WT/TPR/M/393  
18 December 2019  
(19-8785) Page: 1/50 
Trade Policy Review Body  
22 and 24 October 2019   
 
  
TRADE POLICY REVIEW  
PERU 
MINUTES OF THE MEETING  
Chairperson: H.E. Mr Manuel A.J. Teehankee (Philippines)  
CONTENTS  
 
1  INTRODUCTORY REMA RKS BY THE CHAIRPERS ON ................................ ......................  2 
2  OPENING STATEMENT  BY THE REPRESENTATI VE OF PERU  ................................ ..........  3 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ .............  12 
4  STATEMENTS BY MEM BERS  ................................ ................................ .......................  14 
5  REPLIES BY THE RE PRESENTATIVE OF PERU  AND ADDITIONAL COMM ENTS  .............  43 
6  CONCLUDING REMARK S BY THE CHAIRPERSON  ................................ ........................  49 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by Peru are reproduced in document WT/TPR/M/ 393/Add.1  and will be available online at 
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/393 • Peru  
 
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  1  INTRODUCTORY RE MARKS BY THE CHAIRPE RSON  
1.1.  The fifth Trade Policy Review of Peru was held on 22 and 24 October 2019. The Chairperson, 
H.E. Mr. Manuel Teehankee (Philippines), welcomed the delegation of Peru, headed by M Rs. Sayuri 
Bayona Matsura , Vice Minister of Foreign Trade ; H.E. Ambassador  Silvia  Elena Alfaro Espinosa , 
Permanent Representative of Peru to the WTO; the rest of the delegation  from Peru, and other 
colleagues from the Mission in Geneva; and the discussant, H.E.  Ambassador Mr. T an Hung Seng  
(Singapor e). 
1.2.  The Chairperson reminded Members that the United Nations Industrial Development 
Organization (UNIDO) was participating as an ad hoc observer in this TPR.  
1.3.  The Chairperson recalled the purpose of TPRs and the main elements of procedures for the 
meeting. The report by Peru was contained in document WT/TPR/G/39 3 and that of the WTO 
Secretariat in document WT/TPR/S/39 3. 
1.4.  Questions by the following delegations were submitted in writing before the deadline: 
Indonesia; Canada; Chinese Taipei; New Zealand; Guatemala; Chile; Singapore; European Union; 
Ukraine; Argentina; Hong Kong, China; Uruguay; Mexico; China; Brazil; United States; and Russian 
Federation . The following delegations submitted written questions after the deadline: Ecuador; 
Colombia; Australia; Costa Rica; Malaysia; the Philippines; Iceland; and Thailand . 
1.5.  At the time of its previous Review, Members had commended Peru on its remarkable economic 
performance, with an annual average GDP growth rate of  almost 7%, based on prudent 
macroeconomic management and the continuation of structural reforms. Members had then 
highlighted Peru 's achievement in almost doubling its merchandise exports and quadrupling FDI 
inflows during the review period. Members  had a lso welcomed the improvements made regarding 
poverty alleviation and reduction in unemployment and had invited Peru to step up efforts regarding 
further social inclusion and investment in human capital and infrastructure.  
1.6.  Peru had also been commended for i ts reforms in the area of trade facilitation, by making 
operational a single window, and by using risk analysis to clear merchandise through customs and 
had been  encouraged to make further efforts to facilitate trade. Members had highly appreciated 
Peru's unilateral decision to reduce its MFN simple applied tariff, but  had expressed some concerns 
with respect to the coverage and application of the Selective Consumption Tax, the use of the 
drawback and the application of trade remedies. Questions had also been raised with regards to 
Peru's incentives schemes, and the price band system.  
1.7.  From reviewing  the reports presented for the current Review, Members  noted that, during the 
review period , Peru ha d continued on  the path of solid growth, with GDP expanding at an average 
rate of some 4%, and it had been an active participant in the multilateral trading system. Since its 
last Review, Peru ha d continued to lower tariffs, introduce d trade facilitation measures, and r educed 
the number of anti -dumping measures in place. However, challenges with respect to social and 
financial inclusion remain ed, and Peru ha d yet to complete the updating of its competition policy 
legislation. It was to be interesting to hear Peru 's views  with respect to these and other issues, such 
as intellectual property, government procurement, the use of the price band system for agricultural 
products, fisheries, and new mining legislation, among others.  
1.8.  Peru received over 360 advance written question s from 26 delegations for this Review, covering 
a broad range of topics. The Chairperson looked forward to hearing Peru 's updates on these issues.  
1.9.  The Chairperson closed his introductory remarks by wishing Peru a very successful fifth Trade 
Policy Review.  
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  2  OPENING STATEMENT BY  THE REPRESENTATIVE OF PERU ( MRS. SAYURI BAYONA 
MATSURA ) 
2.1.  On behalf of the delegation of Peru, my cordial greetings to all present. My special thanks go 
to the Chair of the Trade Policy Review Body, Ambassador Manuel Teehankee, of the Philippines, for 
his introductory remarks; to the WTO's Members, for participating in this fifth trade policy review of 
Peru, and to Ambassador Tan Hung Seng of Singapore for agreeing to serve as discussant. My thanks 
also go to the WTO Secretariat for the  preparation of its report on Peruvian trade policy.  
2.2.  Recognizing the great importance of the Trade Policy Review Mechanism in observing the 
principle of transparency in the multilateral trading system, I take this opportunity to share with you 
the main asp ects of our economic and trade policies, the results obtained during the review period 
and the policies and plans Peru has been implementing to improve its competitiveness in the years 
ahead.  
2.3.  During the period 2013 –2018, the Peruvian economy stood out as o ne of the fastest -growing 
economies in Latin America, despite an unfavourable international context and the impact of natural 
disasters in northern Peru.  
2.4.  Real GDP during this period grew on average by 3.7%. This means that the Peruvian economy 
has maintain ed uninterrupted growth for 20 years running, accelerating growth in GDP per capita, 
which rose from USD  6,600 in 2013 to USD  7,000 in 2018.  
2.5.  This has been possible because the country has maintained solid macroeconomic fundamentals, 
as reflected in an aver age inflation rate of 2.9% between 2013 and 2018; a sound fiscal position; 
low public debt, accounting in 2018 for 23.7% of GDP; and strengthened external accounts, with 
international reserves equivalent to 26.9% of GDP in 2018. Thanks to those improvement s, Peru 
has the region's second -highest credit rating and lowest country -risk. 
2.6.  For the period 2020 -2023, the Peruvian economy is expected to achieve growth rates above 
4%, driven mainly by increases in private and public investment and by economic policies  to improve 
the country's productivity and competitiveness. As a consequence of these efforts, Peru has 
maintained its leadership position for growth in the region.  
2.7.  Economic growth and stable policies have enabled a steady reduction in the levels of povert y 
and inequality. Between 2013 and 2018, total poverty contracted from 23.9% to 20.5% of the 
population – having fallen over the longer term from 37% in 2008 – and extreme poverty fell from 
4.7% to 2.8%. Between 2008 and 2018, formal employment rose from 2 0.8% to 27.6% – an 
increase of 6.8 percentage points. Maintaining that trend is a crucial challenge on the agenda for 
inclusive growth in Peru.  
2.8.  For 25 years Peru has maintained a trade policy of openness and liberalization aimed at driving 
economic growth and helping the country integrate into global markets and value chains, with a 
view to enhancing the well -being of its people and the development of the country.  
2.9.  That policy has in recent years produced positive results for trade and investment. Trade in 
goods increased from USD  84,000  million in 2013 to USD  89,000  million in 2018. Our exports have 
grown steadily since 2015 to a historic high of USD  48,000  million in 2018.  
2.10.   Exports of non -traditional products – the greatest source of value -added, diversifica tion, 
employment and capacity building – reached a record high in 2018 of more than USD  13,000  million. 
That result can be attributed largely to growth of 71.7% in the agricultural export sector during the 
2013-2018 period, including such products as blueb erries, fresh avocados, fresh grapes and mangos.  
2.11.   As shown in the graph on the main destinations for value -added Peruvian exports, 
diversification of both products and markets has been a priority for Peru, with a separate strategy 
of trade promotion and mar ket development for each of our regional trade markets and a special 
focus on small and medium -sized enterprises. Our challenge now is to replicate the success achieved 
for agricultural exports in the manufacturing and service sectors, among others.  WT/TPR/M/393 • Peru  
 
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  2.12.   Peru i s also giving priority to exports of services as a mechanism for inclusion and integration 
with global and regional value chains, capitalizing on the creativity and innovative capacity of our 
people. Total service exports increased by 26% during the 2013 -2018 period.  
2.13.   The regulatory framework was improved during the review period by means of the Law on 
the Promotion of Trade in Services and Tourism and the inclusion of chapters on trade in services in 
our trade agreements. Various initiatives have also been developed to identify businesses with 
export potential and improve their capacity, especially in respect of high value -added services, such 
as digital animation, services to mining, software development and healthcare, among others.  
2.14.   Together with open trade, Peru's institutional framework is favourable toward private 
investment, local as well as foreign, with a stable and predictable legal framework for the promotion 
and protection of investments, as well as arrangements for the incorporation of private  investment 
into the development of infrastructure and public services projects. We have investment promotion 
and protection agreements with 27 countries and chapters on investment in 13 of our trade 
agreements.  
2.15.   As a result of this progress, the average an nual flow of foreign direct investment (FDI) in Peru 
came to about USD  7,000  million during the 2013 -2018 period, with the stock of FDI rising to 
USD 25,953  million at the end of 2018, consisting mainly of investments in mining, communications, 
finance, en ergy and industry.  
2.16.   In terms of trade policy implementation Peru has been significantly reducing its tariffs since 
the 1990s. Over the periods covered by its last two trade policy reviews, the average MFN ad valorem 
tariff decreased from 3.2% in 2012 to 2.2 % in 2018.  
2.17.   As part of this open trade framework, Peru has outlined its trade policy strategies and 
measures in the National Strategic Export Plan (PENX  2025). Following on PENX  2003-13, which was 
still in force when the previous review was conducted, PENX  2025 was formulated to draw on a 
number of lessons learned during implementation of the first plan, including the need for a high level 
of political and technical compromise, collaboration between regional authorities, ongoing 
multisectoral coordination an d the internationalization of businesses. This led to new strategies more 
conducive to sustainable exports.  
2.18.   The strategic objectives of PENX  2025 are as follows:  
• scale up efforts to help companies go international;  
• increase in a sustainable and diversified  manner the export of value -added goods and 
services; and  
• enhance the competitiveness of the export sector.  
 
