaries may not exceed 40% of the company's assets, except in the case of subsidiaries of life insurance companies. 
4.85.  The role of the State in the financial sy stem is mainly focused on development banking 
activities. Law No. 26702 stipulates that the State may not participate in the Peruvian financial 
system except through the investment it owns in COFIDE as a second-tier development bank, in the Bank of the Nation, in the Agricultural Bank and in the MiVivienda fund. 
4.86.  Under Law No. 26702 foreign investment in financial and insurance companies receives the 
same treatment as Peruvian capital. There are no limitations on foreign participation in the financial and insurance market. 
4.87.  The Income Tax Law includes an exemption, until 31 December 2015, for any fixed 
or variable interest, in Peruvian or foreign currency, paid on a deposit in accordance 
with Law No. 26702, as well as for any capital gains on such deposits, except in the case of third-category income.
80 
4.88.  Under the general provisions of the Cent ral Reserve Bank of Peru (BCRP) and the SBS, 
there may be no discrimination between companies established in Peru and similar companies abroad or between foreign natural or legal persons resident in Peru and Peruvian nationals as 
regards borrowing.
81 
4.89.  The Law on Strengthening Supervision of the Securities Market renamed the National 
Companies and Securities Supervisory Commission, which became the Supervisory Authority for the Securities Market (SMV).
82 At the same time, the SMV was granted greater powers to study, 
regulate and supervise the securities market , stock exchanges, stockbrokers and other 
market participants.83 
4.90.  In 2013, the Law on Promotion of the Securi ties Market, aimed at bringing new issuers into 
the market, entered into force.84 To this end, it establishes, among other things, a special regime 
for public offerings of securities or financial instruments for institutional investors, and authorizes the SMV to establish a special public offering regime for small and medium-sized enterprises.
85 
In addition, it increases the prudential requirements for entities that participate as intermediaries 
in the securities market by raising the minimum capital by 33%, by requiring contributions to the 
guarantee fund in order to commence operations86, and by requiring persons authorized by the 
SMV to set up a comprehensive risk management system.87 
                                               
79 These activities are: real esta te capitalization companies; gene ral deposit warehouses; brokerage 
firms, subject to the Law on the Securities Market; mu tual fund and investment fund programm es; companies 
that provide safe deposit, transport and management serv ices for cash and securities , provided that they have 
authorization from the SBS and the Ministry of the Interior; and securitization trustees, subject to the provisions of the Law on the Securities Market. 
80 Article 19(i) of the Income Tax Law, approved by Supreme Decree No. 172-2004-EF and 
amendments thereto. 
81 Article 6 of Law No. 26702. Foreign natural or legal persons resident in Peru are those whose domicile 
is in Peru and who therefore, pursuant to Article 33 of the Civil Code, are ordi narily resident in Peru. 
82 Approved by Law No. 29782, which entered into force on 29 July 2011. 
83 The SMV is a specialized technical agency attach ed to the Ministry of the Economy and Finance 
and charged with overseeing investor protection, the efficiency and transparency of the markets under its 
supervision, proper pricing and the dissemination of all the information necessary for these purposes, through regulation, supervision and promotion. It has legal stat us under domestic public law and enjoys functional, 
administrative, economic, tec hnical and budgetary autonomy. 
84 Approved by Law No. 30050, which entered into force on 27 June 2013. 
85 In both cases the special regime entails fewer re quirements with regard to the registration and 
formulation of the offer, as well as  fewer requirements regard ing the provision of information during and after 
the offer. 
86 The guarantee fund is an autonomous fund for pr otecting investors carrying out operations on the 
securities market. 
87 The Law also incorporates in the Penal Code pr ovisions that penalize issuers' managers or 
representatives who provide the market with false info rmation and amends the Law on the Securities Market 
to establish the civil liability of issuers' managers for pr ejudice caused as a result of arrangements that are not 
made in the public interest but in their own interests or those of related third parties. WT/TPR/S/289/Rev.1 • Peru 
 
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  4.91.  Peru participated in the negotiations on financial services at the WTO and adopted 
the Fifth Protocol to the GATS. Peru's Schedule states that there are no limitations on market access for banking services when accepting deposi ts and other funds refundable to the public, 
except that financial companies may not accept deposits on behalf of financial institutions not 
authorized to operate in Peru. 
4.5.2.1  Banking services 4.92.  At the end of 2012 there were 16 bank s (13 at the end of 2007), of which 12 were 
majority foreign-owned. The share of total loans held by the three banks with the largest assets 
(Banco de Crédito, BBVA Continental and Scotiabank) remained high, even though it fell from 75% at the end of 2007 to 72% at the end of 2012. 
4.93.  Banking indicators have been maintained at adequate levels despite a slight deterioration 
in the quality of the banking loan portfolio in recent years. The universal banking liquidity 
indicator, defined as the ratio of liquid assets to short-term liabilities, remained comfortable in both Peruvian and foreign currency in December 2012, above the statutory minimum 
requirements of 8% and 20% for Peruvian and foreign currency, respectively. 
4.94.  Under Law No. 26702, to establish and operat e a bank in Peru, including a subsidiary of a 
foreign bank, it is necessary to submit an application to the SBS. Once the full documentation has 
been received, the SBS brings it to the attention of the BCRP, which must make its opinion known 
within 30 days. The SBS then issues the decisi on authorizing or rejecting the application 
within 90 days of having received the BCRP's opinion. 
4.95.  Law No. 26702 (Article 39) places limitations on national treatment insofar as if a foreign 
bank closes and the Peruvian branch has assets, these must primarily be used to compensate 
Peruvian creditors and foreigners domiciled in Peru. This limitation on national treatment does not apply to subsidiaries, for which the treatment applicable is the order of priority for payment laid 
down in Law No. 26702. 
4.96.  There are no legal limitations on private capital holdings, including foreign holdings, 
in commercial banks. In order to provide commercial banking services, foreign banks may set up 
branches or subsidiaries. In the case of branches , capital must be placed in Peru to serve as a 
basis for operations. The minimum capital needed to set up a bank in Peru is S/.24.8 million.
88 
4.97.  For providing financial services in the securities or commodities markets or asset 
management services, including pension funds, foreign banking institutions established in Peru 
may not be established in the form of branches. 
4.98.  The provisions of the Law apply to branches of foreign banks, which enjoy the same rights 
and are subject to the same obligations as similar Peruvian establishments. There are no legal 
limitations on the number of banks that may operate in Peru or on the number of offices that a 
bank established in Peru may open. The services that banks can offer do not depend on the origin of their capital.
89 
4.99.  Residents of Peru may make deposits in foreign banks without any official authorization 
or registration. Both companies and individuals may maintain and operate foreign bank accounts. 
There are no limits on the amount of transactions with entities abroad. 
4.100.  Banks may freely determine the interest rates, commission and fees for their transactions. 
Nevertheless, when setting interest rates they must respect the limits indicated by the BCRP, 
exceptionally, in accordance with its Organic Law.90 
4.101.  The SBS is responsible for monitoring and regulating against money laundering and the 
financing of terrorism in respect of the natural and legal persons within its sphere of competence. 
                                               
88 As of April-June 2013. The minimum capital requirement is updated quarterly. 
89 Article 22 of Law No. 26702. 
90 Article 9 of Law No. 26702. According to the authorit ies, the setting of interest rates has never been 
restricted for this reason. WT/TPR/S/289/Rev.1 • Peru 
 
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  It has issued supplementary rules on the prev ention of money laundering and the financing 
of terrorism.91 
4.102.  Peru still imposes a tax on financial tran sactions, although the rate has been reduced 
from 0.08% in 2007 to the present 0.005%.92 The authorities have indicated that the purpose 
of the tax on financial transactions is to serve as a source of information on tax evasion. 
4.103.  Banks may not engage in insurance activities. However, an investor may simultaneously 
hold shares in banking and insurance companies. 
4.5.2.2  Insurance services 
4.104.  At the end of 2012, there were 14 insurance companies (13 in 2007), four of which were 
operating in general and life (mixed) branches, five in general branches and five in life branches. Foreigners hold stakes in the capital of ten of these 14 companies (in six cases majority holdings). 
In 2012, the insurance companies had assets worth S/.22 billion (twice the amount recorded 
in 2007). Thanks to the healthy general economic situation, the net value of insurance premiums stood at S/.7,906 million at the end of 2012, a little over twice the level in December 2007 
(S/.3,712 million). However, there is little depth since insurance premiums account for 
only 1.5% of GDP. 
4.105.  All insurance activities, including social security services, are open to foreign investment. 
There are no limitations on Peruvian or foreign private capital holdings in insurance companies. 
Peruvian residents may take out insurance and reinsurance abroad.
93 Foreign companies may set 
up branches or subsidiaries in order to provide insurance services. Before setting up a branch or agency an insurance company must obtain prior authorization from the SBS. 
4.106.  There are no legal limitations on the num ber of insurance companies that may operate. 
Nor is there any limitation on the number of agen cies they may open, although the SBS must be 
informed whenever an agency is opened or closed. There are no differences between the types 
of services which insurance companies with domestic or foreign capital may offer. Insurance 
companies freely determine the terms of their poli cies, their rates and other conditions, provided 
they comply with the legal provisions that govern the insurance contract.
94 
4.107.  The minimum amounts of registered capital,  in cash, required for insurance companies are 
as follows95: company operating in a single branch (general or life insurance) S/.4.5 million; 
company operating in both branches (general and life insurance) S/.6.2 million; insurance and reinsurance company S/.15.8 million; reinsu rance company S/.9.6 million. The requirements 
concerning solvency margins and technical reserves laid down in the legislation apply equally 
to companies with Peruvian and foreign capital. 
4.108.  The SBS keeps a register of foreign reinsurance companies: in order to be listed in this 
register the company concerned must submit an application. In mid-2013, 16 companies were 
registered. However, in Peru insurance companies may also take out reinsurance with reinsurance companies not enrolled in the SBS Register, provided that at the time the latter have 
a "non-vulnerable" risk classification. 
4.109.  In Peru, there is a range of compulsory insurance, for example: (i) workers' life 
insurance
96; (ii) supplementary occupational risk insurance97; and (iii) traffic accident insurance.98 
                                               
91 Approved by SBS Resolution No. 838-2008 of 28 March 2008. 
92 Law No. 29667. 
93 Article 10 of Law No. 26702. 
94 Law on the Insurance Contract (Law No. 29946). 
95 As of April-June 2013. 
96 The employer must insure the worker or employee. Legislative Decree No. 688, Law on the 
Consolidation of Social Benefits of 1 November 1991. 
97 Law No. 26790, Modernization of Social Security in Health and its implementing regulations, approved 
by Supreme Decree No. 03-98-SA of 13 April 1998. Provides coverage for work injuries and occupational 
diseases for workers and employees members of the Soci al Health Insurance scheme where the employer is 
engaged in high-risk activities described in Annex 5 to Supreme Decree No. 009-97-SA. 
98 General Law on Transport and Transit (Law No. 27181). WT/TPR/S/289/Rev.1 • Peru 
 
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  Under the Law on the Insurance Contract (Law No. 29946), compulsory insurance must be taken 
out with insurance companies established in Peru and duly authorized by the SBS.99 
4.5.3  Telecommunications 4.110.  Peru's telecommunications sector has cont inued to grow, particularly the mobile-cellular 
phone market, where penetration increased from 56% in 2007 to 97% in 2012 (Table 4.6). 
However, in 2012, only 17% of Peruvian households had access to the Internet and barely a quarter of households had at least one computer in the home. In general, the level of access to 
telecommunications services remains low in the country's poorest departments and poor urban 
sectors. According to the latest information from the International Telecommunication Union (ITU), Peru is in 86
th place out of 155 countries in its ICT Development Index.100 
Table 4.6 Selected telecommunications indicators, 2007-2012 
 2007  2008  2009  2010 2011 2012  
Fixed-telephony subscriptionsa 2.8 3.1 3.2 3.2 3.3 3.4 
Fixed-telephony subscribersb 10.28 10.69 10.78 10.66 10.85 11.28 
Mobile-cellular telephony subscriptionsa 15.4 21.0 24.7 29.1 32.5 29.4 
Mobile-cellular telephony subscribersb 55.63 72.90 84.31 98.26 108.32 96.97 
Internet subscriptionsa, c n.a. 1.02 1.08 1.21 1.63 2.28 
Internet subscribersb, c n.a. 3.54 3.69 4.09 5.42 7.53 
Fixed-broadband subscriptions 
(thousands) 570 727 813 933 1,212 1,442 
Fixed-broadband subscribersb 2.02 2.53 2.77 3.15 4.04 4.76 
n.a. Not available. 
a Millions. 
b Per 100 inhabitants. c Includes narrowband. 
Source: ITU (2012a) and information provided by the Ministry of Transport and Communications. 
4.111.  Two institutions have regulatory and administrative responsibilities in the 
telecommunications sector. On the one hand, the Ministry of Transport and Communications (MTC) 
sets telecommunications policy; draws up regulations and plans for the various services, 
such as the National Frequency Allocation Plan; grants and cancels concessions, authorizations, permits and licences; administers and oversees the frequency spectrum and numbering; 
approves telecommunications equipment and repres ents the State in the competent international 
organizations. It also acts as the Technical Secretariat of the Telecommunications Investment Fund (FITEL). On the other hand, the Supe rvisory Authority for Private Investment 
in Telecommunications (OSIPTEL) is responsible for regulating interconnection, the quality of the 
service, the rights and obligations of operators and users, and tariffs; supervising the conduct of the operators; investigating and sanctioning breaches of the regulations; settling disputes 
between companies; and dealing with complaints from users. 
4.112.  The basic regulatory framework for the telecommunications sector is contained in the 
Single Harmonized Text of the Telecommunications Law and its implementing regulations
101, 
which classify telecommunications services into: (i) carrier services; (ii) teleservices or final 
services; (iii) distribution services; and (iv) value-added services. Within this regulatory 
framework, the following services require a special concession before they can be provided: carrier 
services; public teleservices or final services; and public distribution services. Enrolment in the 
public telecommunications services register is also required. To operate private final and 
radio-communications services and private distributi on and broadcasting services an authorization, 
together with the corresponding permit and licence,  is required. Value-added services need to be 
registered and those that require their own telecommunications networks, separate from those 
of the carrier services or teleservices, require special authorization from the MTC. 
                                               
99 According to the authorities, this provision is not intended to affect Peru's commitments under its 
regional trade agreements in respect of cross-border trade in financial services. 
100 ITU (2012b). 
101 The Single Harmonized Text of the Telecommunications Law was approved by Supreme 
Decree No. 013-93-TCC and its implementing re gulations by Supreme Decree No. 020-2007-MTC. WT/TPR/S/289/Rev.1 • Peru 
 
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  4.113.  Concessions are granted at the request of a party or following an open competition.102 
A single concession may comprise the possibility of providing more than one public telecommunications service. The allocation of a specific portion of the frequency spectrum allows it to be used in accordance with the provisions of the National Frequency Allocation Plan; 
allocation is by open competition or at the request of a party. 
4.114.  Legislation in the sector gives Peruvian and foreign investors the right to provide 
telecommunications services in the following forms: (i) public services, with no restrictions on 
foreign investment; and (ii) broadcasting services. To own a broadcasting service, legal persons 
must be domiciled and established in Peru.
103 In the previous review, foreign involvement in legal 
persons owning a broadcasting service could not exceed 40% of the total holdings, shares in the equity or number of partners. This was declared unconstitutional as contrary to the equal 
treatment of domestic and foreign capital.
104 The principle of reciprocity now applies. No call-back 
is allowed in international long-distance traffic. 
4.115.  In recent years Peru has taken, inter alia , the following steps to promote investment in the 
sector and encourage competition: (i) establishment of a special and temporary (up until 2016) 
regime for creating the infrastructure ne eded to provide telecommunications services105; 
(ii) regulation of access to and shared use of the telecommunications infrastructure managed 
by major providers (so far the major providers in the wholesale access market for Internet 
and data transmission services have been determined)106; (iii) promotion of the marketing 
and resale of services107; (iv) establishment of a special regime for promoting the development 
of public telecommunications services in rural areas and places of priority social interest108; 
and (v) prioritization of public frequency spectrum competitions which make it possible to promote 
the expansion of services in bands identified for public telecommunications services.109 
4.116.  Law No. 28295 declares that access to and shared use of public-use infrastructure is in the 
public interest and meets a public need. This Law requires the shared use of public-use 
infrastructure where the competent authority will not permit the building and/or installation of such infrastructure for environmental, public health, safety or land planning reasons. 
OSIPTEL can impose shared access to infrastructure under the rules on free competition. 
4.117.  Established in 1993, the Telecommunications Investment Fund (FITEL), part of 
the Ministry of Transport and Communications, seeks to promote universal access through private investment in regions where the demand does not guarantee profitability.
110 The Fund finances 
telecommunications services exclusively in rural areas and places of priority social interest, 
together with the infrastructure needed to guarantee access to those services. FITEL is financed through a contribution made by all companies in the sector (equivalent to 1% of the value of their 
sales) and other allocations such as 20% of the fee charged for the use of the frequency spectrum. 
In 2012, FITEL had S/.132 million to invest in various public telecommunications services projects.
111 
4.118.  The fixed and mobile telephony markets continue to display a high degree 
of concentration. In December 2012, Telefónica del Perú had 72.2% (87.2% in 2007) of the total number of fixed telephony lines. The Spanish company Telefónica controls 96% of the shares of Telefónica del Perú under an administrative concession granted by the State, which gives it the 
right to utilize the public telecommunications services infrastructure and networks. This 
concession, renewed until 2027, is subject to specific obligations concerning third party access to the operator's basic infrastructure and network fac ilities. The rest of the fixed telephony market is 
divided up among 16 operators, led by América Móvil (14.4%)
112 and Telefónica Móviles (11.2%). 
                                               
102 Single Concession Law, Law No. 28737 of 18 May 2006. 
103 Article 24 of the Radio and Television Law (Law No. 28278 of 23 June 2004). 
104 Decision of the Constitutional Court, Case No. 13-207-PI-TC of 16 December 2007. 
105 Law No. 29022, as extended by Law No. 29868. 
106 Legislative Decree No. 1019, as supplemented by Resolution No. 020-2008-CD/OSIPTEL. 
107 Supreme Decree No. 003-2007-MTC. 
108 Supreme Decree No. 024-2008-MTC. 
109 Supreme Decree No. 003-2007-MTC. 
110 Law No. 28900. 
111 FITEL online information. View ed at: http://www.fitel.gob.pe. 
112 In May 2012, América Móvil took over Telmex Perú. WT/TPR/S/289/Rev.1 • Peru 
 
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  4.119.  At the end of 2012, the leading mobile telephony operators were Telefónica Móviles, 
with 50.6% (61.2% in 2007) of the lines in service, followed by América Móvil (43.8%) 
and Nextel (5.6%). The fourth mobile telephony operator, the Vietnamese company Viettel Perú, has had infrastructure since 25 January 2012, but is not yet operating commercially. 
4.120.  Subscription, pay and cable TV services are provided wirelessly through satellite 
technology and over wires through hybrid networks with coaxial and/or fibre optic cables. In 2012, 
there were around 1.46 million subscribers (0.8 million in 2007). Based on figures for the wired 
subscription TV market only, Telefónica Multimedia controlled 60.5% of the market, followed 
by América Móvil (12%), DirectTV (10.2%) and the rest of the 445 concession holders operating in the market. 
4.121.  In the broadband market
113, it is calculated that more than 60% of total connections are 
provided through fixed broadband and the rest through mobile broadband. There is a total 
of 31 operators, of which Telefónica del Pe rú has 56.1% of total connections, followed 
by América Móvil (22.9%), Nextel (0.9%) and Telefónica Móviles (8.8%). 
4.122.  In 2012, the Law on the Promotion of Broadband and Construction 
of the National Fibre-Optic Backbone Network was adopted for the purpose of encouraging the 
development and use of broadband throughout Peru, thereby facilitating social inclusion, 
socio-economic development, competitiveness, national security and the transition to an 
information and knowledge-based society. The Law also declared it a public need and in the 
national interest to link up Peru's 180 provincial capitals by building a fibre-optic backbone network, with high-capacity transmission lines (100 Gbps), a 13,395 km extension, 
and investment estimated at US$300 million.
114 
4.123.  In accordance with the Single Harmonized Text of the Telecommunications Law, public 
telecommunication services concessionaires may set their tariffs freely, subject to a ceiling 
determined by OSIPTEL. If the concession agreement establishes a specific rate-setting criterion, 
then it will be applied. The Law authorizes OSIPTE L to opt for not fixing ceiling rates if thanks to 
inter-company competition a reasonable tariff in favour of the user is guaranteed. 
4.124.  The rates charged by Telefónica del Perú are regulated by the clauses in the concession 
agreements signed by the Peruvian State in 1994. The rates for local and long-distance fixed telephony are adjusted quarterly by basket of se rvices. Adjustments are made in accordance with 
a ceiling rate formula that takes into account inflation and a productivity factor reviewed every 
three years (5.98% a year from September 2010).
115 
4.125.  Overall, Peru ranks 111th out of 161 countries in the ITU's ICT price basket. This study 
concluded that, measured as a percentage of per capita gross national income, the price basket 
for fixed-line, mobile and broadband services is relatively high.116 
4.126.  In 2012, OSIPTEL fined Telefónica del Perú S/.1.5 million for abuse of dominant position in 
the Internet market.117 During 2007-2012, regulatory measures were also taken to promote 
competition in the telecommunications market, such as the rules on the elimination of preselection 
by default, the methodology and procedures for determining major providers, and the adjustment of various tariffs (data transmission by means of ATM circuits with ADSL access, regulation of 
                                               
113 Broadband, understood as high-s peed Internet access, combines connection capacity (bandwidth) 
with data traffic speed (expressed in bits per second), enabling users to access vari ous contents, applications 
and services. 
114 This project will be the subject of an open competition organized by PROINVERSIÓN. 
115 Resolution No. 070-2010-CD/OSIPTEL. In principle, rates rise in accordance with the average 
increase in cost level and fall wi th improvements in productivity. 
116 The ICT price basket measures the affordability of fixed telephony, mobi le telephony and fixed 
broadband services. Greater market liberalization and the intensification of competition tend to reduce prices, which in turn leads to higher levels of assimilation of information and communication technologies. ITU (2012b). 
117 It was considered an anti-competiti ve practice for Telefónica del Perú  to make the sale of its product 
Speedy (fixed Internet via ADSL) conditional upon the purchase of its fixed telephony service, that is to say, 
the company carried over its dominant position in the fixed Internet market to the fixed telephony 
services market. WT/TPR/S/289/Rev.1 • Peru 
 
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  interconnection charges, etc.). Moreover, it is intended to implement number portability within the 
fixed telephony service in July 2014. 
4.5.4  Air transport 4.127.  The airport network comprises 23 airports, of which 19 are operated under 
concessions and four are managed by the Peruvi an Commercial Aviation Corporation (CORPAC), 
which is 100% State-owned. In addition, CORPAC manages 75 airfields and 18 heliports.
118 
Air navigation services remain a State responsibility. Total air freight traffic increased 
from 224,831 tonnes in 2007 to 313,736 tonnes in 2012, of which 88% was international freight 
and 12% domestic. 
4.128.  In February 2001, a 30-year concession for Lima's Jorge Chávez International Airport was 
granted to the company Lima Airport Partners. The airport is the main base for airline operations, 
has become a South American hub119 and has continued to modernize with a cumulative 
investment of almost US$300 million in December 2012. Committed investment amounts to US$1,062 million, which includes the construction of a second runway for 2014. 
In addition, Peru has another ten international airports
120 and is planning to build the 
new Chinchero-Cusco international airport with  an investment estimated at US$556 million. 
4.129.  In December 2006, a 25-year concession for a first group of regional airports was granted 
to the company Aeropuertos del Perú, which undertook to invest an estimated US$232 million.121 
This investment may be confirmed or revised depending on the development of the respective master plans. In January 2011, a 25-year concession agreement for a second group of regional airports was signed with the Consorcio Aeropuer tos Andinos del Perú, which undertook to invest 
an estimated US$257 million.
122 This investment also depends on the development of the 
master plans. 
4.130.  Every airport must have a master plan specifying the investment in construction, 
expansion, improvement and maintenance of the ai rport infrastructure, which must be approved 
by the DGAC.123 So far, ten concession airport master plans have been approved. Public airfields 
are for public use; other airfields are classified as private.124 Air transport is a public service 
serving the national interest and meeting national needs.125 The DGAC is responsible for 
establishing, administering, operating and maintain ing navigation aid, radiocommunication and air 
traffic control services and may delegate these activities to another State agency.126 
4.131.  In 2009, the infrastructure deficit (section 1.4) related with air transport in Peru was 
estimated at almost US$3 billion.127 To close this gap, the Multi-Annual Strategic Sector Plan for 
                                               
118 CORPAC operates, equips and maintains commercial  airports open to air traffic; provides air 
navigation support, radiocommunication and air traffic co ntrol services at commercial  airfields; establishes and 
maintains air traffic management; and regula tes and controls overflight air traffic. 
119 Some 19% of passengers arriving at Jorge Chávez  Airport on international flights make onward 
connections to other destinations. The airport co ncentrates, as either origin or destination, 
approximately 95% of domestic flight s, 94.5% of the domestic passenger flow and 99.5% of the international 
flow. Ministry of Transport and Communications (2012). 
120 Located in Arequipa, Cusco, Chiclayo, Iquitos, Juliaca, Pisco, Pucallpa, Talara, Tacna and Trujillo. 
121 The airports are in Talara, Tumbes, Chachapoyas, Iquitos, Tarapoto, Pucallpa, Trujillo, Anta-Huaraz, 
Cajamarca, Pisco, Chiclayo and Piura. 
122 Located in Andahuaylas, Ayacucho, Arequipa , Tacna, Juliaca and Puerto Maldonado. 
123 Articles 44 and 49 of the regulations implementing Law No. 27261. 
124 Law No. 27261. 
125 Law No. 28525. The sites of airports for public use are defined as inalienable property. However, 
public airfields can be built,  exploited, operated, equipped and maintained  by public or private, natural or legal 
persons, under concessions. Peruvi an or foreign individuals may also  repair, build and offer technical 
maintenance services or provide ancill ary or aircraft ma intenance services. 
126 Law No. 27261. 
127 Of this deficit, US$71 million related to airport infrastructure (US$405 million was associated with 
airports operated under concessions and the rest with airports managed by CORPAC). Ministry of Transport 
and Communications (2012). WT/TPR/S/289/Rev.1 • Peru 
 