2.19.   The strategy rests on four pillars:  
1. Internationalization of businesses and diversification of markets;  
2. Diversified, competitive and sustainable exp orts; 
3. Foreign trade facilitation and efficiency of the international logistical chain; and  
4. Capacity building for enterprise internationalization and consolidation of an export culture.  
2.20.   For pillar 1, in addition to Peru's extensive network of trade agreemen ts, the Peruvian 
Commission for the Promotion of Exports and Tourism (Promperú) works to promote trade by 
participating in fairs, trade missions and information and training services, supported by a network 
of 30 trade offices abroad covering more than 45 markets.  
2.21.   For pillar 2, in view of the need to decentralize foreign trade and ensure the development of 
export capacity in both rural and urban areas, 24 regional export plans have been developed, one 
for each region of the country, to identify and prioriti ze products with export potential and gaps in 
the competitiveness of each such product in export markets. They also identify specific public - and 
private -sector activities to close such gaps. The plans are already being executed with the aim of 
ensuring th e sustainability of our exports as an extremely biodiverse country. Other initiatives 
include the programme for certifying international standards and the development of sectoral and WT/TPR/M/393 • Peru  
 
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  collective brands to differentiate Peruvian products, such as SuperFoods of Peru and Cafés del Perú, 
from others. Sectoral brands are also being developed for our manufacturing and service sectors.  
2.22.   For pillar 3, we are implementing  measures connected with WTO's Trade Facilitation 
Agreement, including improvements to customs ope rations, foreign trade logistics and institutional 
coordination; the simplification of administrative formalities; financing and health management for 
foreign trade. In the area of financing, the Programme to Promote Internationalization has been 
developed  as a grant fund for micro, small and medium -sized enterprises (MSMEs), and technical 
assistance was provided to municipal savings and credit unions for the development of a credit 
product, now on the market, to finance MSMEs. Lastly, as a fundamental part  of trade facilitation, 
work is being done to expand the Single Window for Foreign Trade and improve the processes for 
using it.  
2.23.   Pillar 4 is about capacity building for internationalization and the consolidation of an export 
culture. These efforts have bee n assigned to the Regional Offices of Promperú and the Ministry of 
Foreign Trade and Tourism, in coordination with other relevant public and private entities. 
Noteworthy here are "Ruta Exportadora", which offers training and technical assistance to MSME 
exporters or potential exporters, and the "Ella Exporta" programme, aimed at integrating women 
entrepreneurs into international trade and closing occupational gaps in different regions of the 
country.  
2.24.   Peru is aware that the benefits of open trade must be made fully available to MSMEs. A few 
weeks ago it launched the MiPYME al Mundo programme, with the aim of enhancing the 
competitiveness and international profile of MSMEs, consolidating and ensuring the ir permanence in 
international markets and expanding the base of potential MSME exporters.  
2.25.   This strategy seeks to efficiently structure the services offered by various public agencies for 
production, formalization, and cooperative association ( Ministries o f Agriculture and Irrigation and 
of Production) ; for the entire value chain leading up to export ( Ministry of Foreign Trade and Tourism ; 
and for trade promotion (Promperú). It also seeks to coordinate with initiatives led by other 
ministries, such as the Ministry of Labour and Social Promotion , the Ministry of Development and 
Social Inclusion , the Ministry of the Environment  and the Ministry of Women and Vulnerable 
Populations.  
2.26.   This initiative is structured around the principles of coordination, decentrali zation, innovation 
and technology, sustainability and gender -focused economic empowerment, among others.  
2.27.   Such policies could not be properly implemented without the economic integration 
mechanisms in which Peru participates. Our country has been a member o f the multilateral trading 
system for 68 years. It became a contracting party to the GATT in 1951 and is a founding Member 
of the World Trade Organization. The WTO is the cornerstone of Peru's trade policy and international 
trade negotiations. Peru's bilat eral and regional trade negotiations are all based on WTO provisions 
and principles and are consistent with them. Regional and bilateral agreements supplement the 
multilateral trade agreements and do not substitute them.  
2.28.   Peru is convinced, in this connecti on, of the importance of open and constructive dialogue on 
reform of the WTO and recognizes the important role it plays in ensuring stability, predictability and 
transparency in the multilateral trading system. Peru is therefore particularly interested in the 
continued functioning of the Appellate Body. Moreover, in view of the complex situation at present, 
we reiterate our commitment to combatting protectionism.  
2.29.   Peru is also a founding member of the Andean Community and of the Pacific Alliance and 
particip ates actively in the initiatives of the Asia -Pacific Economic Cooperation Forum (APEC). Our 
country has an extensive network of 19 trade agreements in force with 53 trade partners, as shown 
in the slide. These trade agreements cover 90% of our exports. Per u maintains an active agenda for 
the negotiation and administration of trade agreements, with important agreements about to enter 
into force, including the Comprehensive and Progressive Trans -Pacific Partnership (CPTPP) and trade 
agreements with Australia and the United Kingdom. We are currently negotiating a trade agreement 
with India; optimizing trade agreements with China and Argentina, and negotiating with Australia, 
Canada, New Zealand and Singapore, soon to be followed by Ecuador and Korea, through th e 
Pacific  Alliance.  WT/TPR/M/393 • Peru  
 
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  2.30.   Peru has worked actively with the OECD in recent years. In June  2014, the OECD Ministerial 
Council invited Peru to participate in a Country Programme that was successfully completed in 2017. 
Peru continues to implement reforms consisten t with its aspiration to become a full OECD member 
in the near future.  
2.31.   Having consolidated a solid and stable macroeconomic climate, and aware of the need to 
implement reforms to drive growth over the medium and long term, Peru launched its 
National  Compet itiveness and Productivity Policy in 2018. This Policy is being implemented through 
the National Competitiveness and Productivity Plan 2019 -2030, which outlines the specific measures 
to achieve the Policy's nine priority objectives, as shown in the slide.  
2.32.   One of the major challenges for competitiveness in our country is the need for improvements 
to infrastructure. To address it Peru has approved its first National Infrastructure for Competitiveness 
Plan, to prioritize, consolidate and coordinate planning am ong various public agencies to fill gaps in 
this area. Based on best international practices, this plan gives initial priority to 52 financially viable 
projects totalling USD  30,000  million. The total amount needed to fill the gaps identified is estimated 
at USD  110,000  million.  
2.33.   I would stress in concluding that the consistency of Peru's market -based, open -trade public 
policy has kept us on the path of economic growth, poverty reduction and enhanced well -being for 
our people.  
2.34.   Peru will continue working to m eet the challenges still pending in terms of infrastructure and 
logistics, formalization, institutional reform, sustainable development and social inclusion. This work 
will proceed in a structured manner through implementation of the strategic plans descri bed today.  
2.35.   Before concluding, I should like to stress the importance assigned by the Peruvian 
Government to the fight against corruption as a key to the country's progress and development.  
2.36.   Through effective implementation of its economic and trade policies , as well as policies to 
increase productivity and competitiveness – and with the progress made with regard to governance 
and the fight against corruption, Peru hopes to stay on the path towards becoming a more modern, 
inclusive and efficient State. Thank you. 
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  3  STATEMENT BY THE DIS CUSSANT  
3.1.  Thank you Chair. Good morning, Excellencies, ladies and gentlemen. I wish to begin by 
extending a very warm welcome to the Peruvian delegation led by Vice Minister of Foreign Trade 
and Tourism Mrs. Bayona and Ambassador Silvia. I also wish to thank Ambassador Manuel 
Teehankee, Chairman of the Trade Policy Review Body (TPRB), for the opportunity to be  the 
discussant for Peru 's fifth Trade Policy Review. In preparation for today 's review, I have found the 
excellent reports prepared by Peru and the Secretariat to be insi ghtful and invaluable.  
3.2.  You have just heard a very comprehensive and excellent overview of Peru 's trade and economic 
policy from the Vice Minister. This morning, I would like to structure my comments around three 
questions, which I hope will help to facili tate our discussion by providing a connection between the 
last TPR in 2013 and today 's TPR. The three questions are:  
• First, how has Peru performed since the last TPR in 2013?  
• Second question, how has Peru responded to the issues raised at the 2013 TPR?  
• Third question, what are the key issues for this year 's TPR?  
3.3.  First, how has Peru performed since 2013? The short answer is "very well ". According to the 
Secretariat 's report, "Peru has continued to experience sustained economic growth ", with real GDP 
growing at an average annual rate of 4% between 2012 and 2018, and per capita GDP rising from 
USD 6,393 to US D 6,909 in the same period. This is possible because Peru has applied prudent 
management of fiscal, monetary and exchange policies, as well as remainin g committed to free trade 
by keeping its markets open. This is borne out by the fact that during the period under review, Peru 
has unilaterally lowered MFN tariffs to an average applied rate of 2.2%, which is one of the lowest 
among WTO Members. Coupled wi th sustained domestic demand, these sound macroeconomic 
fundamentals have enabled Peru to become one of the fastest -growing economies in Latin America 
and to weather external shocks.  
3.4.  Equally important, Peru has demonstrated agility in responding to extern al challenges. Let me 
give you two examples. One, when international commodity prices fell in the mid -2010s, Peru did 
not panic, but maintained its prudent policies and open market. This has enabled its economy to 
handle the external shock and allow for co ntinued growth, although at a slower pace. Having said 
that, it would serve Peru 's long -term interests to reduce its dependency on exports of minerals and 
seek greater economic diversification. Two, Peru has introduced incentive programmes to promote 
innov ation and competition, as well as to strengthen MSMEs and spread regional development. In 
2018, Peru consolidated various funds into the CRECER Fund to spur the "productive and 
entrepreneurial development of MSMEs and export companies ". 
3.5.  I would also like t o applaud Peru 's trade policy, which is summarised succinctly in its national 
report as follows: "For over 25 years now, Peru has been implementing a trade policy of openness 
and liberalization aimed at driving economic growth and helping the country integ rate into global 
markets and value chains, with a view to enhancing the well -being of its people and the development 
of the country ". This is a highly significant commitment given the severe stresses that are being 
exerted on the rules -based multilateral t rading system today. I must also commend Peru for 
introducing significant changes to its government procurement legislation and would encourage Peru 
to join the Government Procurement Agreement (GPA).  
3.6.  That said, Peru continues to face challenges such as po verty reduction, including narrowing the 
significant disparities between rural and urban areas. In this connection, it is worth noting that Peru 
was ranked 89th out of 189 countries in the UNDP 's 2018 Human Development Index. We also hope 
that the politica l upheaval that Peru has experienced recently will be resolved soon, especially 
following the Parliamentary election that is scheduled for the beginning of 2020.  
3.7.  Turning to the second question, how has Peru responded to the issues raised at the 2013 TPR? 
Based on an examination of the questions posed to Peru in 2013, Members sought greater details 
on how Peru was implementing its National Strategic Export Plan 2003 –2013. Since then, Peru has 
introduced its updated National Strategic Export Plan 2015 -2025 ( PENX 2025). This plan seeks to 
project Peruvian firms into the international arena, increase exports of value -added goods and 
services in a sustainable and diversified manner, and enhance the competitiveness of the export 
sector. We look forward to hearing  more from Peru on the implementation of its current Plan.  WT/TPR/M/393 • Peru  
 