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  Transport and Communications 2012-2016 intends to promote greater private sector participation 
in the provision of air transport services thro ugh public-private partnerships (section 2.4).128 
4.132.  The Ministry of Transport and Communi cations (MTC) is responsible for ensuring 
Peru's internal and external integration by regu lating, promoting, building and supervising the 
transport and communications infrastructure. The Directorate-General of Civil Aviation (DGAC), 
which is part of the MTC, is responsible for civil aviation matters. The Supervisory Authority for Investment in Public Transport Infrastructure (OSITRAN), part of the Office of the President of the 
Council of Ministers, monitors investment in  the transport infrastructure for public use.
129 
4.133.  Passenger and freight air transport services are provided by private companies. In the case 
of a legal person, to own a Peruvian aircraft it is necessary to be established in accordance with Peruvian law and be legally domiciled in Peru. Foreign companies not established in Peru 
but with a domicile in Peru may only list and register aircraft if they are to be used 
for non-profit-making general aviation purposes. Foreign legal persons authorized to provide international air transport services, directly or indirectly, must have a domicile and a legal 
representative in Peru.
130 
4.134.  Domestic commercial aviation is reserved for Peruvian natural or legal persons. 
For a company to be considered a Peruvian legal person, when it is set up at least 51% of its 
equity must be Peruvian-owned and it must be under the real and effective control of Peruvian 
shareholders or partners with a permanent domicile in Peru (section 2.4). This restriction must remain in force for at least six months from the date on which the operating permit takes effect, after which the percentage of the equity owned by foreigners may rise to a maximum of 70%.
131 
4.135.  Rates and fares for commercial aviation services, particularly domestic and international 
passenger, freight and mail transport, are freely determined by the operators. Exceptionally, and for reasons of national interest or public necessity, the authorities may set minimum 
and maximum rates for domestic or international air transport. 
4.136.  To undertake civil aviation activities an operating permit or a flying permit is required and 
the relevant operating approval and technical operating certification must also be obtained.
132 
Operating permits are granted by the DGAC for up to four years and may be renewed. 
The Peruvian State grants routes, time-slots and commercial air rights to foreign carriers on the basis of the bilateral agreements it has signed. If there is no bilateral agreement, they are granted 
on the basis of reciprocity or subject to equivalent economic compensation for Peru. 
4.137.  Peruvian companies requesting a permit to operate international scheduled air transport 
services for passengers, freight and mail must also be operating domestic air transport services. The purpose of this provision is to ensure  that Peruvian operators of international routes also 
provide a service at the domestic level to promote connections between cities in Peru's interior, 
bearing in mind that domestic commercial aviation (cabotage) is reserved for Peruvian companies. 
4.138.  Peru has signed a number of international agreements, including multilateral 
agreements
133 and 36 bilateral air transport agreements.134 
                                               
128 Aeroperú ceased operating in 1999. Since then no other company has taken its place as the national 
carrier. The State has no commercial aviation company. 
129 OSITRAN is also responsible for regulating airpor t infrastructure and air navigation services and for 
supervising concession agreements and non-concession  infrastructure managed by CORPAC, as well as for 
setting the tariffs for the us e of that infrastructure. 
130 Law No. 27261. 
131 Article 160 of the regulations implementing Law No. 27261. 
132 Law No. 27261. 
133 Convention on International Civil Aviation, Chicago, 1944; Convention for the Unification of Certain 
Rules Relating to International Carriage by Air,  Warsaw, 1929; The Hague Protocol, 1955; Convention 
Supplementary to the Warsaw Convention  for the Unification of Certain Rules Relating to International Carriage 
by Air Performed by a Person Other than the Cont racting Carrier, Guadalajara, 1961; and the Montreal 
Convention on Air Carrier Liability, Montreal, 1999. 
134 Argentina; Australia; Belgium; Plurinational State of Bolivia (CAN regime); Brazil; Canada; Chile; 
China; Colombia (CAN regime); Co sta Rica; Cuba; Denmark; Dominican Republic; Ecuador (CAN regime); 
France; Germany; Hong Kong, China; Mexico; Netherla nds; Norway; Panama; Paraguay; Portugal; Singapore; WT/TPR/S/289/Rev.1 • Peru 
 
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  4.139.  The CAN member countries may mutually grant fifth freedom traffic rights for scheduled 
passenger flights; operate unscheduled passeng er flights when there are no scheduled air 
services; and grant fifth freedom traffic rights  for unscheduled cargo flights between member 
countries and third countries.135 
4.5.5  Maritime transport 
4.140.  Peru has 45 ports, of which 40 are on the sea, four on rivers and one on a lake. The port 
of Callao moves about 70% of total cargo and 90% of national container port traffic and has 
positioned itself as the foremost container transhipment port on the west coast of South America. 
Its modernization is proceeding in stages.136 In 2009, the Peruvian port infrastructure deficit was 
estimated at US$3.6 billion.137 
4.141.  Cargo traffic in the Peruvian port system rose from 43,224 thousand metric tons (TMT) 
in 2003 to 62,093 TMT in 2011. In volume terms, non-ferrous metals and iron ore are the main 
exports carried by sea. With regard to container tr affic, in 2012 a little over two million TEUs were 
moved, of which 39% were exported, 38% imported, 17% transhipped, and 1% carried 
in cabotage, while the rest were in transit. 
4.142.  With the exception of ports under concessi on such as El Callao, the ports are managed by 
the national port company Empresa Nacional de Puertos S.A. (ENAPU), which belongs to the 
National Fund for the Financing of State Business Activity (FONAFE), a public law entity attached to 
the MEF. The MTC's Directorate-General of Water Transport (DGTA) is responsible for promoting, 
regulating and administering the development of maritime, river and lake activities and for the development of waterways and multimodal transport. The National Port Authority (APN) is 
responsible for developing the National Port System (SPN), encouraging private investment in the 
ports and coordinating the various public and private actors.
138 The Government's competence in 
relation to port questions is exercised solely by  the APN. The fees charged for port services are 
regulated by OSITRAN.139 
4.143.  The main objectives of the National Po rt Development Plan, the Multi-Annual Strategic 
Sector Plan for Transport and Communications 2012 -2016 and the current Shipping Policy include 
encouraging the revival and development of shipping  (maritime, river and lake) under a system of 
free competition; modernizing port infrastructure and technology; increasing the value-added component of port services; promoting the develo pment of cabotage; and continuing to comply 
with the international agreements and rules on maritime and port safety. 
4.144.  To promote the development of Peruvian sh ipping companies with Peruvian vessels and be 
able to compete in world water transport markets, the following tax concessions are granted: (i) depreciation of vessels and ships for income tax purposes; (ii) exemption from the IGV 
and the selective consumption tax on the sale of fuels and lubricants; and (iii) exemption until the 
end of 2014 from income tax on the interest which Peruvian shipping companies pay to financial institutions abroad for operations relating to the purchase of ships for the Peruvian 
merchant marine.
140 
4.145.  The Peruvian merchant marine has 13 companies, with 49 Peruvian-registered 
vessels, of which 21 are tugboats or pushers, 14 o il tankers, five passenger vessels, three general 
                                                                                                                                               
South Africa; Spain; Sweden; Switzerland; Thailand ; Turkey; United Arab Emirates; United Kingdom; 
United States; and Uruguay. 
135 CAN Decision No. 582. 
136 For example, in June 2010, work began on the first phase of the new south container dock for the 
port of Callao, with a committed investment of US $707 million, for the purpose of moving 850,000 TEUs 
a year. Likewise, in May 2011 a contract was signed with a private company to build the multi-purpose north terminal of the port of Callao, with a committed investment of US$749 million, to move 2.9 million TEUs a year. 
137 Ministry of Transport and Trade (2011). 
138 Law No. 27943 of 1 March 2003 (Law on the National Port System) and its implementing regulations 
(DS 003-2004-MTC). 
139 The fees approved by OSITRAN are recorded  in the ENAPU in accordance with Board 
Resolution No. 001-99 CD/OSITRAN. 
140 Law No. 28583 (Law on the Revival of the Peruvian Merchant Marine) of 23 June 2005 has been 
amended by Law No. 29475. WT/TPR/S/289/Rev.1 • Peru 
 
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  cargo ships, two gas tankers, two barges, on e container ship and one chemicals tanker.141 The 
international maritime transport service is provided almost entirely by foreign shipping companies, while the passenger, cargo and mixed river transport services offered in Amazonia are largely informal, which adversely affects both the collection of taxes and the quality and safety of 
the services. 
4.146.  Maritime cabotage is very restricted du e to the limited traffic between the main cargo 
generating and receiving centres in Peru and the competition from road transport, which offers a 
much more flexible service. In 2012 there were nine foreign companies operating vessels involved 
in Peru's foreign trade. In the case of maritime cabotage, 12 Peruvian shipping companies have operating permits for domestic and internationa l transport and two Peruvian companies have 
operating permits for international transport only. 
4.147.  The charge for cabotage is at a preferential  rate that may be negotiated, provided that this 
leads to an increase in the volume of cargo transported between Peruvian ports. In practice, there are no special rates for cabotage because there are no exclusive cabotage services. 
Cabotage rates are not subject to regulation because it is considered that there is a certain degree 
of competition between this service and land transport. 
4.148.  All Peruvian-registered vessels must be listed in the Ship Register of the National 
Supervisory Authority for Public Registers. Entry in the register requires, inter alia , 
that the Peruvian ship or Peruvian shipping company be in possession of a permit from the DGTA. If the ship is listed in a foreign register, that listing must be cancelled or suspended.
142 
4.149.  After listing in the Ship Register, which confers ownership, the registration authority 
informs the Directorate-General of Harbour Authorities and Coastguards (DGCG) so that it can 
grant the registration certificate authorizing the Peruvian flag to be flown and free navigation inside and outside Peru's territorial waters. Peruvian-registered ships must have 
a Peruvian captain, except in exceptional circum stances, and at least 85% of the crew must be 
Peruvian nationals.
143 Most of the shipping fleet operated by companies established in Peru is 
foreign-registered. 
4.150.  Commercial water transport for domestic traffic is exclusively reserved 
for Peruvian-registered merchant vessels belong ing to Peruvian ship owners or Peruvian 
shipping companies or operating under financial leasing or bareboat charter arrangements with a mandatory purchasing option (section 2.4).
144 A Peruvian ship owner or Peruvian shipping 
company must be a natural person of Peruvian na tionality or a legal person established in Peru, 
with its principal domicile and actual and effective head office in Peru. In the case of legal persons, at least 51% of the paid-up equity must be held by Peruvian nationals.
145 
4.151.  if there are no Peruvian ships for transport by water between Peruvian ports, 
foreign-registered ships operated by Peruvian ship owners or Peruvian shipping companies may be chartered for a period not exceeding six months. For reasons of security and national defence, 
up to a maximum of 25% of the volumes of hydrocarbons transported are reserved for the 
Peruvian Navy on domestic or cabotage routes. 
4.152.  There is freedom of routes in Peruvian waters, that is to say, there are no restrictions 
limiting free access to traffic, services or routes to Peruvian vessels and Peruvian shipping 
companies.
146 Waterborne cargo generated by Peru's fore ign trade may only be restricted in cases 
of national crisis and/or state of emergency; in application of the principle of reciprocity; where ships do not meet safety or environmental protection requirements; or where ships do not have 
protection and indemnity and/or civil liability cove rage. The reciprocity principle requires that the 
                                               
141 The river transport fleet includes approximately 1,100 vessels, including " motochatas " (motorized 
flat-boats), barges, tugboats, river pu shers, and river boats, more than 20 years old. Ministry of Transport and 
Communications (2012). 
142 Article 9 of Law No. 28583, as amended by Law No. 29475. 
143 Article 13 of Law No. 28583, as amended by Law No. 29475. 
144 Law No. 28583 establishes the conditions for cabotage (at national level). 
145 Moreover, the chairman of the board, a majority  of the directors and th e general manager must 
be Peruvians and reside in Peru. 
146 Law No. 28583, as amended by Law No. 29475. WT/TPR/S/289/Rev.1 • Peru 
 
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  share of foreign companies in Peru be equivalent to the share to which Peruvian companies are 
entitled in the foreign country concerned. The authorities have pointed out that Peru has not imposed any restrictive measures based on the reciprocity principle. 
4.153.  In the case of international transp ort by water, Peruvian ship owners and 
Peruvian shipping companies may charter foreign-registered vessels without prior authorization.
147 
4.154.  The CAN countries are given preferential treatment for cabotage services within 
the Andean region.148 Moreover, there is freedom of access for cargo originating in and intended 
f o r  s h i p m e n t  w i t h i n  t h e  A n d e a n  r e g i o n  o n  v e s s e ls owned, chartered or operated by shipping 
companies of the member countries and third countries. CAN members may act jointly against third countries which discriminate against maritime transport companies in one or more member States.
149 No CAN country has asked for restrictive measures to be imposed. 
4.155.  In general, Peruvian ports meet the standards of the ISPS Code.150 The APN is responsible 
for this security code, while the DGCG is responsible for ensuring that ships comply with it. Although Peru does not form part of the CSI
151, preliminary measures were being taken with 
a view to its implementation. 
                                               
147 Law No. 28583, as amended by Law No. 29475. 
148 Decision No. 288 of 21-22 March 1991 of the Commission of the Cartagena Agreement. 
149 Decision No. 390 of 2 July 1996 of the Commission of the Cartagena Agreement. 
150 International Ship and Port Faci lity Security Code (ISPS Code). 
151 US Container Security Initiative. WT/TPR/S/289/Rev.1 • Peru 
 
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  REFERENCES 
Central Reserve Bank of Peru (2013), Memoria Anual 2012 , Lima. Viewed at: 
http://www.bcrp.gob.pe/docs/ Publicaciones/Memoria/201 2/memoria-bcrp-2012.pdf . 
International Monetary Fund (IMF) (2013a), Peru: Staff Report for the 2012 Article IV 
Consultation , February, Washington, D.C. 
IMF (2013b), World Economic Outlook , October, Washington, D.C. Viewed at: 
http://www.imf.org/external/pub s/ft/weo/2013/01/pdf/text.pdf . 
Peruvian Economics Institute (2009), El Reto de la Infraestructura al 2018: "La Brecha de 
Inversión en Infraestructura en el Perú" , Lima. Viewed at: http://ipe.org.pe/wp-
content/uploads/2009/09/estudio_el_reto_de_la_infraestructura_al_2018.pdf . 
Ministry of Agriculture (2012), Plan Estratégico Multianual del Sector Agricultura 2012-2016 , Lima. 
Viewed at: http://www.agroarequipa.gob.pe/ sites/default/files/PESEM.pdf . 
Ministry of Foreign Trade and Tourism (2012), Plan Estratégico Sectorial Multianual (PESEM) del 
Sector Comercio Exterior y Turismo 2012-2016 , Lima. Viewed at: 
http://www.mincetur.gob.pe/newweb/Po rtals/0/PESEM_201 2_2016_MINCETUR.pdf . 
Ministry of the Economy and Finance (2011), Texto de la Ley del Impuesto General a las Ventas e 
Impuesto Selectivo al Consumo , Lima. Viewed at: www.mef.gob.pe . 
Ministry of the Economy and Finance (2012), Marco Macroeconómico Multianual 2013-2015 , Lima. 
Viewed at: http://www.bcrp.gob.pe/docs/Publicaciones/Programa-Economico/mmm-2013-2015-
mayo.pdf . 
Ministry of Energy and Mining (2013), Anuario Minero 2012 , Lima. Viewed at: 
http://www.mem.gob.gt/wp-content/uploads/20 12/05/ANUARIO-ESTADÍSTICO-MINERO-2012.pdf . 
Ministry of Production (2012), Plan Estratégico Sectorial Multianual 2012-2016 , Lima. 
Ministry of Transport and Communications (2012), Plan Estratégico Sectorial Multianual: Sector 
Transportes y Comunicaciones 2012-2016 , Lima. Viewed at: 
http://www.mtc.gob.pe/portal/ho me/transparencia/pesem.pdf . 
World Trade Organization (WTO) (2007), Trade Policy Review of Peru , Geneva. 
Peru Opportunity Fund (2011), Diagnóstico de la Agricultura en el Perú , Lima. Viewed at: 
http://www.peruopportunity.org/up loads/posts/34/Diagno_stico_d e_la_Agricultura_en_el_Peru__-
_web.pdf . 
Supervisory Authority for Banking, Insurance and Pension Fund Managers (SBS) (2012), Memoria 
Anual 2011 , Lima. Viewed at: 
http://www.sbs.gob.pe/repositorioaps/ 0/0/jer/pub_memorias/Memoria_2011_2.pdf . 
International Telecommunication Union (ITU) (2012a), Telecommunication indicators , Geneva. 
ITU (2012b), Measuring the Information Society 2012 , Geneva. 
United Nations Conference on Trad e and Development (UNCTAD) (2011), General System 
of Preferences: List of Beneficiaries , UNCTAD/ITCD/TSB/Misc.62/Rev.5. Viewed at: 
http://unctad.org/en/Docs/itcdtsbmisc62rev5_en.pdf . 
 
UNCTAD (2012), World Investment Report, Geneva. WT/TPR/S/289/Rev.1 • Peru 
 
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  5  APPENDIX TABLES 
Table A1. 1 Merchandise exports by product, 2007-2012 
(US$ million and %) 
Description 2007  2008  2009  2010 2011 2012  
 (US$ million) 
Total 28,085  31,288  26,738  35,205 45,636 45,604  
 (% of exports) 
Total primary products 73.1 69.1 62.5 67.2 67.5 67.0 
Agriculture 14.9 16.9 18.2 16.9 17.3 16.8 
Food 13.7 15.7 17.1 15.8 16.3 15.9 
0814 Flours, meals and pellets, of meat 
or meat offal 4.4 4.6 5.4 4.6 3.9 3.9 
0711 Coffee, not roasted, whether or not 
decaffeinated; coffee husks and skins 1.5 2.1 2.2 2.5 3.5 2.2 
0567 Vegetables, prepared or preserved, 
n.e.s. 1.2 1.3 1.3 1.1 1.0 1.2 
0363 Molluscs and aquatic invertebrates, 
fresh, chilled, frozen, dried, salted 
or in brine 0.6 0.6 0.7 0.8 0.9 1.0 
0545 Other fresh or chilled vegetables 1.0 0.9 1.1 1.0 0.8 0.9 
4111 Fats and oils and their fractions, 
of fish or marine mammals, whether or 
not refined, but not chemically modified 0.9 1.2 1.0 0.8 0.7 0.8 
0575 Grapes, fresh or dried 0.2 0.3 0.5 0.5 0.7 0.7 
Agricultural raw materials 1.2 1.2 1.1 1.1 0.9 0.9 
2485 Wood of non-coniferous species 
(including strips and friezes for parquet flooring, not assembled), continuously shaped (tongued, grooved, rebated, chamfered, V-jointed, beaded) 0.2 0.2 0.2 0.2 0.1 0.2 
Mining 58.1 52.2 44.3 50.3 50.2 50.2 
Ores and other minerals 32.2 27.7 25.6 29.6 29.6 30.1 
2831 Copper ores and concentrates 16.4 15.7 14.7 17.5 17.1 18.0 
2874 Lead ores and concentrates 2.3 2.6 3.3 3.6 3.9 4.4 
2875 Zinc ores and concentrates 8.3 4.1 4.2 4.2 2.6 2.3 
2815 Iron ore and concentrates, 
not agglomerated 0.6 0.7 0.9 1.3 2.2 1.9 
2891 Precious metal ores 
and concentrates 0.3 0.4 0.8 0.9 1.6 1.4 
2878 Ores and concentrates 
of molybdenum, niobium, tantalum, titanium, vanadium and zirconium 3.5 3.4 1.0 1.4 1.3 1.0 
Non-ferrous metals 17.4 15.4 11.0 11.2 9.6 8.6 
6821 Copper, refined and unrefined; 
copper anodes for electrolytic refining; copper alloys, unwrought 9.2 8.7 7.4 7.6 6.3 5.0 
6861 Zinc and zinc alloys, unwrought 1.2 0.9 0.6 1.0 1.2 1.1 
6824 Copper wire 1.1 1.1 0.6 0.9 0.8 0.9 
6811 Silver (including base metals clad 
with silver), unwrought, unworked 
or semi-manufactured 2.0 2.0 0.8 0.5 0.5 0.7 
Fuels 8.6 9.1 7.7 9.5 11.0 11.5 
334 Petroleum oils 6.3 7.2 5.8 6.5 6.4 7.0 
3431 Natural gas, liquefied 0.0 0.0 0.0 0.8 2.8 2.9 
3330 Petroleum oils and oils obtained 
from bituminous minerals, crude 2.2 1.9 1.3 1.4 1.3 1.3 
Manufactures 12.0 13.2 12.2 10.9 10.7 11.6 
Iron and steel 0.3 0.5 0.5 0.4 0.3 0.4 
Chemicals 2.3 2.8 2.5 2.9 3.0 2.9 
5822 Other plates, sheets, film, foil 
and strip, of plasti cs, non-cellular and 
not reinforced, laminated, supported or 
similarly combined with other materials 0.4 0.4 0.4 0.4 0.4 0.5 WT/TPR/S/289/Rev.1 • Peru 
 
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  Description 2007  2008  2009  2010 2011 2012  
5312 Synthetic organic products of a 
kind used as fluorescent brightening agents or luminophores, whether or not chemically defined; colour lakes and preparations based thereon 0.1 0.1 0.1 0.4 0.3 0.3 
Other semi-manufactures 1.5 1.6 1.4 1.4 1.4 1.5 
Machinery and transport equipment 0.6 0.8 1.1 0.9 0.8 1.0 
Power-generating machinery 0.0 0.1 0.1 0.1 0.1 0.1 
7165 Generating sets 0.0 0.1 0.1 0.1 0.1 0.1 
Other non-electrical machinery 0.2 0.4 0.6 0.5 0.4 0.5 
Office machines and telecommunications 
equipment 0.0 0.1 0.1 0.1 0.1 0.1 
Other electrical machinery 0.2 0.2 0.2 0.1 0.1 0.1 
7731 Insulated (including enamelled 
or anodized) wire, cable (including co-axial cable) and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables 0.1 0.1 0.1 0.0 0.1 0.1 
Automotive products 0.0 0.0 0.1 0.1 0.1 0.1 
Other transport equipment 0.0 0.0 0.1 0.0 0.1 0.1 
Textiles 0.9 1.0 1.0 0.8 0.8 1.1 
Articles of apparel and clothing accessories 5.0 5.2 4.4 3.4 3.3 3.5 
8454 T-shirts, singlets and other vests, 
knitted or crocheted 1.7 1.6 1.6 1.1 1.2 1.2 
8437 Shirts 1.0 0.9 0.8 0.7 0.6 0.5 
Other consumer goods 1.4 1.4 1.3 1.1 1.0 1.1 
8931 Articles for the conveyance or 
packing of goods, of plastics; stoppers, lids, caps and other closures, of plastics 0.3 0.3 0.3 0.3 0.3 0.3 
Other 15.0 17.8 25.3 22.0 21.8 21.5 
Gold 14.9 17.7 25.3 21.9 21.8 21.2 
Source: WTO Secretariat estimates based on data obtained from the Comtrade database (SITC Rev.3) 
and the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table A1. 2 Merchandise imports by product, 2007-2012 
(US$ million and %) 
Description 2007  2008  2009  2010 2011 2012  
 (US$ million) 
Total 20,368  29,953  21,814  30,030 37,747 42,157  
 (% of imports) 
Total primary products 31.7 30.8 27.6 27.4 28.7 26.8 
Agriculture 12.0 11.4 12.4 12.0 11.9 11.4 
Food 10.4 10.0 11.0 10.3 10.2 10.0 
0449 Other maize, unmilled 1.6 1.3 1.4 1.5 1.6 1.3 
0412 Other wheat (including spelt) and 
meslin, unmilled 0.9 1.6 1.5 1.2 1.3 1.3 
0813 Oilcake and other solid residues 
(except dregs), whether or not ground or in the form of pe llets, resulting from 
the extraction of fats or oils from oil-seeds, oleaginous fruits and germs of cereals 1.1 1.1 1.6 1.3 1.1 1.2 
4211 Soya bean oil and its fractions 1.1 1.2 1.1 1.1 1.1 1.0 
0989 Food preparations, n.e.s. 0.5 0.5 0.7 0.6 0.5 0.5 
Agricultural raw materials 1.6 1.4 1.4 1.7 1.7 1.4 
2631 Cotton (other than linters), not carded 
or combed 0.4 0.3 0.3 0.5 0.6 0.3 
Mining 19.6 19.4 15.2 15.5 16.8 15.4 
Ores and other minerals 0.3 0.8 0.7 0.9 0.6 0.6 
2823 Other ferrous waste and scrap 0.1 0.3 0.2 0.4 0.2 0.3 
Non-ferrous metals 0.5 0.4 0.4 0.4 0.4 0.4 
6842 Aluminium and aluminium alloys, 
worked 0.2 0.2 0.2 0.2 0.2 0.2 
Fuels 18.8 18.3 14.1 14.2 15.7 14.4 
3330 Petroleum oils and oils obtained from 
bituminous minerals, crude 13.5 11.3 10.1 9.0 9.6 8.7 
334 Petroleum oils 4.1 5.7 3.4 4.7 5.8 5.4 
Manufactures 65.4 69.1 72.4 72.5 71.2 73.2 
Iron and steel 5.4 6.9 5.3 5.8 5.5 4.7 
Chemicals 14.6 13.6 15.1 14.7 14.5 13.9 
5989 Chemical products and preparations, 
n.e.s. 0.4 0.3 0.7 0.7 1.3 1.1 
5711 Polyethylene 1.1 1.1 0.9 1.1 1.0 1.0 
5751 Polymers of propylene or of other 
olefins 1.0 0.9 0.7 0.9 0.9 0.9 
5621 Mineral or chemical fertilizers, 
nitrogenous 1.2 1.2 1.0 0.8 0.9 0.8 
5429 Medicaments, n.e.s. 0.9 0.7 1.1 0.8 0.8 0.7 
Other semi-manufactures 7.1 7.1 8.1 7.9 7.5 8.2 
6911 Structures (excluding prefabricated 
buildings of group 811) and parts of structures (e.g., bridges and bridge sections) 0.3 0.3 0.5 0.5 0.5 0.8 
6255 Other new pneumatic tyres 0.4 0.3 0.4 0.4 0.4 0.5 
Machinery and transport equipment 30.4 33.7 34.9 35.0 34.7 36.9 
Power-generating machinery 0.9 1.6 1.5 1.1 1.8 1.3 
7148 Gas turbines, n.e.s. 0.1 0.2 0.1 0.1 0.4 0.4 
7165 Generating sets 0.2 0.6 0.4 0.2 0.4 0.3 
Other non-electrical machinery 10.8 10.8 11.6 10.7 10.8 11.8 
7232 Mechanical shovels, excavators and 
shovel-loaders, self-propelled 1.2 1.0 1.5 1.3 1.4 1.6 
7283 Machinery (other than machine tools) 
for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth, stone, ores  or other mineral 
substances, in solid (including powder or paste) form 0.6 0.4 0.6 0.7 0.7 0.8 
Agricultural machinery and tractors 0.2 0.3 0.3 0.2 0.3 0.3 WT/TPR/S/289/Rev.1 • Peru 
 