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  3.8.  Another subject of great interest to Members during Peru 's last TPR was its efforts to increase 
its competitiveness and productivity. As I had highlighted earlier, Peru established the CRECER Fund 
in 2018 as an amalgamation of four funds, to spearhead Peru 's quest for greater competitiveness 
and productivity. Consequently, Peru has maintained its position in the 60 -70 range of the World 
Economic Forum 's (WEF) Global Competitiveness Report. In this c onnection, it will be interesting to 
hear more from Peru on what has and has not worked in its efforts to boost its competitiveness and 
productivity, as well as the next steps that it plans to undertake in order to move up the 
competitiveness ladder.  
3.9.  The third question is what are the key issues for this year 's TPR? Based on the latest round of 
questions received, Members continue to be interested in Peru 's updated National Strategic Export 
Plan, as well as its efforts to increase its competitiveness and productivity. This would suggest that 
Peru's efforts to improve its competitiveness and the regulatory environment, while on the right 
track, represent very much a work -in-progress. There is also continued interest among the 
Membership in Peru 's investment  and regulatory environment; its competition policy; and 
intellectual property rights.  
3.10.   Additionally, one recurring theme in this year 's questions revolves around the role of regional 
trade agreements in Peru 's trade policy. There is no doubt that Peru rema ins committed to 
liberali zing trade, as seen from its active participation in various WTO discussions, particularly in 
fisheries subsidies, as well as the 19 trade agreements that it has signed with 53 countries , of which 
five, including the Comprehensive and Progressive Agreement for Trans -Pacific Partnership (or 
CPTPP), were signed during the review period. As Peru has noted in its national report, "these 
agreements have helped to consolidate access to Peru 's principal trading partners and to establish 
stable and predictable rules for attracting investment and improving bilateral trade relations ".  
3.11.   Another set of challenges identified in the Secretariat 's report include "poverty reduction, 
better governance and the need for greater investment in infrastruc ture and higher levels of 
competitiveness ". While the Secretariat 's report noted that Peru "has taken a series of measures, 
including within the framework of the National Competitiveness and Productivity Policy and the 
National Integrity and Anti -Corruptio n Plan ", it is worthwhile pointing out that these are structural 
challenges that require long -term solutions. Hence, we would welcome Peru 's views on how it intends 
to address these challenges in order to sustain growth going forward.  
3.12.   Let me conclude by h ighlighting one particularly significant sentence in Peru 's national report, 
which states that "The WTO is the cornerstone of Peru 's trade policy and international trade 
negotiations ". In my view, this simple sentence pretty much encapsulates the key thrus t of Peru 's 
fifth TPR.  
3.13.   Before I end, let me say that I have enjoyed this experience, which is my first, as discussant 
for Peru 's TPR. Like they say, the first kiss is always the sweetest, and I will remember this 
experience for a long time. Thank you for your attention and patience.  
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  4  STATEMENTS BY MEMBER S 
INDONESIA  
4.1.  This TPR has provided a forum for Indonesia to understand further on how Peru administers 
international trade, and also a forum on how Indonesia could possibly learn from Peruvian best 
practices in managing international trade.  
4.2.  This TPR is also an importa nt platform for Indonesia to explore further avenues in improving 
bilateral trade relation with Peru.  
4.3.  We view that such an exploratory discussion on finding ways to improving bilateral trade, is 
important, especially given that, by the numbers, bilateral trade activities between Indonesia and 
Peru have been increasing but insignificantly. Between the years 2014 up to 2018, bilateral trade 
demonstrated an average yearly increase of only 1.1%.  
4.4.  The numbers confirmed that between the years 2014 to 2018, the a verage yearly growth of 
imports from Peru demonstrated a reduction of -3.16%.  
4.5.  Indonesia is of the view that there are rooms yet to be explored in order to have in place a 
better level of bilateral trade. We view that our discussions leading up to this TPR  meeting has 
provided insights into this joint effort for improvements in trade relations.  
4.6.  Indonesia complements Peru for its active role in coming up with regulations that facilitate 
trade, amongst other in the field of customs, logistics, inter -minister ial coordination, and the 
simplification of administrative formalities.  
4.7.  Indonesia also commends Peru for having in place an unrestrictive investment regime, which 
should pave the way in facilitating the growth of various sectors of the economy, including the 
services sectors such as financial services, insurance services, air and maritime transport services, 
and infrastructure construction services.  
4.8.  Overall, various Peruvian qualitative regulations are transparent in nature. However, Indonesia 
notes that there are some technical regulations that have been raised as STCs by members. 
Indonesia also notes that Peru have applied contingency measures to protect its market. We 
encourage Peru to continue to apply these technical regulations and contingency measur es in the 
correct manner.  
4.9.  Additionally, Indonesia notes the reduction of average Peruvian MFN tariffs throughout the 
review period, as well as the preference for Peru to convert various tariffs into ad -valorem. 
Indonesia, however, is still learning about the specific tariffs on 48 products under the Peruvian Price 
Band System (SPFP).  
4.10.   In the spirit of transparency, we have forwarded our inquiries, in written questions that we 
have submitted.  
4.11.   We, in this regard, wish to express in advance our appreciation to the delegation of Peru f or 
the responses we will receive, to our advanced written questions, amongst others:  
• on the National Strategic Export Plan (PENX) of 2025;  
• on the four pillars of the PENX 2025, including its 15 lines of actions and 93 program mes;   
• on how Peru conducts, in practice, FTA negotiations, given that Peru has 19 trade agreements 
with 53 countries;  
• on the Peruvian Price Band System (SPFP); and  
• on the regulations that dictates the non -preferential rules of origin.  
4.12.   Let me conclude  by wishing the delegation of P eru a successful process in the remaining phase 
of this TPR.  
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  CANADA  
4.13.   Canada is pleased to participate in the fifth Trade Policy Review (TPR) of Peru. We thank the 
Government of Peru and the Secretariat of the WTO for their reports.  
4.14.   Canada and Peru have a  long-standing relationship – this year we are celebrating 75 years of 
diplomatic relations – a lifetime of collaboration in many international fora, where we work together 
to advance our shared commitment to the multilateral system. We also share a dedica tion to sound 
macroeconomic policy frameworks and to trade liberalization, as demonstrated by our decade -old 
bilateral free trade agreement, as well as our participation in APEC and other regional trade initiatives 
such as the Comprehensive and Progressive  Agreement for Trans -Pacific Partnership (CPTPP) and 
the Pacific Alliance.  
4.15.   Canada and Peru are important trade partners and we are working collaboratively to grow our 
bilateral trade and investment profiles to ensure greater prosperity for our peoples. Of  course, our 
engagement is multifaceted and goes beyond collaboration on commercial interests. We are also 
actively engaged in important regional discussions, including through the Organization of American 
States and the Lima Group, on democratic governanc e and efforts to fight corruption, and we work 
together to advance human rights, gender equality and sustainable inclusive growth. In addition, 
Canada 's bilateral assistance program in Peru includes projects that range from promoting economic 
diversification in rural zones, to empowerment of marginalized youth and women in vulnerable 
communities, to the modernization of the public service.   
4.16.   Canada would  like to highlight Peru 's continued commitment to a broad, open, predictable 
and transparent multilateral trading system, resisting the emerging trend of protectionism. In fact, 
Peru has shown itself to be dedicated to open markets and collaboration, parti cularly through the 
Pacific Alliance, of which it is a founding member. Moreover, Peru 's WTO notifications record is very 
good. In doing so, Peru is supporting the WTO 's monitoring function and the ability of other members 
to understand its policy actions.  One area where we encourage Peru to do further work is with regard 
to updating its notification on quantitative restrictions.  
4.17.   We also note positively that Peru is participating in the MC11 joint initiatives on Services 
Domestic Regulation, Electronic Comm erce and on MSMEs, and we commend Peru for supporting 
the Buenos Aires Declaration on Women and Trade.  
4.18.   Canada also welcomes Peru 's participation in efforts towards advancing work on Investment 
Facilitation for Development. Enhancing transparency, improvin g relations with stakeholders, and 
streamlining administrative procedures will contribute to attracting responsible foreign investment 
that, in turn, will help foster sustainable economic growth and employment.  
4.19.   Since its last TPR, Peru has undertaken a num ber of reforms and has made significant legal 
and institutional changes with a view to fighting corruption, consolidating long -term economic 
growth, and ensuring alignment with international standards. I would like to speak to three specific 
issues that ar e of special interest to us.  
4.20.   Firstly, we are very interested in the new Government Procurement Law, which includes 
measures to fight corruption and bid criteria that go beyond purely economic considerations, such 
as environmental or social sustainability,  human development and integrity. We thank Peru for its 
response to our written question on this topic. We note, however, that these changes are still recent,  
and some uncertainty remains as to how their implementation will influence government 
procurement  processes. We would like to underscore that greater predictability and transparency in 
government procurement and contracting will be key to ensure the integrity of these processes. This 
is particularly important at this time given the very ambitious infr astructure modernization plan put 
forward by Peru. Canada looks forward to working more closely with Peru, including through the 
Pacific Alliance technical group on government procurement, in sharing our experiences on this issue. 
We would also suggest tha t Peru consider becoming an observer to the WTO Agreement on 
Government Procurement.  
4.21.   Secondly, we understand that Peru is updating certain measures relating to the entry of goods, 
including food and agricultural products. We encourage Peru to ensure their risk assessment 
processes in this area are science -based and follow internationally recognized standards, guidelines, WT/TPR/M/393 • Peru  
 
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  and recommendations. This will lead to efficient sanitary management, while facilitating the safe 
trading of agricultural goods between pa rties.   
4.22.   Finally, important and complex reforms remain to be fully implemented, as outlined 
throughout the Secretariat 's report, including with respect to streamlining of public institutions, 
reform of the public service, legislative and regulatory changes  to implement modernized laws, and 
ratification of the CPTPP. We would encourage Peru to take decisive steps to finish implementing 
this ambitious agenda. Having new laws in place is a good first step; however, the full benefits come 
with effective impleme ntation of such reforms.  
4.23.   A key driver of these reforms is Peru 's continued engagement to fight corruption. We would 
like to recognize Peru 's important role in establishing new high -level political commitments to bolster 
democratic governance to fight corruption as part of last year 's Summit of the Americas and to foster 
transparency and accountability as an active member of the Open Government Partnership.  
4.24.   In closing, we look forward to continued collaboration with Peru to consolidate and strengthen 
the multilateral trading system. Our discussions today are very much part of this ongoing work. I 
wish Peru a very successful Trade Policy Review.  
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU  
4.25.   Being one of the founding Members of the WTO , Peru has for a long time been committed to 
reducing tariffs unilaterally. Over the period under review, its average tariff rate continued to 
decrease from 3.2% in 2013 to 2.2% in 2019. It is good to see Peru continuing to liberalize its trade 
regime toda y, even during a time when the world is under a cloud of trade protectionism. We also 
want to congratulate Peru on its stable economic performance over recent years, with GDP growing 
at an average annual rate of 4% in the period from 2012 to 2018, as highl ighted by the Secretariat 
in its Report.  
4.26.   Multilaterally, Peru has always been an active participant in the WTO. It has signed the 
protocols on telecommunications and financial services, as well as the 2005 Protocol amending the 
Agreement on Trade Related Aspects of Intellectual Property Rights. It has also ratified the WTO 
Agreement on Trade Facilitation. We look forward to collaborating further with Peru on the important 
new initiatives under the current discussions in WTO.   
4.27.   With regard to E -Commerce, as  a member of the Joint Statement Initiative, Peru is also 
committed to establishing globally a set of digital trade rules for both the current and the next 
generations. On fishery subsidies, we are pleased to see that Peru shares the same view as us, that 
subsidies on illegal, unreported and unregulated (IUU) fishing must be thoroughly eliminated. As for 
the WTO 's Dispute Settlement Mechanism, being a participant in the recent joint proposal, like us, 
Peru fully recognizes the importance of maintaining a we ll-functioning Appellate Body for the benefit 
of all Members by filling the vacant seats as quickly as possible.  
4.28.   Bilaterally, Peru is our fourth largest trading partner in the Latin America region, after Mexico, 
Brazil and Chile. With Peru 's continuing rec ord of positive achievements there is certainly room to 
expand bilateral trade between us in the coming years and the opportunity for greater economic 
cooperation, both plurilaterally and multilaterally.  
4.29.   My delegation has addressed a number of written que stions to Peru in advance, mainly 
concerning technical regulations and trade secrets. We thank Peru for its timely replies. And finally, 
we wish Peru a successful 5th Trade Policy Review.  
NEW ZEALAND  
4.30.   New Zealand welcomes the opportunity to participate in the fifth Trade Policy Review of Peru.  
4.31.   New Zealand and Peru were both founding members of the WTO (and members of the GATT 
before that) and continue to be active and constructive members of the WTO community. We both 
believe that a strong ru les-based multilateral trading system is essential, and are committed to 
safeguarding and strengthening the WTO. We are fellow members of the Cairns Group of agricultural 
exporting countries.   WT/TPR/M/393 • Peru  
 
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  4.32.   With respect to agricultural produce, we would appreciate it i f Peru is able to share with us 
the steps it  is taking to reform the Peruvian Price Band System which it applies to 48 ten -digit tariff 
lines for certain agricultural products.  
4.33.   We also welcome Peru’s sharing of its assessment of the impact of this prefere ntial income 
tax rate of 15% on its agricultural sector, and will the preferential rate cease to be available after 
31 December 2021?  
4.34.   We appreciate Peru’s active participation in flexible and open negotiating approaches to 
advance discussions at the WTO a cross a range of topics of contemporary importance, including on 
electronic commerce; services domestic regulation; women’s economic empowerment; micro, small 
and medium -sized enterprises, and the liberalisation of information technology products.   
4.35.   We com mend Peru’s active engagement in the fisheries subsidies' negotiation. New Zealand 
welcomes the ongoing advocacy for a successful outcome on fisheries subsidies by December in 
accordance with the 2017 MC11 Ministerial Statement and Sustainable Development Goal 
target  14.6.  
4.36.   Equally, we would welcome an update from Peru on how its reform law on hydrocarbons sector 
is progressing and to elaborate on ways in which it intends to rationalise any inefficient fossil -fuel 
subsidies in line with the United Nations’ Sustainable Development Goal 12(c).  
GUATEMALA  
4.37.   For Guatemala, Peru is a very important trading partner in the Latin American region. We 
share common interests and ideals on several fronts, within this organization and in other fora, and 
are convinced that o ur constructive contributions will enable us to achieve our objectives in favour 
of multilateralism.  
4.38.   In connection with this review, we highlight the efforts made by the Peruvian Government to 
sustainably diversify its exports through PENX  2025.  
4.39.   We also no te the country's strong performance in reducing poverty and unemployment, 
thanks to its social policies and to the emergence of new productive activities that have served as 
new sources of employment. Peru has also conducted a series of incentive programme s for the 
promotion of innovation, competition and MSME development, such as the National Innovation 
Programme for Competitiveness and Productivity (INNÓVATE Perú), set up in 2014.  
4.40.    Peru has also formulated a policy to promote investment by establishing an d strengthening 
a stable and transparent legal framework.  
4.41.   During the period under review, we recognize the measures that have been taken to 
implement the Trade Facilitation Agreement and improve customs procedures.  
4.42.   Our delegation raised questions about int ellectual property rights and Peru's decision to 
develop a National Intellectual Property Policy as an important part of its economic development 
agenda, a topic on which we consider it important to exchange experiences.  
4.43.   In terms of the bilateral relations  between Guatemala and Peru, Guatemala's main exports to 
Peru include sugar, electrical machinery and equipment, confectionery, paper and paperboard, 
insecticides, fungicides and disinfectants, and edible fats and  oils. Our main imports from Peru 
include v arious products of the chemical industry; zinc; plastics and plastic products; fresh, dried 
and frozen fruit; animal feed and miscellaneous manufactured articles . We look forward to the entry 
into force of our bilateral trade agreement in the very near fut ure. 
4.44.   In conclusion, Guatemala wishes that Peru, in applying its economic and trade policies, will 
continue to garner success in terms of its economic growth and development.  
4.45.   We thank the Peruvian delegation for replying to our question and wish it a succes sful 
conclusion to this exercise.  WT/TPR/M/393 • Peru  
 