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  Description 2007  2008  2009  2010 2011 2012  
Office machines and telecommunications 
equipment 7.1 8.1 8.1 7.8 7.6 7.6 
7643 Transmission apparatus for radio 2.8 2.4 1.5 1.3 1.5 1.6 
7611 Television receivers, colour (including 
video monitors and video projectors), whether or not incorporating radio-broadcast receivers or sound- or video-recording or reproducing apparatus 0.8 0.8 0.9 1.1 1.1 1.2 
7522 Digital automatic data-processing 
machines, containing in the same housing 
at least a central processing unit and an 
input and output unit, whether or not 
combined 0.4 0.6 1.0 0.9 1.1 1.1 
Other electrical machinery 3.2 2.9 3.9 3.7 3.7 3.6 
7731 Insulated (including enamelled or 
anodized) wire, cable (including co-axial 
cable) and other insulated electric 
conductors, whether or not fitted with 
connectors; optical fibre cables 0.4 0.4 0.4 0.4 0.5 0.5 
7726 Boards, panels (including numerical 
control panels), consoles, desks, cabinets and other bases, equipped with two or more apparatus of subgroup 772.4 or 772.5, for electrical control or the distribution of electricity 0.2 0.2 0.4 0.2 0.5 0.4 
Automotive products 7.0 8.7 8.2 9.8 9.1 10.9 
7812 Motor vehicles for the transport 
of persons, n.e.s. 2.4 3.0 3.3 3.7 3.3 4.2 
7821 Motor vehicles for the transport 
of goods 2.2 2.7 2.4 3.3 3.1 3.7 
7831 Motor vehicles for the transport 
of ten or more persons, including the driver 0.7 0.8 0.7 0.9 1.0 0.9 
Other transport equipment 1.5 1.4 1.6 1.9 1.6 1.7 
7851 Motor cycles (including mopeds) 
and cycles fitted with  an auxiliary motor, 
with or without side-cars; side-cars 0.4 0.5 0.5 0.6 0.6 0.6 
Textiles 2.3 2.1 2.1 2.4 2.4  
Articles of apparel and clothing accessories 0.9 0.8 1.2 1.2 1.3 2.4 
Other consumer goods 4.6 4.9 5.8 5.5 5.4 1.4 
Other 3.0 0.1 0.0 0.1 0.1 0.1 
Source: WTO Secretariat estimates based on data obtained from the Comtrade database (SITC Rev.3) 
and the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table A1. 3 Merchandise exports by trading partner, 2007-2012 
(US$ million and %) 
Description 2007  2008  2009  2010 2011 2012  
 (US$ million) 
Total exports 28,085  31,288  26,738  35,205 45,636 45,604  
 (% of exports) 
America 46.9 45.6 41.6 42.8 40.0 40.6 
USA 19.9 18.7 17.2 16.5 13.3 14.2 
Other America 27.0 26.9 24.4 26.3 26.7 26.5 
Canada 6.6 6.2 8.6 9.5 9.2 7.5 
Chile 6.0 5.9 2.8 3.9 4.3 4.4 
Brazil 3.3 2.9 1.9 2.7 2.8 3.1 
Bolivarian Republic of Venezuela 2.7 3.5 2.3 1.5 2.0 2.7 
Ecuador 1.4 1.6 2.2 2.3 1.8 2.0 
Colombia 2.2 2.3 2.4 2.3 2.3 2.0 
Plurinational State of Bolivia 0.8 1.1 1.2 1.1 1.0 1.2 
Panama 1.4 0.9 0.3 0.7 0.7 1.1 
Mexico 1.0 1.0 0.9 0.8 1.0 0.9 
Argentina 0.4 0.5 0.3 0.4 0.4 0.4 
Europe 26.7 29.0 30.9 29.1 31.3 28.4 
EU(27) 18.0 17.7 15.8 17.9 18.2 17.0 
Germany 3.3 3.3 3.9 4.3 4.2 4.1 
Spain 3.5 3.3 2.8 3.3 3.7 4.0 
Italy 2.9 3.0 2.3 2.7 2.8 2.2 
Belgium 2.0 1.3 1.4 1.7 1.7 1.5 
Netherlands 2.4 2.5 1.7 1.8 1.9 1.5 
EFTA 8.5 11.1 14.9 11.0 13.0 11.3 
Switzerland and Liechtenstein 8.3 10.9 14.8 10.9 12.9 11.1 
Other Europe 0.2 0.2 0.2 0.2 0.1 0.2 
Turkey 0.2 0.2 0.2 0.2 0.1 0.2 
Russian Federation 0.0 0.1 0.1 0.2 0.2 0.2 
Africa 0.8 0.5 0.5 1.0 1.0 0.7 
South Africa 0.0 0.0 0.2 0.6 0.5 0.2 
Middle East 0.1 0.1 0.1 0.1 0.1 0.1 
Asia 25.1 24.2 26.2 26.1 26.8 29.2 
China 10.8 11.9 15.3 15.4 15.3 17.1 
Japan 7.8 5.9 5.1 5.1 4.8 5.7 
Korea, Republic of 3.2 1.8 2.8 2.5 3.7 3.4 
Chinese Taipei 1.4 1.9 1.0 0.8 0.8 0.6 
Thailand 0.2 0.1 0.2 0.3 0.6 0.5 
Hong Kong, China SAR 0.3 0.2 0.2 0.2 0.2 0.2 
Malaysia 0.0 0.0 0.0 0.0 0.0 0.1 
Singapore 0.0 0.0 0.0 0.0 0.0 0.0 
Other Asia 1.5 2.3 1.5 1.7 1.5 1.7 
India 0.8 0.9 0.4 0.6 0.5 0.8 
Indonesia 0.1 0.1 0.2 0.1 0.1 0.2 
Australia 0.3 0.3 0.4 0.3 0.3 0.2 
Viet Nam 0.2 0.2 0.3 0.2 0.2 0.2 
Other 0.4 0.6 0.6 0.7 0.7 0.8 
Source: WTO Secretariat estimates based on data obtained from the Comtrade database (SITC Rev.3) 
and the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table A1. 4 Merchandise imports by trading partner, 2007-2012 
(US$ million and %) 
Description 2007  2008  2009  2010 2011 2012  
 (US$ million) 
Total imports 20,368  29,953  21,814  30,030 37,747 42,157  
 (% of imports) 
America 58.3 56.2 55.4 52.7 52.4 49.8 
USA 17.6 18.9 19.8 19.5 19.7 18.8 
Other America 40.7 37.4 35.6 33.2 32.7 30.9 
Brazil 9.2 8.1 7.7 7.3 6.4 6.1 
Ecuador 7.4 5.9 4.7 4.7 5.0 4.8 
Argentina 5.5 5.3 4.0 3.7 4.9 4.6 
Colombia 4.8 4.3 4.3 4.4 3.9 4.0 
Mexico 3.7 3.9 3.4 3.8 3.7 3.7 
Chile 4.3 4.0 4.6 3.5 3.5 3.0 
Canada 1.6 1.5 1.9 1.8 1.5 1.4 
Plurinational State of Bolivia 0.7 0.8 1.3 1.0 0.8 0.5 
Paraguay 0.7 0.7 0.9 0.8 0.6 0.5 
Bolivarian Republic of Venezuela 1.1 1.1 1.2 0.3 0.5 0.5 
Europe 12.2 12.9 12.4 11.8 12.2 12.9 
EU(27) 11.5 12.1 11.3 10.6 10.9 11.9 
Germany 3.4 2.9 3.3 3.0 3.0 3.2 
Italy 1.8 2.4 1.8 1.4 1.6 1.9 
Spain 1.4 1.4 1.4 1.4 1.5 1.6 
Sweden 0.8 0.8 0.7 0.9 1.0 0.9 
France 0.9 0.9 0.9 0.8 0.8 0.8 
EFTA 0.5 0.4 0.6 0.4 0.4 0.4 
Switzerland and Liechtenstein 0.4 0.4 0.5 0.4 0.4 0.4 
Other Europe 0.1 0.3 0.5 0.7 0.9 0.6 
Turkey 0.1 0.3 0.5 0.7 0.9 0.6 
Russian Federation 0.7 0.7 0.8 0.6 1.4 0.8 
Africa 4.3 3.3 3.3 3.2 3.0 3.5 
Nigeria 1.4 0.2 2.0 2.2 0.9 2.2 
Angola 2.6 2.7 1.0 0.8 1.9 1.0 
South Africa 0.2 0.1 0.1 0.2 0.2 0.2 
Middle East 0.6 0.6 0.3 0.4 0.5 0.5 
Saudi Arabia 0.1 0.2 0.0 0.1 0.1 0.2 
Israel 0.2 0.2 0.2 0.1 0.1 0.1 
Asia 23.7 26.1 27.7 31.1 30.3 32.3 
China 12.1 13.6 15.0 17.1 16.7 18.5 
Japan 3.9 4.3 4.2 4.6 3.5 3.6 
Six East Asian Traders 5.4 5.5 5.8 6.6 7.0 6.8 
Korea, Republic of 2.6 2.6 3.0 3.5 4.0 3.9 
Chinese Taipei 1.3 1.0 1.2 1.1 1.2 1.1 
Thailand 0.7 1.1 0.9 1.2 1.2 1.1 
Malaysia 0.7 0.5 0.6 0.5 0.5 0.5 
Singapore 0.2 0.2 0.1 0.1 0.1 0.1 
Hong Kong, China SAR 0.1 0.1 0.1 0.1 0.0 0.0 
Other Asia 2.3 2.8 2.6 2.8 3.1 3.4 
India 1.2 1.7 1.4 1.7 1.6 1.8 
Indonesia 0.3 0.3 0.3 0.4 0.6 0.6 
Other 0.0 0.0 0.1 0.1 0.1 0.1 
Source: WTO Secretariat estimates based on data obtained from the Comtrade database (SITC Rev.3) 
and the Peruvian authorities for 2012. WT/TPR/S/289/Rev.1 • Peru 
 
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  Table A2. 1 Selected notifications to the WTO, 2013a 
WTO Agreement Description of requirement Frequency Document 
General Agreement on Tariffs and Trade 
Article XVII:4(a) State trading enterprises On a triennial and/or 
an annual basis G/STR/N/14/PER 
5 March 2013 
Agreement on Agriculture 
Articles 10 and 18.2 Export subsidies (Table ES:1) On an annual basis G/AG/PER/11 
8 July 2013 
Articles 10 and 18.2 Domestic support (Table DS:1) On an annual basis G/AG/PER/8 
21 October 2010 
Agreement on the Application of Sanitary and Phytosanitary Measures 
Annex B, paragraph 3 Enquiry point  Once only, 
subsequently 
notification of changes G/SPS/ENQ/26 
11 March 2011 
Annex B, paragraphs 5, 6 
and 7 Proposed or emergency 
measures Before or, in the case 
of urgent problems, 
immediately after the 
measure is taken G/SPS/N/PER/458 
12 November 2012 
Agreement on Technical Barriers to Trade 
Article 10.6 Proposed and adopted technical 
regulations Before or, in the case 
of urgent problems, 
immediately after the 
measure is taken G/TBT/N/PER/44 
3 December 2012 
Article 10.1 and 10.3 Enquiry point Once only, 
subsequently 
notification of changes G/TBT/ENQ/38/Rev.1 
8 July 2011 
Article 15.2 Implementation and 
administration measures Once only, 
subsequently 
notification of changes G/TBT/2/Add.29 
23 December 1996 
Paragraph C of the Code of 
Good Practice for the 
Preparation, Adoption and 
Application of Standards Standardizing bodies that have 
accepted the Code Once only and when 
withdrawing from the 
Code G/TBT/CS/N/7/Rev.1 
23 January 1997 
Agreement on Trade-Related Investment Measures (TRIMs) 
Article 5.1 TRIMs that are not in conformity 
with the provisions of the 
Agreement Once only G/TRIMS/N/1/PER/1 
18 April 1995 
Article 6.2 Publications in which TRIMs may 
be found Once only, 
subsequently 
notification of changes G/TRIMS/N/2/Rev.19/Add.4  
19 August 2010 
Agreement on Implementation of Article VI  of the GATT 1994 (Anti-Dumping Agreement) 
Article 16.4 Anti-dumping actions On a semi-annual basis G/ADP/N/237/PER 
19 March 2013 
Article 16.5 Investigating authority Once only, 
subsequently 
notification of changes G/ADP/N/14/Add.33 
G/SCM/N/18/Add.33 
17 April 2012 
Article 18.5 Laws and regulations Once only, 
subsequently 
notification of changes G/ADP/N/1/PER/2/Suppl.1 
G/SCM/N/1/PER/2/Suppl.1 
17 June 2009 
Agreement on Implementation of Article VII of the GATT 1994 (Agreement on Customs Valuation) 
Article 22.2 and Decision of 
the WTO Committee on 
Customs Valuation 
(12 May 1995) Legislation Once only, 
subsequently 
notification of changes G/VAL/N/1/PER/4 
2 November 2010 
Decision of the WTO 
Committee on Customs 
Valuation (12 May 1995) Replies to the list of questions Once only G/VAL/N/2/PER/1 
3 November 2010 
Notifications on the 
implementation of Article 
VII of the GATT 1994 Laws and regulations Once only G/VAL/N/3/PER/2 
2 November 2010 
Annex III, paragraph 1 Special provisions available to 
developing country Members Once only G/VAL/W/31 
1 April 1999 WT/TPR/S/289/Rev.1 • Peru 
 
- 102 - 
 
  WTO Agreement Description of requirement Frequency Document 
Annex III, paragraph 3 Special provisions available to 
developing country Members 
(reversal of the order 
of Articles 5 and 6) Once only G/VAL/W/156 
27 September 2006 
Agreement on Preshipment Inspection 
Article 5 Laws and regulations Once only, 
subsequently 
notification of changes G/PSI/N/1/Add.10 
19 July 2004 
Agreement on Rules of Origin 
Article 6.1 Implementation of rules 
of origin On an annual basis G/RO/71 
2 November 2011 
Article 5.1 Non-preferential rules of origin Once only, 
subsequently 
notification of changes G/RO/N/77 
12 March 2012 
Annex II, paragraph 4  Preferential rules of origin Ad hoc G/RO/N/83 
31 August 2012 
Agreement on Import Licensing Procedures 
Articles 1.4(a) and 8.2(b) Laws and regulations; rules and 
information concerning 
procedures for the submission 
of applications Once only, 
subsequently 
notification of changes G/LIC/N/1/PER/2/Rev.1 
G/LIC/N/3/PER/3/Rev.1 
31 May 2005 
Article 7.3 Questionnaire On an annual basis G/LIC/N/3/PER/8 
27 August 2012 
Agreement on Subsidies and Countervailing Measures 
Article 32.6 Laws and regulations Once only, 
subsequently 
notification of changes G/ADP/N/1/PER/2/Suppl.1 
G/SCM/N/1/PER/2/Suppl.1 
17 June 2009 
Article 25 Subsidies (new and full 
notification) Once only G/SCM/N/220/PER 
20 December 2012 
Article 25.11 Actions taken with respect 
to countervailing duties On a semi-annual basis G/SCM/N/250/PER 
20 March 2013 
Agreement on Safeguards 
Article 12.1(a) Investigation Once only, upon 
initiating an 
investigation relating to 
serious injury or threat 
thereof G/SG/N/6/PER/2 
25 March 2009 
Decision of the Committee 
on Safeguards of 6 
November 1995 Investigation Once only, where an 
investigation is 
terminated with no 
safeguard measure 
imposed G/SG/N/9/PER/2 
2 November 2009 
Article 12.6 Laws and regulations Once only, 
subsequently 
notification of changes G/SG/N/1/PER/2/Suppl.2  
31 August 2004 
G/SG/N/1/PER/2/Suppl.1  
3 November 2003  
Article 12.4 Measures Once only G/SG/N/7/PER/1/Suppl.2 
15 December 2004 
General Agreement on Trade in Services 
Article III:4  Enquiry point Once only S/ENQ/78/Rev.12 
22 December 2010 
Article III:3 New laws, regulations 
or guidelines On an annual basis S/C/N/611 
28 November 2011 
Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) 
Article 63.2 Laws and regulations Once only, 
subsequently 
notification of changes IP/N/1/PER/U/3 
13 August 2010 
Article 69 Contact point Once only, 
subsequently 
notification of changes IP/N/3/Rev.2/Add.2 
31 January 1997 
Decision of the Council for 
TRIPS of 21 November 1995 
(IP/C/5) Checklist of issues on 
enforcement Once only, 
subsequently 
notification 
of changes IP/N/6/PER/1 
16 August 2000 
Article 4(d) International agreements 
relating to the protection of 
intellectual property Ad hoc IP/N/4/PER/1 
19 August 1997 
a Regular notifications – refers only to the most recent notification. 
Source: WTO Secretariat. WT/TPR/S/289/Rev.1 • Peru 
 
- 103 - 
 
  Table A2. 2 New regional trade agreements sign ed by Peru that have entered into force 
since 2007a 
Agreement Description 
1. Free Trade Agreement with EFTA 
Date of signature/entry into force Signed on 24 June 2010 by the EFTA States and on 14 July 2010 by Peru/ 
1 July 2011 (Liechtenstein, Peru and Switzerland); 1 October 2011 
(Iceland and Peru); and 1 July 2012 (Norway and Peru). 
Implementing legislation Supreme Decree No. 006-2011-MINCETUR of 25 June 2011 
(for Switzerland and Liechtenstein); Supreme Decree No. 017-2011-MINCETUR of 30 September 2011 (Iceland); Supreme Decree No. 015-2012-MINCETUR of 30 June 2012 (Norway). 
End of implementation period 2020, Iceland; 2021, Norway; and 2027, Switzerland and Liechtenstein.  
Duty-free lines 97% of tariff lines in trade be tween Norway and Peru and Iceland and Peru 
and 98% of tariff lines in trade between Switzerland-Liechtenstein 
and Peru will be duty free. For Iceland and Norway, 34 of the 47 tariff headings subject to the price band sy stem are excluded from preferential 
treatment, while for 13 headings only the ad valorem  component is 
eliminated. For Switzerland and Liechten stein, 34 headings of the 47 tariff 
lines subject to the price band system are excluded from preferential treatment, while for 8 headings only the ad valorem  component is 
eliminated. 5 headings are subject to a tariff quota, hence the elimination of both the ad valorem  and specific components of the price band system.  
Goods-related provisions Market access; customs procedures; rules of origin; technical regulations, 
technical barriers to trade; sani tary and phytosanitary measures; 
anti-dumping, countervailing and safeguard measures . 
Services-related provisions Commitment to negotiate a chapter on trade in services. 
Other provisions Bilateral agreements on basic agricultural products; investment; 
competition; government procurement; intellectual  property; cooperation; 
dispute settlement. The Agreement establishes a Joint Committee 
to supervise the application of its provisions. 
Notification to the WTO WTO documents: WT/REG295/N/1 of 1 July 2011, WT/REG295/N/2 
of 21 September 2011 and WT/REG295/N/3 of 19 June 2012. 
Official websites www.efta.int/free-trade/free-tr ade-agreements/peru.aspx 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=85&Itemid=108  
2. Free Trade Agreement with Canada 
Date of signature/entry into force 29 May 2008/1 August 2009 
Implementing legislation Supreme Decr ee No. 014-2009-MINCETUR of 1 August 2009 
End of implementation period 2025 
Duty-free lines 98% of the tariff lines in Pe ru's schedule and 99% of the tariff lines in 
Canada's schedule will be duty free. Of the 47 tariff lines subject to the 
price band system, 26 headings are ex cluded from preferential treatment, 
while for 17 headings only the ad valorem  component is eliminated. 
4 headings are subject to tariff quotas, hence the elimination of both the ad valorem  and specific components of the price band system.  
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations, technical barriers to trade; sanitary and 
phytosanitary measures; anti-dumping, countervailing and safeguard 
measures; export restrictions . 
Services-related provisions Liberalization of trad e in services within th e meaning of Article V  
of the GATS. 
Other provisions Accession; investment; competition; environment; government 
procurement; intellectual property; exceptions, general or relating 
to security; labour; mutual recognit ion (services); dispute settlement. 
Notification to the WTO WTO documents: WT/REG270/N/1 and S/C/N/508 
of 4 August 2009. 
Official websites www.international.gc.ca/trade-agre ements-accords-commerciaux/agr-
acc/andean-andin/can-peru-perou.aspx?lang=en 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=60&Itemid=83.  
3. Free Trade Agreement with the Republic of Korea 
Date of signature/entry into force 21 March 2011/1 August 2011 
Implementing legislation Supreme Decree No. 015-2011-MINCETUR of 26 July 2011 
End of implementation period 2027 WT/TPR/S/289/Rev.1 • Peru 
 
- 104 - 
 
  Agreement Description 
Duty-free lines 99.9% of the tariff lines in Pe ru's schedule and 99.1% of the tariff lines 
in the Republic of Korea's schedule w ill be duty free. Of the 47 tariff lines 
subject to the price band system, four headings are excluded from 
preferential treatment, while for 43 subheadings only the ad valorem  
component of the price band system is eliminated.  
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations, technical barriers to trade; sanitary and 
phytosanitary measures; anti-dumping, countervailing and safeguard 
measures; export restrictions . 
Services-related provisions Liberalization of trad e in services within th e meaning of Article V 
of the GATS, including cross-border trade in services, financial services and telecommunications. 
Other provisions Investment; competition; environm ent; government procurement; 
intellectual property; exceptions, general or relating to security; labour; 
mutual recognition (services); balance-of-payment measures; 
dispute settlement. 
Notification to the WTO WTO documents: WT /REG298/N/1 and S/C/N/598 of 10 August 2011. 
Official websites www.fta.go.kr/new/pds/fta _korea/peru/eng.pdf 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=82&Itemid=105  
4. Free Trade Agreement with Costa Rica 
Date of signature/entry into force 26 May 2011/1 June 2013 
Implementing legislation Supreme Decree No. 005-2013-MINCETUR of 31 May 2013 
End of implementation period 2027 
Duty-free lines 98.5% of the tariff lines in Pe ru's schedule and 98.7% of the tariff lines 
in Costa Rica's schedule will be duty free. Of the 47 tariff lines subject to 
the price band system, 25 are excluded  from preferential treatment, while 
for 22 lines only the ad valorem  component of the price band system 
is eliminated.  
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations, technical barriers to trade; sanitary and 
phytosanitary measures; anti-dumping, countervailing and safeguard 
measures; export restrictions . 
Services-related provisions  Liberalization of trade in services within the me aning of Article V of the 
GATS, including cross-border trade in services, financial services and telecommunications. 
Other provisions  Investment; competition; environm ent; government procurement; 
intellectual property; exceptions, general or relating to security; labour; 
mutual recognition (services); dispute settlement. 
Notification to the WTO  WTO documents, WT/REG342/N/1 and S/C/N/696 of 6 June 2013. 
Official website www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=115&Itemid=138.  
5. Free Trade Agreement with Chile 
Date of signature/entry into force 22 August 2006/1 March 2009 
Implementing legislation Supreme Decree No. 010-2009-MINCETUR of 21 February 2009 
End of implementation period 2016 
Duty-free lines 99.9% of the tariff lines in Pe ru's schedule and 99.9% of the tariff lines 
in Chiles schedule will be duty free.  For some tariff lines subject to the 
price band system, only the ad valorem  component is eliminated.  
Goods-related provisions Market access; customs procedures; tariff quotas; rules of origin; technical 
regulations, technical barriers to trade; sanitary and phytosanitary 
measures; anti-dumping, countervailing and safeguard measures; export 
restrictions. 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including cross-border trade in services, financial services and telecommunications. 
Other provisions Accession; investment; competition; environment; government 
procurement; intellectual property; exceptions, general or relating to 
security; labour; balance-of-payment measures; mutual recognition 
(services); dispute settlement. 
Notification to the WTO WTO documents: WT /REG304/N/1 and S/C/N/613 of 1 December 2011. 
Official websites http://rc.direcon.cl/sites/rc.direcon.cl/files/bibliotecas/PER_TN_TLC_0309.
pdf. 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=72&Itemid=95. 
6. Free Trade Agreement with China 
Date of signature/entry into force 28 April 2009/1 March 2010 
Implementing legislation Supreme Decree No. 005-2010-MINCETUR of 25 February 2010 
End of implementation period 2026 WT/TPR/S/289/Rev.1 • Peru 
 