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  CHILE  
4.46.   The long -standing relations between Chile and Peru have been marked by growing cooperation 
and understanding, born of similar ideals, public policies and views on the benefits of free trade.  
4.47.   Politically speaking, the relations between our countries could not be better. The President of 
the Republic of Peru, Martín Vizcarra Cornejo, and the President of the Republic of Chile, Sebastián 
Piñera Echenique, met in Paracas, Peru, on 10  October  2019,  in connection with the third meeting 
of the Binational Cabinet of Peruvian and Chilean Ministers to initiate a process of regular presidential 
meetings.  
4.48.   Over time, the relationship between Chile and Peru has been buttressed by an extensive 
network of bila teral integration and cooperation agreements and mechanisms. Among these, the 
Free Trade Agreement (FTA) signed by the two countries on 22 August 2006 and in force since 
1 March  2019, is worthy of mention.  
4.49.   The last meeting of the Administrative Commission of our FTA was on 11  November  2016, in 
Lima, Peru. Among other topics, it covered a number of important market access issues.  
4.50.   Noteworthy with respect to trade in goods was the signature of six decisions to update the 
tariff nomenclature used in the Latin A merican Integration Association Nomenclature (NALADISA) 
Agreement and Rules of Origin of 2012.  
4.51.   Improvements have also been made in the procedures for certification of origin and the 
provisions concerning waste and scrap.  
4.52.   Two new committees were established : one on rules of origin and the other on market access.  
4.53.   Among our leading trade partners, Peru now ranks second in Latin America and the Caribbean 
and sixth worldwide, with trade totalling USD  2,885  million. Chile's exports to Peru amounted to 
USD 1,710  million, and imports from Peru to USD  1,100  million.  
4.54.   Peru is also the second largest destination of Chilean foreign investment, which totalled 
USD 19,139  million from 1990 to 2017, with more than 400 companies executing some 800 projects 
and accounting for 16% of Chile's investments worldwide. These investments went mainly to 
services (68.6%); energy (20.8%); industry (8.6%); mining (0.6%) and agriculture/forestry 
(1.4%).  
4.55.   According to the Central Bank of Chile , the stock of Peruvian FDI in Chile amounted to 
USD 618 million (1984 -2017).  
4.56.   Today, the ties between Peru and Chile are also centred on expanding political and economic 
relations through such vehicles as the CPTPP and APEC.  
4.57.   Chile and Peru are members of the Pacific Alliance, which also includes Mexico and Colombia. 
This initiative is aimed at joining efforts to act as a bloc in matters regarding trade and investment 
and ensure the free movement of goods, services, capital and persons.  
4.58.   Chile served for one year as President Pro  Tempore  of the Paci fic Alliance, including its 
14th Summit and related meetings, held from 1 to 6  July 2019, in Lima. The Declaration of Lima, 
highlighting achievements over the past year and the mandates that are incumbent on Chile and 
that outline the work to be conducted in the Pacific Alliance's 25 technical groups, was signed on 
that occasion, as was the Declaration on the Multilateral Trade System, recognizing the importance 
of predictability and solidity that the WTO offers to its Members.  
4.59.   Chile and Peru are also parti es to the CPTPP, signed by Australia, Brunei Darussalam, Canada, 
Chile, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Viet Nam. The CPTPP is one of 
the most important economic integration schemes in the Asia -Pacific region, encompassing a 
popul ation of 498  million and accounting for 12% of the global economy. Particularly noteworthy are 
the chapters on services and investments, environmental and labour standards, electronic commerce 
and government procurement. Also covered are new issue areas wi th respect to SMEs, gender, the WT/TPR/M/393 • Peru  
 
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  fight against corruption, support for competitiveness, State enterprises, development and regulatory 
coherence.  
4.60.   This brief overview of our trade relations with Peru should also make mention of the Chile -Peru 
Business Council , a valuable private initiative launched in 2004 within the framework of APEC. Its 
aim is to strengthen and diversify trade and investment relations in the pursuit of economic and 
social development in both countries. The Council provides support for mutua l understanding among 
Chilean and Peruvian businesses and for free trade policies.  
4.61.   To conclude, and although the prospects for economic growth and inflation are favourable, we 
would emphasize that a number of structural problems still pose significant chal lenges, including the 
need to continue promoting economic diversification and reducing poverty levels.  
4.62.   Moreover, we underscore the Secretariat report's observation that Peru continues to be a 
staunch supporter of the rules -based multilateral trading system  and, in these difficult times for the 
world economy, that it advocates further trade liberalization.  
4.63.   We thank Peru for its responses to our questions and wish it a successful trade policy review.  
SINGAPORE  
4.64.   Allow me to highlight three points.  First, while Singapore and Peru enjoy longstanding trade 
and investment links, there is scope for deeper economic relations between our two countries. Since 
the Peru -Singapore FTA entered into force in 2009, our bilateral trade has been on an upward trend. 
Trade in goo ds between Singapore and Peru amounted to US D 72 million in 2018, while trade in 
services reached US D 236 million in 2017. Peru is currently Singapore 's 12th largest trading partner 
in Latin America and the Caribbean. With the signing of the Comprehensive and Progressive 
Agreement for Trans -Pacific Partnership (CPTPP) in 2018, and the ongoing negotiations for the FTA 
between the Pacific Alliance and Singapore, we look forward to closer economic ties and growing our 
bilateral trade figures further.  
4.65.   This was  illustrated by Singapore 's Senior Minister of State for Trade and Industry Mr Chee 
Hong Tat 's trip to Lima to attend the 14th Pacific Alliance Summit from 4 to 6 July this year. At the 
Summit, Mr Chee highlighted the importance of the partnership between the Pacific Alliance and 
Singapore, including through the FTA currently being negotiated, which will grow trade, deepen 
economic cooperation, and open up investment opportunities across a diverse range of sectors.  
4.66.   Second, we would like to commend Peru for the steps it has taken to enhance its business 
environment in the last few years, which has led to increased investment into Peru. These include 
modernising its legal framework for trade and signing bilateral investment protection agreements to 
create an e nvironment attractive to foreign investors. Peru 's drafting of a national intellectual 
property policy has also helped to establish Peru as an economy that respects IP rights and 
encourages entrepreneurship and innovation. These initiatives seem to have bo rne some fruit, as 
seen from the recent growth in foreign investment into Peru, in particular in the mining sector, and 
financial services and other services. In fact, there is interest from Singapore companies in sectors 
such as infrastructure and technol ogy solutions in Peru. We encourage Peru to continue its good 
work in strengthening its economy and keeping its markets open.  
4.67.   Third, on the multilateral front, we applaud Peru 's unilateral lowering of its MFN tariffs to an 
average applied rate of 2.2%, wh ich is one of the lowest among WTO Members, and we encourage 
other WTO Members to take a step in this direction as well. In today 's global trading environment 
where protectionist sentiments tend to run high, Peru 's efforts are a significant contribution to  
supporting the multilateral trading system. We also commend Peru for reducing the number of anti -
dumping actions it took during this review period compared to the last. Going forward, we hope that 
Peru participates in the expansion of the Information Tech nology Agreement and considers becoming 
an observer to the Government Procurement Agreement.  
4.68.   To conclude, Singapore looks forward to strengthening our cooperation with Peru on both the 
multilateral and the bilateral fronts. We wish Peru every success for t his TPR.  
  WT/TPR/M/393 • Peru  
 
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  EUROPEAN  UNION  
4.69.   Since its previous TPR in 2013, Peru has continued to experience sustained economic growth, 
reflecting solid macroeconomic fundamentals and sustained domestic demand. However, the 
economic situation of Peru has been affected by external factors including - more recently - by the 
current global trade tensions.  
4.70.   The EU appreciates Peru 's commitment to undertake economic and institutional reforms to 
help the country grow on a more predictable and sustainable path. We note , in particular , its efforts 
to reform the judiciary and to fight against corruption, including via the framework of the National 
Integrity and Anti -Corruption Plan.  
4.71.   We understand that the Government is seeking to improve the business environment and 
prom ote economic growth through the implementation of a "National Competitiveness and 
Productivity Plan ", which takes on infrastructure, funding, human capital, innovation, business 
climate, labour market, foreign trade, institutional development and sustainab ility. The EU would be 
interested in learning more about the results of implementing the plan.  
4.72.   Peru has a strong and deep trade and investment relationship with the EU. In 2018, the EU 
accounted for 13.5% of Peru 's total trade. Moreover, the EU is the bigg est foreign investor in Peru. 
The bilateral Trade Agreement provisionally implemented since 2013 has had positive impact as it 
contributed to a diversification of Peru 's export base. The share of agricultural products now accounts  
of 37% of Peruvian export s to the EU, compared to 24% in 2012.  
4.73.   The EU appreciates Peru 's commitment to the multilateral trading system and its willingness 
to cooperate in providing solutions to the ongoing crisis of the WTO as well as in exploring new 
issues by participating in th e Joint Statement Initiatives.  
4.74.   The EU notes Peru 's strong engagement to the regional trade integration; Peru is party to the 
Comprehensive and Progressive Agreement for Trans Pacific Partnership; it is working on a deep 
integration in the Pacific Alliance  and is strengthening ties with the Mercosur. The EU is interested 
in the deepening its relations with the Pacific Alliance: for example, the Joint Declaration on a 
partnership between the Pacific Alliance and the European Union was signed on 25 September in 
New York.  
4.75.   Despite the positive overall trade relationship, the EU has some concerns that it wishes to 
express. In this context, we welcome that Peru chose the alternative timeframe for its TPR, which 
enables us to have a preliminary examination of the r eplies to our written questions in advance to 
the meeting.  
4.76.   Firstly, the Selective Consumption Tax on alcoholic beverages - which continues to be applied 
in a discriminatory manner. During its last TPR, Peru had committed to address the situation. We 
regre t to note that the recent reform brought with Supreme Decree No . 093-2018-EF has , in fact , 
further increased the tax gap.  
4.77.   We appreciate the reply of Peru to our advance written question on this matter, stating that 
the "the current tax structure is compat ible with the obligations in the WTO and the application of 
taxes is not based on their origin ". However, the EU notes that pisco continues to be excluded from 
the system of the excise taxation and a specific tax is applicable. The magnitude of the tax dif ferential 
and the fact that the beneficiary of the differentials (pisco) is by Peruvian law a domestic product, 
is evidence that this dissimilar taxation system is applied in a manner so as to afford protection to 
domestic production. We invite Peru to exp lain the grounds for this differential treatment by replying 
to the follow -up question that we will submit on this issue.  
4.78.   Secondly, more efforts are needed to cut red tape and procedures for effectively accessing 
Peru's market. EU operators are concerned w ith the burdensome import procedures, for example for 
sanitary and phytosanitary registrations. We would also like to see faster approval procedures for 
EU applications.  
4.79.   Thirdly, as indicated in our written questions, we would invite Peru to explain the ra tionale of 
some TBT measures, such as the labelling requirements regarding health warning on food packages. WT/TPR/M/393 • Peru  
 