- 105 - 
 
  Agreement Description 
Duty-free lines 92% of the tariff lines in Pe ru's schedule and 95% of the tariff lines in 
China's schedule will be duty free. For the 47 tariff lines subject to the 
price band system, only the ad valorem  component is eliminated.  
Goods-related provisions Market access; customs procedures; rules of origin; technical regulations, 
technical barriers to trade; sanitary  and phytosanitary measures; anti-
dumping, countervailing and safeguard measures; export restrictions . 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including financial services and telecommunications. 
Other provisions Investment; competition; intellectual property; exceptions, general or 
relating to security; balance-of-pay ment measures; mutual recognition 
(services); dispute settlement. 
Notification to the WTO WTO documents: WT /REG281/N/1 and S/C/N/537 of 3 March 2010. 
Official websites http://fta.mofcom.gov.cn/topic/enperu.shtml . 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=42&Itemid=59. 
7. Trade Promotion Agreement with the United States 
Date of signature/entry into force 12 April 2006/1 February 2009 
Implementing legislation Supreme Decree No. 009-2009-MINCETUR of 17 January 2009 
End of implementation period 2025 
Duty-free lines 100% of the tariff lines in Peru's schedule and the United States' schedule 
will be duty free. For the 47 tariff li nes subject to the price band system, 
both the ad valorem  and specific components are eliminated. 
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations, technical barriers to trade; sanitary and 
phytosanitary measures; anti-dumping, countervailing and safeguard 
measures; export restrictions . 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including financial services and telecommunications. 
Other provisions  Accession; investment; competition; environment; government 
procurement; intellectual property; exceptions, general or relating to 
security; labour; mutual recognition (services); dispute settlement. 
Notification to the WTO WTO documents: WT/R EG260/N/1 and S/C/N/473 of 4 February 2009. 
Official websites www.ustr.gov/Trade_Agree ments/Bilateral/Peru_T PA/Section_Index.html 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=55&Itemid=78. 
8. Economic Partnership Agreement with Japan 
Date of signature/entry into force 31 May 2005/1 March 2012 
Implementing legislation Supreme Decree No. 004-2012-MINCETUR of 13 February 2012 
End of implementation period 2027 
Duty-free lines 95.4% of the tariff lines in Pe ru's schedule and 88.2% of the tariff lines 
in Japan's schedule will be duty free. Th e 47 tariff lines subject to the price 
band system are excluded from preferential treatment.  
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations; sanitary and phytosanitary measures; 
safeguard measures; export restrictions . 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including cross-border trade in services, telecommunications, and the entry and temporary stay of  nationals for business purposes. 
Other provisions Competition; government procurement;  intellectual property; exceptions, 
general and relating to securi ty; improvement of the business 
environment; dispute settlement. The Promotion, Protection and 
Liberalization of Investment Agr eement between Peru and Japan is 
incorporated into the Agreement. 
Notification to the WTO WTO documents: WT/R EG309/N/1 and S/C/N/617 of 24 February 2012. 
Official websites www.mofa.go.jp/region/latin/peru/epa201105/index.html . 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=92&Itemid=115 . 
9. Trade Integration Agreement with Mexico 
Date of signature/entry into force 6 April 2011/1 February 2012 
Implementing legislation Supreme Decree No. 001-2012-MINCETUR of 24 January 2012 
End of implementation period 2023 
Duty-free lines 97% of the tariff lines in Pe ru's schedule and 98% of the tariff lines in 
Mexico's schedule will be duty free. Of the 47 tariff lines subject to the 
price band system, 36 headings are ex cluded from preferential treatment, 
while for seven headings only the ad valorem  component is eliminated. 
four headings are subject to tariff quotas, hence the elimination of both the ad valorem  and specific components.  WT/TPR/S/289/Rev.1 • Peru 
 
- 106 - 
 
  Agreement Description 
Goods-related provisions Market access; customs procedures ; tariff quotas; rules of origin; 
technical regulations, technical barriers to trade; sanitary and 
phytosanitary measures; anti-dumping, countervailing and safeguard 
measures; export restrictions . 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including cross-border trade in services, financial services and telecommunications. 
Other provisions Accession; investment; competition; environment; government 
procurement; intellectual property; exceptions, general or relating to 
security; labour; balance-of-payment measures; mutual recognition 
(services); dispute settlement. 
Notification to the WTO  WTO documents: WT /REG308/N/1 and S/C/N/616 of 22 February 2012. 
Official websites www.economia.gob.mx/comunidad-ne gocios/comercio- exterior/tlc-
acuerdos/america-latina . 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=75&Itemid=98. 
10. Free Trade Agreement with Panama 
Date of signature/entry into force 25 May 2011/1 May 2012 
Implementing legislation Supreme Decree No. 008-2012-MINCETUR of 6 April 2012 
End of implementation period 2029 
Duty-free lines 98% of the tariff lines in Pe ru's schedule and 97% of the tariff lines in 
Panama's schedule will be duty free. Of the 47 tariff lines subject to the 
price band system, 33 headings are ex cluded from preferential treatment, 
while for eight headings only the ad valorem component is eliminated. 
six headings are subject to tariff quotas, hence the elimination of both the ad valorem  and specific components. 
Goods-related provisions Market access; customs procedures; tariff quotas; rules of origin; technical 
regulations, technical barriers to trade; sanitary and phytosanitary 
measures; anti-dumping, countervailing and safeguard measures; export 
restrictions. 
Services-related provisions Liberalization of trade in  services within the meaning of Article V of the 
GATS, including cross-border trade in services, financial services, maritime services and telecommunications. 
Other provisions Accession; investment; competition; environment; government 
procurement; intellectual property; exceptions, general or relating to 
security; labour; balance-of-payment measures; mutual recognition 
(services); dispute settlement; transparency. Creation of the Free Trade 
Commission to supervise the implementation and further development 
of the Agreement. 
Notification to the WTO WTO documents: WT /REG313/N/1 and S/C/N/642/Rev.1 of 1 May 2012. 
Official websites www.mici.gob.pa/detalle.php?cid=15&sid=57&clid=64&id=2737 . 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=112&Itemid=135. 
11. Free Trade Agreement with Singapore 
Date of signature/entry into force 29 May 2008/1 August 2009 
Implementing legislation Supreme Decr ee No. 014-2009-MINCETUR of 1 August 2009 
End of implementation period 2025 
Duty-free lines 100% of the tariff lines in Peru's schedule and 100% of the tariff lines 
in Singapore's schedule will be duty free. For the 47 lines subject to the price band system, only the ad valorem  component is eliminated.  
Goods-related provisions Market access; customs procedures; rules of origin; technical regulations, 
technical barriers to trade; sani tary and phytosanitary measures; 
anti-dumping, countervailing and safe guard measures; export restrictions.  
Services-related provisions Liberalization of trad e in services within th e meaning of Article V 
of the GATS.  
Other provisions Accession; investment; competition; government procurement; intellectual 
property; exceptions, general or relati ng to security; balance-of-payment 
measures; mutual recognition (services); dispute settlement.  
Notification to the WTO WTO documents: WT/REG269/N/1 and S/C/N/502 3 August 2009. 
Official websites www.fta.gov.sg/fta_p esfta.asp?hl=39 . 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=65&Itemid=88.  
12. Protocol with Thailand to Accelerate the Liberalization of Trade in Goods and Trade Facilitation, 
and the Additional Protocols thereto 
Date of signature/entry into force 19 November 2005/31 December 2011 
Implementing legislation Supreme Decree No. 022-2011-MINCETUR of 28 December 2011 
End of implementation period 2016 WT/TPR/S/289/Rev.1 • Peru 
 
- 107 - 
 
  Agreement Description 
Duty-free lines 71% of the tariff lines in Pe ru's schedule and 72% of the tariff lines in 
Thailand's schedule will be duty free. The 47 lines subject to the price  band system were not negotiated  as part of this Protocol. 
Goods-related provisions  Market access; customs procedures; rules of origin; technical barriers to 
trade; sanitary and phytosanitary measures.  
Services-related provisions  Services-related provisions were not negotiated. 
Other provisions  Dispute settlement. 
Notification to the WTO  Not notified to the WTO. 
Official website www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=45&Itemid=69.  
13. Trade Agreement between Colombia and Peru and the European Union 
Date of signature/entry into force 26 June 2012/1 March 2013 for the European Union and Peru 
Implementing legislation Supreme Decree No. 002-2013-MINCETUR of 28 February 2013  
End of implementation period 2030 
Duty-free lines 98% of the tariff lines in Peru 's schedule and 95% of the tariff lines in the 
European Union's schedule will be duty  free. Of the 47 lines subject to the 
price band system, three headings are excluded from preferential treatment, while for nine headings only the ad valorem  component is 
eliminated and for 17 headings both the ad valorem  and specific 
components are eliminated. 18 headings  are subject to ta riff quotas, hence 
the elimination of both the ad valorem  and specific components. 
Goods-related provisions Market access; customs procedures; tariff quotas; rules of origin; technical 
regulations, technical barriers to trade; sanitary and phytosanitary 
measures; anti-dumping, countervailing and safeguard measures; 
export restrictions . 
Services-related provisions Liberalization of trad e in services within th e meaning of Article V 
of the GATS, including cross-border trade in services, financial services and telecommunications. 
Other provisions Investment; competition; environm ent; government procurement; 
intellectual property; exceptions, general or relating to security; labour; 
mutual recognition (services); dispute settlement. 
Notification to the WTO WTO documents:  WT/REG333/N/1/Rev.1 and S/C/N/681/Rev.1 
of 21 March 2013. 
Official websites http://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:2012:354:SOM:EN:HTML 
http://trade.ec.europa.eu/doclib/press/index.cfm?id=691. 
www.acuerdoscomerciales. gob.pe/index.php?optio n=com_content&view=c
ategory&layout=blog&id=52&Itemid=75.  
a Not including the Partial Scope Trade Agreement with the Bolivarian Republic of Venezuela, which 
entered into force on 1 August 2013, after the deadline for the completion of this report. 
Source: WTO Secretariat, based on information provided by the authorities. WT/TPR/S/289/Rev.1 • Peru 
 
- 108 - 
 
  Table A3. 1 Principal origin criteria under the regional agreements signed by Peru 
since 2007 
Agreement Change of 
classification1 Value added criterion Main products subject  
to specific 
requirements 
Free Trade Agreement 
with EFTA (Iceland, Liechtenstein, Norway and Switzerland) Change of chapter, 
heading and subheading In general, 50% of the 
ex-works price of the product Specific origin 
requirements for the entire tariff universe 
Free Trade Agreement 
with Canada Change of chapter, 
heading and subheading In general, 65% of the 
transaction value of the 
product. Provides for a 
method whereby the value 
of non-originating 
materials does not exceed 
a certain percentage of 
the transaction value. 
For goods classified under 
headings 8701 to 8709, 
it is also possible to apply 
the net cost method. Specific origin 
requirements for the 
entire tariff universe 
Free Trade Agreement with the Republic of Korea Change of chapter, 
heading and subheading In general, 50% of the 
f.o.b. value of the product. 
Provides for the build-up 
and build-down method. Specific origin 
requirements for the entire tariff universe 
Free Trade Agreement 
with Costa Rica  Change of chapter, 
heading and subheading  In general, 50% of the 
f.o.b. value of the 
product. 
Provides for the 
build-down method.  Specific origin 
requirements for the 
entire tariff universe 
Free Trade Agreement 
with Chile  Heading (general rule) 50% of the f.o.b.value 
of the product (general rule) Textiles and clothing, 
products derived from zinc and copper, pharmaceuticals, agri-chemicals, fruit juices and nectars 
Free Trade Agreement 
with China  Change of chapter, 
heading and subheading In general, 50% of the 
f.o.b. value of the 
product. 
Provides for the 
build-down method. Specific origin 
requirements for the 
entire tariff universe 
Trade Promotion 
Agreement with the United States  Change of chapter, 
heading and subheading In general, 35% 
(build-up) and 45% (build-down) of the adjusted value of the product, using the build-up and build-down formula, respectively. 
Provides for the net cost 
method for the automotive industry. Specific origin 
requirements for the entire tariff universe 
Economic Partnership 
Agreement with Japan  Change of chapter, 
heading and subheading In general, 50% of the 
f.o.b. value of the 
product. 
Provides for the 
build-down method. Specific origin 
requirements for the 
entire tariff universe 
                                               
1 Under all the agreements signed by Peru, certain goods must be produced using materials originating 
in the Parties. WT/TPR/S/289/Rev.1 • Peru 
 
- 109 - 
 
  Agreement Change of 
classification1 Value added criterion Main products subject  
to specific 
requirements 
Trade Integration 
Agreement with Mexico  Change of chapter, 
heading and subheading In general, 50% of the 
transaction value of the product. 
Provides for the 
build-down method. Specific origin 
requirements for the entire tariff universe 
Free Trade Agreement 
with Panama  Change of chapter, 
heading and subheading  In general, 50% of the 
f.o.b. value of the 
product. 
Provides for the 
build-down method. Specific origin 
requirements for the 
entire tariff universe 
Free Trade Agreement 
with Singapore  Change of chapter, 
heading and subheading In general, 40% and 45% 
of the f.o.b. value of the product. 
Provides for the 
build-down method. Specific origin 
requirements for the entire tariff universe 
Protocol with Thailand to 
Accelerate the 
Liberalization of Trade in 
Goods and Trade 
Facilitation, and the 
Additional Protocols 
thereto  Change of chapter, 
heading and subheading In general, 35% and 45% 
of the f.o.b. value 
of the product. Products subject to tariff 
liberalization due to an 
early harvest 
Trade Agreement with 
the European Union  Change of heading  In general, the value 
of the materials used must not exceed 40% of the ex-works price of the product. Specific origin 
requirements for the entire tariff universe 
Source: Information provided by  the Peruvian authorities. WT/TPR/S/289/Rev.1 • Peru 
 