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  We would like to encourage Peru to review its Advertising Warnings Manual to allow the use of 
stickers without any limitations in time in line with international practices.  
4.80.   Lastly, the EU attaches high importance to the protection and effective enforcement of 
geographical indications on the international scene, both at multilateral and at bilateral level and 
looks forward to continuing the regular ex changes with Peru on these matters.  
4.81.   On behalf of the EU, I look forward to a constructive exchange of views during this review and 
I wish Peru 's delegation the utmost success during its fifth Trade Policy Review.   
UKRAINE  
4.82.   Our Government attaches great importance to developing trade and economic cooperation 
with Peru and within the WTO. Analysis of bilateral trade and economic relations between Ukraine 
and Peru demonstrates the availability of significant prospects for further development of bilate ral 
cooperation.  
4.83.   Bilaterally the total turnover in goods and services in 2018 amounted to around  
USD 21 million.  
4.84.   The main commodity groups of export of goods from Ukraine to Peru include ferroalloys, 
sunflower oil, lighting and electrical equipment, engin es and gas turbines, pumps and gas 
compressors, condensed milk and cream.  
4.85.   The main commodity groups of import from Peru are: fruits fresh and dried, coffee, shellfish, 
zinc oxide, seeds, juices, and cereals.  
4.86.   Within this TPR Ukraine has submitted a number o f specific questions on a range of the 
following topics: trade facilitation, intellectual property rights, export promotion, duty drawback 
scheme, implementation of Multi -Year Strategic Sector Plan for the agriculture sector and National 
strategic export p lan 2025, functioning of the Price Band System.  
4.87.   We are grateful to Peru for the responses to Ukraine 's questions, which we are reviewing 
thoroughly.  
4.88.   In conclusion, I would like to express our appreciation to the delegation of Peru for their hard 
work in p reparing for this TPR.  
4.89.   We wish Peru a successful TPR and look forward to further strengthening our bilateral 
relations.  
ARGENTINA  
4.90.   Peru is an important trade partner for our country and the region's third largest exporter. Our 
exports to Peru, among other p roducts, include soya bean oil, motor vehicles, wheat and  maize. Our 
imports from Peru include cement; petroleum  oil; natural  calcium  phosphates; plates,  sheets, 
film, foil and strips  of plastic, and t -shirts. Under the Economic Complementarity Agreement N o. 58 
(ECA 58), between Peru and the Southern Common Market (MERCOSUR), our country is negotiating 
a bilateral agreement containing commitments with respect to services, government procurement, 
sanitary and phytosanitary measures, and electronic commerce, among other matters.  
4.91.   We trust that trade with Peru, which has grown significantly in recent years, will benefit from 
deeper ties between MERCOSUR and the Pacific Alliance.  
4.92.   Argentina is pleased to note that Peru has continued to experience sustained economic growth 
during the review period. Real GDP grew at an average annual rate of 4% between 2012 and 2018, 
and poverty levels were reduced.  
4.93.   Significantly, the stock of FDI, which stood at some USD  64,000  million seven years earlier, 
exceeded USD 100,000  million in 2018. This growth was driven principally by major investment 
flows in the mining, financial and service sectors. It is also important to note that the regulatory WT/TPR/M/393 • Peru  
 
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  framework for the promotion of private investment through public -privat e partnerships has been 
unified and that OECD principles were applied.  
4.94.   We take note of Peru's significant achievements in the area of trade facilitation, with the 
adoption in particular of measures pertaining to customs operations, foreign trade logistics,  
institutional coordination and simplification of administrative formalities. We welcome Peru's 
implementation of the Multi -sectoral Commission for Trade Facilitation, which will operate as the 
national committee for the purposes of the WTO Trade Facilitat ion Agreement.  
4.95.   Argentina attaches  particular importance to policies for the promotion of MSMEs, so we take 
note with interest of Peru's internationalization programme and export credit insurance scheme for 
SMEs. As part of Peru's strategy to internationali ze its MSMEs, we view PENX  2025 as particularly 
welcome.  
4.96.   Having been informed about Peru's incentive programmes for innovation and competitiveness, 
MSMEs and regional development, we are particularly interested, as indicated in our questions prior 
to this review, to know more about the results of those incentive programs.  
4.97.   In the context of this trade policy review, Argentina submitted questions to Peru about its 
tariffs, its legal framework for government procurement and the work of the Multi -sectoral 
Commi ssion for Trade Facilitation, among other topics. We express our thanks in advance for Peru's 
answers, which will be analysed by our authorities.  
4.98.   To conclude, we reiterate our appreciation of this renewed opportunity to exchange comments 
on Peru's trade pr actices and wish its authorities a successful conclusion to this review.  
HONG  KONG,  CHINA  
4.99.   Peru is an important trading partner of Hong Kong, China ( HKC). Our bilateral merchandise 
trade grew at an average rate of 5.9% from 2014 to 2018. HKC has always cher ished our close and 
valuable economic ties.  
4.100.   Amidst the rising threat of protectionism and the uncertainty brought by unilateralism, we 
welcome Peru 's strong commitments in upholding multilateralism and an open economy with very 
low tariff levels and few tr ade restrictions.  
4.101.   We note with commendation that, in accordance with Peru 's 2021 National Strategic 
Development Plan, the main objective of Peru 's foreign trade policy is to foster economic 
internationalization and export diversification. We are glad to note further that Peru has strived to 
promote foreign trade in goods and services by launching the National Strategic Export Plan 2025, 
which reflects Peru 's determination in boosting foreign trade actively in the long run.  
4.102.   It is clear that Peru 's commitme nts to trade openness, liberali zation and facilitation have 
borne fruit, as evidenced by the contribution that foreign trade has made to Peru 's GDP and economic 
performance, and on this we congratulate Peru.  
4.103.   Now, I would like to share our observations on a  few specific areas in Peru 's trade policy. On 
trade facilitation, Peru ratified the Agreement on Trade Facilitation (TFA) in July 2016 and scheduled 
the vast majority of its Category A commitments for immediate implementation. A working group 
on trade fac ilitation was also created to monitor actions taken to fulfil Peru 's Category B and C 
commitments under the TFA. Peru has also duly submitted all transparency notifications required 
under the TFA. We commend Peru 's efforts and good work done in trade facil itation.  
4.104.   On tariffs, we are glad to note that the average rate for applied most -favoured -nation duties 
for Peru has been reduced from 3.2% in 2013 to 2.2% in 2019, which is one of the lowest among 
WTO Members. The percentage of Peru 's duty -free tariff line s has also increased during the same 
period from 55.3% to 69.9%. We applaud Peru 's efforts in tariff liberalisation.  
4.105.   On anti -dumping, countervailing and safeguard measures, we note that Peru has initiated 
15 anti -dumping investigations during the review pe riod and eight anti -dumping measures were in 
effect as at 31 December 2018. While Peru did not initiate any safeguard measures investigation, WT/TPR/M/393 • Peru  
 
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  there were three countervailing measures in place. We hope that Peru will continue to adopt a 
cautious and restrai ned approach in initiating any trade remedy measures.  
4.106.   On import prohibitions and restrictions, we note that Peru has implemented several such 
prohibitions and restrictions, and would like to encourage Peru to submit its biennial notification for 
the period  of 2018 -2020 under the 2012 Decision on Notification Procedures for Quantitative 
Restrictions.  
4.107.   On services, we appreciate that Peru has continued to develop its trade regime in services 
through moderni zing its legal framework for trade and investment. Dur ing the report period, the 
services sector continued to grow in importance; it represented 54.1% of Peru 's GDP, and accounted 
for 59% of the employed population. We encourage Peru to continue its progressive liberali zation in 
the services sector so as to a ttract even more foreign investment.  
4.108.   HKC looks forward to further fostering the bilateral trade and economic relations with Peru. 
We thank Peru for its replies to our written questions, which we will review with care. We wish Peru 
a very successful Trade Policy Review.  
URUGUAY  
4.109.   Our country is pleased to observe the dynamic and sustained growth occurring in the 
Peruvian economy, reflecting solid macroeconomic fundamentals and sustained domestic demand. 
Over the last 14 years the Peruvian economy had the lowes t average annual inflation in Latin 
America: 2.5%. We take note as well of the significant increase in the stock of FDI, a reflection of 
economic growth and significant investment flows, especially in mining and financial and other 
services. While challeng es remain – to reduce poverty and enhance competitiveness, for instance – 
we commend the measures Peru is taking within the framework, inter alia , of the National 
Competitiveness and Productivity Policy and the National Integrity and Anti -Corruption Plan. We can 
only encourage it to persevere in its efforts.  
4.110.   At the multilateral level, we share the belief that a strong, rules -based, multilateral trading 
system is essential as the cornerstone of world trade relations. We note that Peru ratified the 
Trade  Facilitation Agreement in July  2016, has scheduled the vast majority of its Category A 
commitments for immediate implementation and continued adopting measures during the review 
period to facilitate trade, including legislation to strengthen the Single Window for Foreign Trade and 
steps to enhance customs operations, improve institutional coordination and simplify administrative 
processes.  
4.111.   We take particular note of Peru's creation of an MSME Fund, which prescribes tax measures 
and the simplification of procedu res and permits to buttress the productive development of MSMEs 
by improving the terms and conditions of access to funding and raising their levels of productivity. 
Also welcome is Peru's Programme to Promote Internationalization, set up in 2016 to co -finance 
studies and activities allowing MSMEs to improve their management capacities.  
4.112.   With respect to trade, the ECA  58 agreement between the MERCOSUR States and Peru was 
signed in 2005 and is in force. While this agreement represents a significant advance tow ard the 
goal of creating a free trade zone between the parties, Uruguay sees significant room for expanding 
its scope and perfecting its disciplines.  
4.113.   Bilateral trade trended upward between 2014 and 2017, increasing from USD  126.9  million 
to a high of USD  170 million. That trend reversed sharply however, in 2018, when it fell to about 
USD 139 million.  
4.114.   This reversal reflects reduced export flows from Uruguay to Peru, particularly for what has 
become the star product of our bilateral trade relations: rice, whi ch accounted for 79% of total 
exports to Peru in 2018.  
4.115.   Uruguay has in recent years been the leading foreign supplier of rice to the Peruvian market, 
with a share exceeding 60% every year between 2013 and 2018. Imports of Uruguayan rice are 
being affected, however, by a considerable surcharge being placed on them by Peru's price band 
system, making the product more costly to consumers.  WT/TPR/M/393 • Peru  
 
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  4.116.   With its modifications and particular administrative practices – which include the designation 
of Uruguay as a new  reference market for rice and the repeated extension of the customs tables for 
this product  – this measure has established higher levels of trade protection, with the result that 
exports of rice to Peru, from Uruguay as well as other Members, declined sig nificantly in 2018.  
4.117.   This situation is a cause of great concern for Uruguayan rice producers and for our 
authorities. We can therefore only invite Peru to seek the most appropriate solution to the situation 
in accordance with the relevant international prov isions.  
4.118.   Uruguay hopes to continue and deepen its cooperation with Peru within the Cairns Group, in 
pursuit of more liberalized trade in agricultural products  and with the 6 -LAT Group, and to reach 
agreement on comprehensive and effective disciplines that p rohibit fisheries subsidies in forms that 
contribute to overcapacity and overfishing and on the elimination of subsidies that contribute to 
illegal, unreported and unregulated fishing.  
4.119.   In reiterating our appreciation for this latest exercise in transparenc y and dialogue on trade 
policies and practices in Peru, we wish the country a successful conclusion to this review. We 
congratulate the delegation of Peru for the excellent work being done by Ambassador Silvia Alfaro 
and her efficient team in this city.  
MEXICO 
4.120.   Mexico and Peru maintain a solid and important bilateral relationship. Peru is the second 
largest destination in Latin America for Mexican foreign investment, with stock amounting to nearly 
USD 17,000  million. Our b ilateral trade exceeded  USD 2,000 million in 2018.  
4.121.   Our trade relations recently took an important step forward with the adoption of the CPTPP. 
We hope that Peru will soon join those countries that have ratified the agreement.  
Economic development of Peru  
4.122.   Despite the economic difficulties enc ountered globally, Peru has been one of the region's 
fastest growing economies, thanks to macroeconomic, structural and political free -market reforms 
designed to stimulate investment.  
4.123.   The country's mining production increased significantly in 2016, helping  Peru achieve one of 
the highest levels of GDP growth in the region. During the period under review, its annual growth in 
real GDP averaged 3.7%.  
4.124.   Economic development in Peru is good news for Peruvians, but also creates opportunities 
and openings for the r est of the world and, in particular, other countries in the region.  
National trade policies  
4.125.   We congratulate Peru on its efforts to incorporate foreign trade as part of its development 
strategy through the first Strategic National Development Plan, the "Bic entenary Plan: Peru by 2021" 
and the " National Competitiveness and Productivity Policy" , which seeks to spur sustained growth 
that is reflected over the medium -term in better lives for its people. These instruments demonstrate 
the country's openness to pla nning by implementing specific policies guided by a medium -term 
vision, a particular advantage for the purpose of maintaining confidence and predictability in the 
market.  
4.126.   We note that, in this fifth review and the one before it, pisco is excluded from the tax 
structure applicable to spirits. We thank Peru for its replies to Mexico's questions on this subject; we 
will be reviewing them very closely, given our interest in this matter.  
The work of the WTO  
4.127.   In terms of the WTO's work, Peru makes every effort to stay up to speed on the emerging 
issues affecting multilateral trade, as clearly evidenced by its active involvement in joint initiatives 
on electronic commerce and domestic regulation in services.  WT/TPR/M/393 • Peru  
 
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  4.128.   With respect to the WTO's dispute settlement system, it sh ould be noted that Peru has shown 
its concern and commitment to dealing with the current situation by supporting the joint proposal 
of 116 WTO Members to begin filling vacancies in the Appellate Body, with the aim of resolving the 
impasse that affects not only the dispute settlement system but also the credibility of the multilateral 
trading system.  
Challenges and opportunities  
4.129.   As regards challenges and opportunities, we believe that Peru has the potential to maintain 
its economic growth. We are, however, a ware that the country has had to contend with delays in 
major infrastructure projects and adverse natural conditions, including the floods of 2017. We are 
pleased to see that efforts have been made to foster recovery in this respect.  
4.130.   Exports of mineral pro ducts, including gold and articles of metal, accounted for 69% of total 
Peruvian exports in 2018, suggesting the possible need for a strategy to deal with global price 
fluctuations for those products, and a serious export diversification strategy.  
4.131.   Accordin g to the World Economic Forum's 2019 report on global competitiveness, Peru ranks 
117th out of 141 economies evaluated with respect to workforce skills. The implementation of policies 
to improve that ranking could represent an important opportunity.  
4.132.   One of  the report's recommendations is to continue with the structural reforms and 
encourage financial inclusion and deepening . 
Conclusion  
4.133.   We are convinced that Peru can successfully meet the challenges before it and continue 
growing its economy and opening its market.  
4.134.   We thank Peru for its replies to the questions raised by my delegation and wish it every 
success in this review.  
CHINA  
4.135.   In the review period, the Peruvian economy experienced sustained growth. We are 
impressed by the efforts of Peru to boost competitiveness and productivity, as well as fiscal 
sustainability. And pleased to see that Peru continued to reduce poverty, increase  in disposable 
income, and achieve one of the highest growth rates in the region.  
4.136.   Peru adopts open economy polices and attaches great importance to the WTO. We are glad 
to see during the review period, as an active participant Peru continued to drop tarif fs, ratified the 
WTO Agreement on Trade Facilitation, and actively participated in many WTO -related activities and 
negotiations. We commend Peru for its continually promoting trade openness, firmly supporting the 
multilateral trading system, and rejecting all types of protectionism. In this regard, we encourage 
Peru to join the Expansion of the Information Technology Agreement (ITA) which we believe will 
help Peru better diversify its export products. We appreciate that the Peruvian government passed 
the am endment of tax law in September of 2017 and revised the withholding tax on interest (WTI) 
on foreign companies. However, we have noted some companies are still facing problems due to the 
implementation of previous law, and we hope the issue will be properl y addressed.  
4.137.   Peru is one of the most important cooperative partners of China in Latin America. China 
always attaches great importance to economic and trade cooperation with Peru, and the two sides 
have established a comprehensive strategic partnership. Cur rently, Peru is China 's fourth largest 
trade partner in Latin America. China is Peru 's largest trade partner and an important source of 
foreign investment. Taking this opportunity, we would like to warmly welcome Peru to attend the 
second China internation al import expo as a Guest of Honor in the coming November.  
4.138.   China and Peru are highly complementary to each other economically and enjoy great 
potential in economic and trade cooperation. In April this year, the two sides signed a memorandum 
of understandin g on jointly building the One Belt And One Road. It is hoped that Belt and Road 
Initiative will further enhance and upgrade the level of China -Peru economic and trade cooperation.  WT/TPR/M/393 • Peru  
 
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  4.139.   This year marks the 10th anniversary of the signing of the China -Peru free trade agreement. 
Since its entry into force, the agreement has greatly promoted the rapid development of bilateral 
relations. Currently the China -Peru free trade agreement is in the upgrading process. We hope to 
work closely with Peru to achieve an early c onclusion with a win -win outcome and benefit the people 
of both countries.  
4.140.   To conclude, I wish Peru every success in the fifth review.  
BRAZIL  
4.141.   We note with satisfaction that Peru has had a remarkably consistent trajectory of positive 
economic performance fo r a long period. In fact, the year 2018 - with a 4% increase in GDP - marked 
the 20th year of uninterrupted economic growth in Peru. This impressive record is underpinned by 
good macroeconomic indicators, with inflation as low as 2.2%, fiscal balance and a  comfortable level 
of external reserves.  
4.142.   As Peru's economy remains strongly linked to the export of certain mineral commodities, it 
may be affected by oscillations in commodity prices and downturns in the international economy. In 
any event, in spite of th e challenges that remain - such as the need for greater economic 
diversification, the reduction of informality in the labour  market and further advances in the fight 
against poverty -, Peru has maintained its choice of trade openness as a central element i n the 
promotion of economic development.  
4.143.   Brazil and Peru have a very dense relationship. We work together in areas such as cross -
border integration, defense, and combatting transnational crime, and we maintain an extensive 
program of technical cooperation,  covering areas such as health, water resources, social 
development and labour . 
4.144.   Yet, there is significant potential for expanding trade between Brazil and Peru. The bilateral 
trade between the two countries in 2018 stood at approximately US D 4 billion. In April 2016, Brazil 
and Peru signed an Economic and Trade Expansion Agreement that incorporates commitments in 
services, investment and government procurement. In fact, this was the first international 
agreement signed by Brazil that covered government proc urement. The internal procedures for our 
ratification of the Economic and Trade Expansion Agreement have already been concluded, and Brazil 
looks forward to the completion of internal procedures in Peru. It is our view that, when the 
Agreement enters into force, it will make a significant contribution to greater economic integration 
between the two countries.  
4.145.   With regard to specific aspects of Peru's trade policy, I would like to note two points.  
4.146.   First, we look forward to the full implementation of commitments undertaken by Peru in 
respect of the sanitary habilitation for the import of Brazilian swine meat, including the definition of 
the applicable sanitary requirements.  
4.147.   Second, Brazil understands  that Peru continues to apply a price band system to the 
importation of certain agricultural commodities, including rice. This is a cause for concern, since 
Brazilian companies and exporters respond for a significant share of the imports of rice into Peru.  
Among the questions that we submitted in the context of this exercise, we asked about the need for 
a price band system, which seems at odds with the growing competitiveness of the Peruvian 
agricultural sector.  
4.148.   For Brazil, Peru is a very important partner in our region. We are pleased to see its economic 
progress, and we hope that Peru will continue on a trajectory that is positive and sustainable. As I 
noted, there is great potential for Brazil and Peru to intensify their economic ties, and we stand 
ready to do our share of this work.  
4.149.   Let me conclude  by thanking the delegation of Peru for the replies to Brazil 's questions and 
by wishing Peru a very successful Trade Policy Review.  
  WT/TPR/M/393 • Peru  
 
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  UNITED  STATES  
4.150.   The United States commends Peru for its continued implementati on of sound economic 
policies, which have led to sustained economic growth, even during times of global economic 
headwinds. Peru 's continued pursuit of an open trade and investment regime has helped drive 
domestic reforms, create jobs, and reduce poverty a nd inequality. The United States -Peru Trade 
Promotion Agreement (PTPA), which entered into force just over 10 years ago, is a clear example of 
this policy in action, providing clear rules under which U.S. and Peruvian traders can benefit. With 
the entry in to force of the PTPA in 2009, Peru progressed from a unilateral preference recipient to a 
full partner with the United States. Annual two -way trade in goods and services between the United 
States and Peru has expanded to more than USD 20 billion (20171) – while also remaining balanced 
– and the outlook for future growth is positive.   
4.151.   Two-way trade in agricultural products between the United States and Peru has also 
expanded significantly since the PTPA entered into force. U.S. imports of Peruvian agricultu ral 
products continue to grow, while U.S. exports are driven by strong demand from Peruvian producers 
of livestock and poultry that value the high quality, dependability, and price competitiveness of 
U.S. agricultural commodities. The United States maintai ns its interest in ensuring the continuation 
of free and fair trade – driven solely by supply and demand – of these products under the PTPA.  
4.152.   In addition to the PTPA, the United States recognizes Peru 's progress in concluding additional 
agreements with othe r WTO Members since 2013. We note Peru 's continuing role in APEC, serving 
as host economy for the second time in 2016. Peru also continues to be a full participant at the WTO, 
including as a member of the Trade Facilitation Agreement and in ongoing negotia tions on fisheries 
subsidies and e -commerce. Within the Western Hemisphere, Peru is a founding member of the Pacific 
Alliance, a trade integration bloc that includes a number of Latin American countries, which the 
United States continues to follow closely as an Observer and has increased technical cooperation 
with Peru and the other Alliance partners on procurement, cybersecurity principles, furthering the 
digital economy, and other areas.  
4.153.   Peru's solid economic fundamentals and support for an international trading system based 
on fair competition, clear rules, and the reduction of barriers to trade continue to serve as an 
important example, both regionally and globally. To further enhance the benefits of these policies, 
the United States encourages Peru to c ontinue working to improve the administrative and physical 
infrastructure on which trade relies. This includes continuing to enhance the technical expertise and 
transparency of government institutions, regulatory agencies, and customs authorities to provid e 
predictability for traders, in addition to resolving infrastructure bottlenecks that impeded the flow of 
goods and services and hamper competitiveness.   
4.154.   The United States takes this opportunity to note its continued concern with Peru 's 10-year 
moratoriu m on the cultivation and the import for cultivation of genetically engineered organisms, 
such as seeds, and on the importation of products derived from agricultural biotechnology. While we 
appreciate Peru 's ongoing willingness to discuss this issue, the Un ited States continues to have a 
number of questions surrounding the scientific justification for such a measure. Additionally, the 
United States continues to insist that the moratorium be notified to the WTO, given the clear impact 
on trade of this measure , consistent with Peru 's obligations under the Cartagena Protocol on 
Biosafety and the WTO SPS Agreement. The United States stands ready to collaborate with Peru on 
next steps following the moratorium 's expiration in 2021.  
4.155.   The United States underscores its interest in resolving confusion around Peruvian processes 
– including a new 'single certificate ' – for the importation of industrially processed food of animal 
origin. To better understand the process and ensure full trans parency and compliance, the United 
States encourages Peru to notify this new certificate, and the process for obtaining it, to the WTO 
SPS Committee.  
4.156.   The United States would like to thank Peru for its continued willingness to discuss concerns 
surrounding t he 2013 Act to Promote Healthy Eating among Children and Adolescents and its 
implementing regulations.   We remain interested in receiving more information concerning the 
specific science -based recommendations or guidance Peru considered in developing its i ndividual 
nutrient thresholds. We encourage Peru to consider alternative approaches that are less trade 
                                                