- 110 - 
 
  Table A3. 2 Preferential quotas, 2012 
Tariff 
subheading Product Country 
subject to 
the quota Tariff 
quota Quota 
volume Percentage of 
quota not used  
   In Out (tonnes) (%) 
0210200000 Meat of bovine animals Switzerland 0 11 100 100.0 
0406100000 
Cheese Switzerland 0 0 
500 100.0 0406200000 0 0 
0406300000 0 0 
0406400000 0 0 
0406904000 0 0 
0406905000 0 0 
0406906000 0 0 
0406909000 0 0 
0203110000 
Meat of swine Canada 0 6 
376  
0203120000 0 6  
0203191000 0 6  
0203192000 0 6  
0203193000 0 6  
0203210000 0 6  
0203220000 0 6  
0203291000 0 6  
0203292000 0 6  
0203293000 0 6 100.0 
0203299000 0 6  
0206300000 0 0  
0206410000 0 0  
0206490000 0 0  
0209101000 0 11  
0209109000 0 11  
0209900000 0 11  
0210110000 0 6  
0210120000 0 6  
0210190000 0 6  
0201300090 Meat, boneless, rib cut Canada  0 11 116 100.0 0202300090 0 11 
0206100000 
Offal Canada  0 0 
5,788 100.0 0206210000 0 0 
0206220000 0 0 
0206290000 0 0 
0207130011 
Chicken leg quarters 
(with bone in) USA 0 6 
15,117 85.0 0207140021 0 6 
1602321011 0 6 
1602329011 0 6 
0201300010 
Standard quality meat of 
bovine animals USA 0 11 
953 56.6 0201300090 0 11 
0202200000 0 11 
0202300010 0 11 
0202300090 0 11 
1005901100 Yellow maize USA 0 0 595,508 100.0 
0206210000 
Offal of bovine animals USA 0 0 
11,910 100.0 0206220000 0 0 
0206290000 0 0 
0504001000 0 0 
1507901000 Refined soya-bean oil USA 0 0 8,103 100.0 1507909000 0 0 WT/TPR/S/289/Rev.1 • Peru 
 
- 111 - 
 
  Tariff 
subheading Product Country 
subject to 
the quota Tariff 
quota Quota 
volume Percentage of 
quota not used  
0402101000 
 
 
 
 
 
 
 
 
Powdered milk  
 
 
 
 
 
 
 
USA 0 0 
 
 
 
 
 
 
 
 
6,505  
 
 
 
 
 
 
 
               0.0 0402109000 0 0 
0402211100 0 0 
0402211900 0 0 
0402219100 0 0 
0402219900 0 0 
0402291100 0 0 
0402291900 0 0 
0402299100 0 0 
0402299900 0 0 
0402911000 0 0 
0402919000 0 0 
0402991000 0 0 
0402999000 0 0 
0403100020 Yogurt USA 0 0 93 100.0 0403100090 0 0 
0405100000 
Butter USA 0 0 
666 100.0 0405200000 0 0 
0405902000 0 0 
0405909000 0 0 
0406100000 
Cheese USA 0 0 
3,512 98.5 0406200000 0 0 
0406300000 0 0 
0406400000 0 0 
0406904000 0 0 
0406905000 0 0 
0406906000 0 0 
0406909000 0 0 
2105001000 Ice cream USA 0 0 399 93.1 2105009000 0 6 
0403901000 
Processed milk products USA 0 0 
2,662 99.3 0403909010 0 0 
0403909090 0 0 
1901101000 0 0 
1901109100 0 0 
1901109900 0 0 
1006109000 
Rice USA 0 0 
89,457 100.0 1006200000 0 0 
1006300000 0 0 
1006400000 0 0 
0402911000 Evaporated milk and 
dulce de leche  Mexico  0 0 1,833 100.0 1901902000 0 0 
0713339100 
Beans Mexico  0 6 
1,833 43.9 0713339200 0 6 
0713339900 0 6 
0803901100 Bananas Mexico  0 6 1,833 100.0 
0804400000 Avocados Mexico  0 6 7,333 100.0 
0805100000 Oranges Mexico  0 6 1,512 100.0 
0805400000 
Grapefruit and lemons Mexico  0 6 
1,008 100.0 0805501000 0 6 
0805502100 0 6 
0805502200 0 6 WT/TPR/S/289/Rev.1 • Peru 
 
- 112 - 
 
  Tariff 
subheading Product Country 
subject to 
the quota Tariff 
quota Quota 
volume Percentage of 
quota not used  
0904211010 
Dried chillies (paprika) Mexico  0 0 
3,666 100.0 0904211090 0 0 
0904219000 0 0 
0904221000 0 0 
0904229000 0 0 
1005901100 
Maize Mexico  0 0 
91,666 100.0 1005901200 0 0 
1005902000 0 0 
1005903000 0 0 
1005904000 0 0 
1005909000 0 0 
1801001100 
Cocoa beans Mexico  0 6 
916 100.0 1801001900 0 6 
1801002000 0 6 
1803100000 
Cocoa paste, butter, fat, 
oil and powder  Mexico  0 6 
1,833 100.0 1803200000 0 6 
1804001100 0 6 
1804001200 0 6 
1804001300 0 6 
1804002000 0 6 
1805000000 0 6 
1901101000 
Dairy preparations Mexico  0 0 
2,440 100.0 1901109100 0 0 
1901109900 0 0 
6402190000 
Footwear (pairs) Mexico  0 11 
183,333 100.0 6402200000 0 11 
6402910000 0 11 
6402991000 0 11 
6402999000 0 11 
6404200000 0 11 
6405200000 0 11 
0201100000 
Meat of bovine animals Panama 0 11 
599 100.0 0201200000 0 11 
0201300010 0 11 
0201300090 0 11 
0202100000 0 11 
0202200000 0 11 
0202300010 0 11 
0202300090 0 11 
0210110000 Ham Panama  0 6 67 100.0 
0402991000 Condensed milk Panama  0 0 67 100.0 
1103130000 
Maize and potato starch Panama  0 0 
67 100.0 1108120000 0 6 
1108130000 0 6 
1901902000 Dulce de leche Panama  0 0 33 100.0 
2309909000 Food for animals Panama  0 0 3,333 100.0 
Source: WTO estimates based on data from the authorities. WT/TPR/S/289/Rev.1 • Peru 
 
- 113 - 
 
  Table A3. 3 State enterprises, 2012 
Operating enterprise  Attached to State 
participation 
% 
Mining  
Activos Mineros S.A.C. ACTIVOS MINEROS Ministry of Energy 
and Mining 100.00 
Perupetro S.A. PERUPETR O Ministry of Energy 
and Mining 100.00 
Petróleos del Perú S.A. PETROPERU Ministry of Energy 
and Mining 100.00 
Finance  
Banco Agropecuario S.A. AGROBANCO Ministry of the Economy 
and Finance 100.00 
Banco de la Nación BANCO DE LA NACIÓN Ministry of the Economy 
and Finance 100.00 
Corporación Financiera de Desarrollo 
S.A. COFIDE Ministry of the Economy 
and Finance 98.95 
Electricity and water  
Empresa de Administración de 
Infraestructura Eléctrica S.A. ADINELSA Ministry of Energy 
and Mining 100.00 
Empresa de Generaci ón Eléctrica de 
Arequipa S.A.  EGASA Ministry of Energy 
and Mining 100.00 
Empresa de Generación Eléctrica 
Machupicchu S.A.  EGEMSA Ministry of Energy 
and Mining 100.00 
Empresa de Generación Eléctrica del 
Sur S.A.  EGESUR Ministry of Energy 
and Mining 100.00 
Empresa Regional de  Servicio Público 
de Electricidad del Oriente S.A.  ELECTRO ORIENTE Ministry of Energy 
and Mining 100.00 
Empresa Regional de  Servicio Público 
de Electricidad del Sur Este S.A.A. ELECTRO SUR ESTE Ministry of Energy 
and Mining 99.63 
Empresa Concesionaria de Electricidad 
de Ucayali S.A. ELECTRO UCAYALI Ministry of Energy 
and Mining 99.91 
Empresa Regional de  Servicio Público 
de Electricidad del Centro S.A.  ELECTROCENTRO Ministry of Energy 
and Mining 100.00 
Empresa Regional de  Servicio Público 
de Electricidad Electronoroeste S.A. ELECTRONOROESTE Ministry of Energy 
and Mining 100.00 
Empresa Regional de  Servicio Público 
de Electricidad del Norte S.A  ELECTRONORTE Ministry of Energy 
and Mining 99.99 
Empresa de Electricidad del Perú S.A.  ELECTROPERU Ministry of Energy 
and Mining 21.57 
Empresa Regional de  Servicio Público 
de Electricidad de Puno S.A.A. ELECTROPUNO Ministry of Energy 
and Mining 99.61 
Empresa Regional de  Servicio Público 
de Electricidad S.A.  ELECTROSUR Ministry of Energy 
and Mining 100.00 
Empresa Regional de  Servicio Público 
de Electricidad Electro Norte Medio 
S.A  HIDRANDINA Ministry of Energy 
and Mining 95.18 
Empresa de Generación Eléctrica San 
Gabán S.A.  SAN GABAN Ministry of Energy 
and Mining 100.00 
Sociedad Eléctrica del Sur Oeste S.A.  SEAL Ministry of Energy 
and Mining 87.44 
Servicio de Agua Potable y 
Alcantarillado de Lima S.A. SEDAPAL Ministry of Housing, 
Construction and 
Sanitation 100.00 
Transport and infrastructure  
Corporación Peruana de Aeropuertos y 
Aviación Comercial S.A.  CORPAC Ministry of Transport 
and Communications 100.00 
Empresa Nacional de Puertos S.A.   ENAPU Ministry of Transport 
and Communications 100.00 
Fondo Mivivienda S.A.  FONDO MIVIVIENDA Ministry of Housing, 
Construction and 
Sanitation 100.00 
Other 
Fábrica de Armas y Municiones del FAME Ministry of Defence 100.00 WT/TPR/S/289/Rev.1 • Peru 
 
- 114 - 
 
  Operating enterprise  Attached to State 
participation 
% 
Ejército S.A.C.  
Servicios Industriales de la Marina 
S.A.  SIMA PERU Ministry of Defence 100.00 
Servicios Postales del Perú S.A. SERPOST Ministry of Transport 
and Communications 100.00 
Editora Perú S.A. EDITORA PERU n.a. 100.00 
Empresa Nacional de la Coca S.A.  ENACO n.a. 100.00 
n.a. Not available. 
Source: FONAFE and PETROPERU. WT/TPR/S/289/Rev.1 • Peru 
 
- 115 - 
 
  Table A4. 1 Analysis of the MFN tariff, 2013 
Product description Applied tariff 
Bound tariffa No. of 
lines 
 Average Range Coefficient 
of variation 
    (%) (%) (CV) (%) 
Total 7,554 3.2 0 - 11 1.2 0 - 68 
By WTO category      
Agricultural products 1,043 3.9 0 - 11 0.8 30 - 68 
 - Animals and animal products 141 5.3 0 - 11 0.6 30 - 30 
 - Dairy products 38 0.0 0 - 0 n.a. 30 - 68 
 - Fruit, vegetables and 
garden produce 297 5.2 0 - 11 0.6 30 - 30 
 - Coffee and tea 32 6.3 0 - 11 0.5 30 - 30 
 - Cereals and cereal preparations 136 2.4 0 - 11 1.3 30 - 68 
 - Oilseeds, fats and oils and 
their products 113 2.3 0 - 6 1.3 30 - 30 
 - Sugar and confectionery 28 0.9 0 - 6 2.4 30 - 68 
 - Beverages, alcohol and tobacco 73 6.1 0 - 11 0.2 30 - 30 
 - Cotton 8 6.0 6 - 6 0.0 30 - 30 
 - Other agricultural  products n.e.s. 177 2.9 0 - 6 1.0 30 - 30 
Non-agricultural products 
(including petroleum) 6,511 3.0 0 - 11 1.3 0 - 30 
 - Non-agricultural products 
(excluding petroleum) 6,463 3.1 0 - 11 1.3 0 - 30 
 - - Fish and fish products 271 0.4 0 - 6 3.6 30 - 30 
 - - Mineral products and metals 1,104 1.5 0 - 6 1.8 15 - 30 
 - - Chemicals and photographic 
products 1,569 2.1 0 - 6 1.4 0 - 30 
 - - Wood, wood pulp, paper 
and furniture 369 4.0 0 - 6 0.7 30 - 30 
 - - Textiles 690 8.4 0 - 11 0.4 30 - 30 
 - - Clothing 285 11.0 6 - 11 0.0 30 - 30 
 - - Leather, rubber, footwear 
and travel articles 215 4.1 0 - 11 1.0 30 - 30 
 - - Non-electrical machinery 777 0.6 0 - 11 3.7 0 - 30 
 - - Electrical machinery 397 2.1 0 - 6 1.4 0 - 30 
 - - Transport equipment 214 1.1 0 - 6 2.1 30 - 30 
 - - Non-agricultural products n.e.s. 572 3.6 0 - 6 0.8 0 - 30 
 - Petroleum 48 0.0 0 - 0 n.a. 30 - 30 
By ISIC sectorb      
Agriculture and fishing 484 3.3 0 - 11 0.9 30 - 68 
Mining 112 2.7 0 - 6 1.1 30 - 30 
Manufacturing 6,957 3.2 0 - 11 1.2 0 - 68 
n.a. Not applicable. 
a Range. The bindings are in Harmonized System 2002. 
b ISIC (Rev.2), excluding electricity (one line). 
Source: WTO Secretariat estimates based on data provided by the authorities. 
 
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