1 Latest data available.  WT/TPR/M/393 • Peru  
 
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  restrictive, are more consistent with international standards, and are less burdensome for both 
government and industry.  
4.157.   Finally – consistent with Peru's national IP policy – the United States encourages Peru to 
continue making progress to achieve greater, respect, appreciation, and use of the intellectual 
property system as a whole. This includes implementing the outstanding PTPA obligations of 
providing statutory damages for copyright infringement and trademark counterfeiting, in addition to 
notice -and-takedown and safe harbour  provisions for internet service providers.  
4.158.   The United States appreciates the opportunity to participate in this review and  provide 
observations. We value Peru 's participation in the international trading system and look forward to 
continued cooperation through our bilateral and multilateral endeavours . 
RUSSIAN  FEDERATION  
4.159.   Peru is one of the most open economies of Latin America , demonstrating relatively high and 
one of the most sustained growth rates among other countries of the region for the last ten years. 
We witness the Peruvian Government taking steps to search solutions to internal development 
issues, which are aimed at po verty reduction, income increase, infrastructure development, 
economy competitiveness boost.  
4.160.   We expect that the economic resilience will allow Peru to overcome recent decrease of some 
macroeconomic indicators, thanks to the National Strategy for Greater Co mpetitiveness and 
Productivity by the Government of Peru.  
4.161.   Peru has been applying an open trade policy since the latest review, including such measures 
as the unilateral reduction of tariffs, conclusion of bilateral free trade agreements, and consecutive 
implementation of the multilateral commitments within the WTO. The governmental measures to 
raise the competitiveness of Peruvian exports on world markets, including those within the National 
Plan Strategy for Raising Exports, comply with the WTO rules.  
4.162.   Trade relations between Russia and Peru have a long history. They started in 1874 with the 
signature of the Treaty on Trade and Navigation. Currently , our trade turnover more than doubled 
during the last three years and in 2018 amounted to  USD 620 million . Russia's exports to Peru has 
reached USD 483 million . We export mainly fertilizers (51%), iron and steel (27%), wheat (7%). 
Our imports last year amounted to USD 182 million . Russia buys from Peru fruit (36%), copper ores 
(20%), fish and fish products (16%).  
4.163.   Peru does not impose any trade restrictions or anti -dumping measures on Russian goods. 
For its part, the Russian Federation continues to apply preferential trade regime towards Peruvian 
goods under the Eurasian Economic Union 's Common System of Tariff Pref erences. We cooperate 
effectively with our Peruvian partners in the WTO, sharing common approaches towards multilateral 
trade issues, such as transparency, predictability, reduction of trade barriers and inadmissibility of 
unilateral protectionist measures . In this context, we also attach importance to the cooperation in 
the framework of APEC, as well as Agreement between the Pacific Alliance and the Eurasian Economic 
Commission.  
4.164.   We note that a liberal and stable investment regime has been created in Peru. Restrictions 
are imposed only in a small number of areas, which are strategically important for the national 
security. National treatment for foreign investors and other incentives clearly attest to the open 
nature of the Peruvian economy.  
4.165.   During this revi ew, Russia has submitted a number of questions regarding competition 
policy, intellectual property rights, as well as the new mining legislation. We thank the Peruvian 
delegation for the answers provided.  
4.166.   In conclusion, we would like to thank you, Mr. Chairman, the delegation of Peru, the 
Secretariat and the discussant, for the valuable work done during this TPR.  
  WT/TPR/M/393 • Peru  
 
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  HONDURAS  
4.167.   For some decades, our countries have enjoyed a strong relationship, which has enable d us 
to share our visions of a rules -based world order and our aspiration to achieve fair, free, transparent, 
predictable and above all equitable trade.  
4.168.   As indicated in the reports, bilateral free trade agreements have been a key instrument for 
our countri es, helping to diversify trade, improve market access for goods and services, and establish 
clear and predictable rules and disciplines for foreign trade and private investment.  
4.169.   In that same vein, our bilateral trade relationship has been governed by the F ree Trade 
Agreement entered into by our countries on 1  January  2017, in which Peru granted immediate 
duty-free access for 82% of its tariff lines for products originating in Honduras and our country 
liberalized 77.1% of its tariff lines.  
4.170.   We note that an ad ditional 20.6% will become duty -free over a period of between 5 and 
10 years.  
4.171.   For 2018, imports from Peru amounted to some USD  46 million, consisting, among other 
products of residues and  waste  from the food industries, seeds and fruits and pharmaceutical 
products. Our exports to Peru came to around USD  9 million, consisting of residues 
and waste  from the food industries, lead and wood pulp, among other products.  
4.172.   With respect to the reports, we note that Peru was one of the region's fastest growing 
economie s, with a record of sustained growth in real GDP at an average annual rate of 4% between 
2012 and 2018, reflecting solid macroeconomic fundamentals and domestic demand.  
4.173.   Together with an extended period of economic growth, the reports indicate a reduction o f 
poverty levels and an increase in disposable income, contributing to an economic climate conducive 
to national development efforts. Total poverty contracted from 23.9% to 20.5% of the population, 
and extreme poverty from 4.7% to 2.8%, a remarkable improv ement.  
4.174.   The services sector grew at an average real rate of 4.1% per year between 2013 and 2018, 
accounting in 2018 for 51.7% of GDP.  
4.175.   We note from the reports that Peru is currently working with the OECD to be included in the 
Services Trade Restrictiveness Index (STRI).  
4.176.   We note also that during the review period, Peru implemented a number of measures aimed 
at fostering development and competition in the telecommunications sector and broadening and 
improving access to and coverage of services in the country. Notable among these are the adoption 
of new regulations to facilitate number portability, measures to protect users and new rules to 
manage the radio -frequency spectrum. Noteworthy as well is the public -private investment plan for 
the further development o f infrastructure in this sector.  
4.177.   Peru has adopted some important instruments, including the National Competitiveness and 
Productivity Plan 2019 -2030 and PENX  2025, among others.  
4.178.   Peru is a major producer and exporter of fishery products. Peruvian territory is also home to 
several of the world's largest mines and is Latin America's largest producer of gold, lead and zinc.  
4.179.   To conclude, our country congratulates Peru on its important efforts and achievements and 
wishes it every success in this fifth t rade policy review.  
ECUADOR  
4.180.   On 26  October  2018, during their Presidential Meeting and the 12th Meeting of their 
Binational Cabinet of Ministers, Ecuador and Peru celebrated the 20th anniversary of the 
Brasilia  Peace Agreements, which put an end to decades of armed conflict between our two countries 
and ushered in a new era in our bilateral relations.  WT/TPR/M/393 • Peru  
 
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  4.181.   We have since been deepening our bi -national integration in every sphere of activity, and 
trade is no exception. Prior to signature of the Peace Agreements, an nual trade levels between our 
countries never exceeded USD  300 million. The levels after signature reached as high as 
USD 3,000  million, stabilizing today at about USD  2,500  million.  
4.182.   Trade relations between Ecuador and Peru are solid, as reflected in the g rowth figures for 
both markets. Our exports to Peru exceeded USD  1,000  million in 2018 and USD  600 million up to 
July of this year.  
4.183.   Thanks to advantageous trade agreements within Andean Community (CAN) and the 
Latin American Integration Association (ALADI/ LAIA), Ecuador is now the 15th largest destination for 
Peruvian exports, and Peru the tenth largest destination for nonpetroleum exports from Ecuador.  
4.184.   There is still room for growth in our trade, and the productive sector has high expectations 
for Ecuador' s future incorporation as a full member of the Pacific Alliance.  
4.185.   Peru has been a fundamental ally of Ecuador in initiating the Pacific Alliance membership 
process, because it would clearly generate opportunities for both countries, as well as other Allianc e 
members. The development of trade, the free market offered by CAN and the stable legal 
frameworks found in both countries have made Peru and Ecuador strategic as well as trading 
partners in the region.  
4.186.   I will refer now to the reports presented for this r eview. We take note, first, of the sustained 
growth in Peru's GDP owing to the macroeconomic stability it has maintained in recent years.  
4.187.   Since the last Review, there have been signs of liberalization and progressive opening up of 
Peru's economy. The repor ts highlight the growing number of regional trade agreements to which 
Peru belongs, a network that is expected to continue expanding dynamically.  
4.188.   We welcome Peru's adoption and implementation of numerous trade facilitation measures 
and the creation of prog rammes to support MSMEs, which have clearly boosted entrepreneurship 
and exports.  
4.189.   We also welcome the transparency of Peru's tariff system, in which 99.4% of the tariff lines 
are ad valorem . It stands as an example to many other Members that still need to work on simplifying 
their tariffs.  
4.190.   We take a similarly positive view of Peru's efforts to strengthen its competition and 
government procurement regimes.  
4.191.   The country's progress in developing the services sector, and in particular 
telecommunications, fina ncial services, transport and tourism, are also noteworthy.  
4.192.   It is especially significant that, in initiating reforms to revitalize and diversify its economy, 
Peru has not lost sight of the development imperative and the need to address social inclusion, 
poverty reduction and public welfare throughout the development process.  
4.193.   According to economic forecasts, Peru will continue to experience steady economic growth 
in the years ahead. We hope that it will continue strengthening its economy in the sectors that 
require reinforcement.  
4.194.   To conclude, we would like to thank the delegation of Peru for its replies to our questions on 
specific aspects of its trade policy that are of greatest interest to my country, particularly the changes 
in customs procedures to facili tate trade, the issuance of import licenses, and the procedures for 
taking safeguard measures, among others.  
4.195.   Those replies were transmitted to our capital and will help to strengthen our bilateral trade 
relations.  
4.196.   We wish Peru every success in this review and hope that it will continue to move forward 
towards the goals it has set itself in its long -term plans.  WT/TPR/M/393 • Peru  
 
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  4.197.   Lastly, we cannot fail to recognize the tireless work performed in this Organization by the 
Permanent Mission of Peru in Geneva, under the capable di rection of Ambassador Silvia Alfaro.  
COLOMBIA  
4.198.   Peru is one of the most dynamic economies in Latin America, with which Colombia has 
maintained strong bilateral cultural, diplomatic and trade ties for years.  
4.199.   We recognize Peru's commitment to the multilateral trading system and its fundamental 
principles as one of the founding members of the WTO. We also recognize and appreciate the 
country's active participation in the ongoing negotiations and the functioning of the regular bodies.  
4.200.   Peru has recorded solid and sustained growth in recent years on the strength of its 
responsible macroeconomic management and the internationalization of its markets. The dynamism 
and openness of Peru's market are beneficial for the entire region, and particularly the country's 
neighb ours, including Colombia.  
4.201.   On matters of trade, Peru attaches great importance to regional integration as one of the 
main underpinnings of its foreign policy. It now has 19 agreements in force with 52 countries. Peru 
and Colombia, we are pleased to note, ha ve a particularly deep network of trade agreements. 
Together with Ecuador and Bolivia our countries are founding members of the Andean Community. 
More lately, our countries have joined with Chile and Mexico in the Pacific Alliance, one of the world's 
most dynamic regional trade agreements in recent years.  
4.202.   The Peruvian and Colombian economies are mutually nutritive, so the good news reported 
for this trade policy review are good for Colombia as well as Peru.  
4.203.   I should like to expand for a moment on the subjec t of the Pacific Alliance. That agreement 
is an essential and natural step towards the consolidation of trade relations within Latin America and 
with the Pacific Rim countries. The Alliance is being strengthened daily in all areas of public policy. 
Under a n ambitious expansion program, negotiations are now underway on last -generation 
Association  Agreements with Canada, Australia, New Zealand and Singapore. Work is also being 
done to define the terms of reference for closer future relations with Ecuador and South Korea.  
4.204.   In terms of tariff policy, we observe that Peru's average tariff level is relatively low and its 
tariff structure relatively simple, reflecting openness to international trade. In the area of customs 
procedures and foreign trade, we welcome the progress made and concrete actions carried out 
during the period under review, which built on the commitments arising from the WTO's 
Trade  Facilitation Agreement.  
4.205.   We should also highlight the progress Peru has made in recent years with respect to financial 
and telecommunications inclusion, including improvements in the technologies and standards used, 
which will unquestionably contribute to a more dynamic Peruvian economy.  
4.206.   Let me add a congratulatory note for Peru's initiatives in the area of eq ual opportunity and 
empowerment for women, as reaffirmed today by Vice Minister Bayona in mentioning such important 
programmes as "Ella Exporta". And I cannot conclude without expressing my personal admiration 
for a delegation led by a woman Vice Minister and a woman Ambassador.  
4.207.   The trade relations between Colombia and Peru are very close and have been strengthened 
over the past decade through such joint efforts as the Pacific Alliance. For Colombia it is important 
that Peru pursue the process of reviewing and deepening relations with its natural trading partners, 
with a view to achieving more favourable access conditions for mutual trade in goods and services.  
4.208.   Lastly, we wish Peru and its delegation a successful trade policy review. We extend our warm 
appre ciation to the team in Geneva for the cooperative relationship between our two Missions. We 
reiterate our full support for Ambassador Silvia Alfaro in her work in Geneva.  
  WT/TPR/M/393 • Peru  
 
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  AUSTRALIA  
4.209.   Australia congratulates Peru on its economic performance since its last r eview in 2013. Peru 
experienced sustained real GDP growth at an average annual rate of 4% between 2012 and 2018, 
one of the highest in Latin America. Per capital GDP increased and Peru kept unemployment low and 
reduced poverty levels. Its achievements are particularly impressive viewed in the context of lower 
global prices for minerals, Peru 's key export.  
4.210.   Australia welcomes Peru 's continued commitment to open and liberal trade. During the 
review period, Peru 's simple average tariff rate dropped from 3.2% i n 2013 to 2.2% in 2019, one of 
the lowest in the region. The average tariff applied on agricultural products fell from 3.9% to 2.9%. 
It is clear Peru understands that reducing tariffs and barriers to trade lowers costs for both 
consumers and producers alik e.  
4.211.   Australia and Peru enjoy a strong trade and investment relationship. In 2018, total two -way 
trade stood at AUD  700 million and Australian investment in Peru reached AUD716 million. An 
increasing number of Australian companies now operate in Peru, particularly in the mining and 
Mining Equipment, Technology and Services sectors. In 2018, mining represented 62% of Peru 's 
exports, for Australia this figure was 28%. Open trade and investment is critical to sustained growth 
in the mining and resources se ctor. Australia encourages Peru to maintain its receptive environment 
for foreign investment. Legal and policy certainty is critical for foreign mining investors.  
4.212.   Australia was pleased to sign a bilateral free trade agreement (FTA) with Peru in 
February  2018. Once in force, the agreement will eliminate more than 99% of tariffs between both 
countries within five years. PAFTA will also create a platform for significant growth for trade in 
services and investment between Peru and Australia and address contempo rary trade challenges in 
areas such as electronic commerce, supporting small - and medium -sized enterprises and intellectual 
property rights.  
4.213.   Peru, along with Australia, is a founding member of the Comprehensive and Progressive 
Agreement for Trans -Pacific Partnership (CPTTP). Signed in 2018, the CPTTP is one of the most 
comprehensive trade deals ever concluded and will eliminate 98% of tariffs for 11 countries with a 
combined GDP of more than AUD  13.8 trillion. Peru 's leading role in the creation of this hi storic trade 
agreement is to be commended. Australia encourages Peru 's ratification of the CPTTP, and will 
continue to work with Peru on the smooth implementation and expansion of the CPTTP 's membership 
in line with the agreement 's high quality rules and c omprehensive market access benchmarks.  
4.214.   Australia welcomes Peru 's important contribution to the Pacific Alliance and is pleased to be 
negotiating to become an Associate State of the Pacific Alliance through an ambitious FTA.  
4.215.   Like Australia, Peru places gr eat emphasis on the World Trade Organization (WTO) as the 
central pillar of a strong and open global trading environment. Australia commends Peru 's 
commitment to preserving and strengthening the WTO. As middle -sized countries well integrated 
into the globa l economy, Australia and Peru have a common interest in supporting the WTO and 
reform efforts underway, particularly as the organisation comes under significant pressure.  
4.216.   This shared interest in reform covers a number of key areas including negotiations o n 
fisheries subsidies, e -commerce and domestic services regulation, addressing dispute settlement 
issues and looking at areas where the WTO can improve on its current operations – including in 
relation to monitoring and transparency. In particular, we welc ome Peru efforts in submitting 
numerous notifications to the WTO in the review period, and its commitment to meeting this 
important obligation as a WTO Member.  
4.217.   As members of the Cairns Group we both also have a clear interest in exploring approaches 
to ref orm agricultural trade. The twelfth WTO Ministerial Conference represents an opportunity for 
the WTO to demonstrate its ability to tackle contemporary trade issues, including those of shared 
interest between Australia and Peru.  
4.218.   Australia applauds Peru 's achievements during the review period and congratulates Peru on 
its continued pursuit of liberal trade and economic policies. We look forward to further strengthening 
our trade and investment relationship.  WT/TPR/M/393 • Peru  
 
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  COSTA  RICA 
4.219.   Costa Rica is happy to participate in th is fifth trade policy review of Peru. Peru is an important 
South American trading partner for our country. Trade between the two countries is highly 
complementary and a free trade agreement has been in place between them since 2013 with a view 
to further s trengthening our trade relations. Since the signature of that agreement, our bilateral 
trade has grown at an average annual rate of 8%, amounting to USD  87 million in 2018.  
4.220.   From a multilateral standpoint, Costa Rica sees in Peru a Member strongly committed  to the 
multilateral trading system with a shared vision of foreign trade as a generator of opportunities and 
a means to exchange knowledge. As a founding member of the WTO and of the Cairns Group, Peru 
has played a leading role in shaping the system and c ontinues to be a key player in WTO negotiations 
to reform agricultural trade and on fisheries subsidies, areas in which it has always been constructive 
in its approach and open to dialogue.  
4.221.   Worth noting in recent years is Peru's notification of the accepta nce of the Protocol Amending 
the TRIPS Agreement and its ratification of the Trade Facilitation Agreement, in July  2016. Peru has 
shown openness in addressing new issues, and together with Costa Rica and other Members, 
participated in the Joint Statement o n Electronic Commerce, in terms of regulations on trade in 
services; the integration of MSMEs in international trade, and trade and economic empowerment of 
women.  
4.222.   Both the Secretariat and Government reports highlight the stability of the Peruvian economy 
and its recovery from the world financial crisis. On the economic and trade front, during the review 
period Peru maintained a steady real GDP growth rate of about 4%, helping to reduce poverty levels 
and increase disposable income.  
4.223.   Although there are aspect s of its trade policy that cause uncertainty, such as the price band 
system, Costa Rica views Peru as a partner with a transparent and open trading system, and 
welcomes the measures adopted by its Government in that connection, including ongoing applicatio n 
of trade facilitation measures and incorporation of the OECD principles for the promotion of private 
investment through public -private partnerships. But there are also important challenges in preparing 
for the structural transformation processes of the f ourth industrial revolution, including strategies 
for education and integration in the new global economy. In that vein, Peru might explore 
participating in the expansion of the Information Technology Agreement (ITA) as a springboard for 
the creation of sy nergies in the service innovation area.  
4.224.   The mining sector continues to play a preponderant role in the Peruvian economy, accounting 
for two thirds of its total exports in 2018, nearly 60% of which go to only three trade partners. This 
high degree of concen tration, in terms of both product and trade partners, increases the economy's 
vulnerability to unfavourable developments in the international prices of those products. That said, 
we see that an effort is being made to diversify production, especially in th e agricultural sector, 
whose export potential has improved substantially in recent years.  
4.225.   Costa Rica has an ongoing interest in Peru's trade policies, and in particular in the 
development of its policies to diversify production, attract investment and incr ease regional 
integration. We will follow with interest its implementation of the National Competitiveness and 
Productivity Policy and the alignment of its sustainable development goals with its agricultural and 
industrial policies.  
4.226.   Costa Rica raised quest ions on Peru's policies concerning trade facilitation, MSMEs, 
competition in the telecommunications sector, investment regime and incentives. We thank Peru for 
its answers during this review. Let me conclude by wishing Peru every success in this exercise.  
THAILAND  
4.227.   Thailand –Peru relations in all aspects have been developed continually. The distance and 
language are not the obstacles for the bilateral relations. The FTA between Thailand and Peru has 
been implemented since 2011. This agreement has served as a mechanism to further strengthen 
relations and strategic partnership in economic, trade and investment fronts. In 2018, bilateral trade 
amounted to 526.6 USD. Peru is the fifth largest trading partner of Thailand in Latin America, and WT/TPR/M/393 • Peru  
 
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  Thailand is number one  trading partner of Peru in ASEAN. Thailand hopes that our bilateral trade 
will continue to grow to further strengthen our economic relations.  
4.228.   The trade policy reports brought to light several areas of improvement in Peru 's economy 
since its previous trade policy review in 2013. Thailand is pleased to learn that Peru has sustained 
strong economic growth fuelled  by solid macroeconomic fundamentals and continuous domestic 
demand. In addition to GDP growth, reduction of povert y levels and increase in disposable income 
have bolstered the development in the country. Thailand recognizes and appreciates the Peruvian 
Government 's various initiatives to tackle a number of challenges, including poverty reduction, better 
governance and  the need for greater investment in infrastructure and higher levels of 
competitiveness.  
4.229.   Thailand commends Peru 's consistent efforts in promoting trade facilitation, including in the 
following areas: customs operations, foreign trade logistics, institution al coordination and 
simplification of administrative formalities. We also welcome incentive programmes, mainly intended 
to promote innovation and competition, MSMEs and regional development.  
4.230.   Thailand appreciates Peru 's contribution and commitment to streng thening the multilateral 
trading system. As Cairns Group Members, Thailand has close working relationship with Peru in 
agriculture negotiations with a shared view of pushing for successful reforms in agriculture. We 
commend Peru 's proactive contributions i n the ongoing negotiations with a view to achieving 
outcomes in this significant area by MC12.  
4.231.   Thailand notes that Peru continues to apply a price band system to some agricultural goods 
such as rice, sugar, maize, and dairy products. We understand that tar iffs under this system are 
determined according to an ad valorem component and a specific one. We would be interested to 
get more information on the calculation of specific component and the determination of price band.  
4.232.   In closing, we wish Peru a successfu l outcome in this Trade Policy Review.  
MALAYSIA  
4.233.   We deemed that this Review is important to evaluate Peru 's effectiveness in achieving its 
policy objectives.  
4.234.   Malaysia commends Peru 's strong macroeconomic fundamentals and sustained economic 
demand with real GDP growth at an average annual rate of 4% between 2012 and 2018. We note 
from the Secretariat report that Peru remains as an open economy, characterized by low tariff levels 
and few restrictions to international trade.  
4.235.   At the multilateral front, we also c ongratulate Peru for its continuous active participation in 
different economic and trade forums and arrangements and her pursuance in trade negotiations 
agenda at the multilateral, bilateral and regional levels.  
4.236.   On Malaysia and Peru bilateral trade, we wo uld like to note that in 2018, Peru was Malaysia 's 
6th largest trading partner, among the Latin American countries. On the same year, Malaysia 's total 
trade with Peru increased by 10.6% to USD  300 million compared with USD  260 million in 2017. 
Malaysia 's exports to Peru recorded a 50.0% increase to USD  190 million compared with 
USD 120 million in 2017.  
4.237.   Malaysia 's major exports to Peru were palm oil -based manufactured products (20.2%) 
followed by electrical and electronic products (18.4%); rubber products ( 11.9%); chemicals and 
chemical products (11.3%); and machinery, equipment and parts (7.4%). Meanwhile, the major 
imports from Peru were metalliferous ores and metal scrap (68.8%); followed by other agricultures 
(19.9%); crude fertilizers and crude minerals  (5.0%); manufactures of metal (3.7%); and chemicals 
and chemical products (0.8%).  
4.238.   As at 2018, net foreign direct investments (FDI) stock from Peru to Malaysia reached 
USD 0.145 million. Meanwhile Malaysia 's net direct investment abroad stock to Peru was 
USD 1.75 million largely in the manufacturing and construction services sector.  WT/TPR/M/393 • Peru  
 
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  4.239.   The bilateral trade between Malaysia and Peru has been on an encouraging trend, growing 
steadily every year. In this context, we appreciate Peru 's commitment for an open t rade policy and 
its continuous effort in addressing challenges to facilitate trade.  
4.240.   To conclude, we thank Peru 's response to our questions , and we shall examine the responses 
with great interest. We wish Peru a productive Trade Policy Review.  
THE PHILIPPIN ES 
4.241.   The Philippines and Peru enjoy a modest but growing trade relation in the recent years. 
Philippine imports from Peru expanded by 42% from USD 134 million in 2017 to USD 190 million in 
2018 mainly due to the increase in the importation of copper ores and  concentrates. Conversely, 
Philippine exports to Peru also grew by 22% from USD 35 million in 2017 to USD 42 million in 2018 
due to the increase in the exportation of automatic data -processing units, and fish fats and oils.  
4.242.   Peru has demonstrated sustained economic growth during the period under review, with an 
average annual GDP growth rate of 4%. Their sustained economic growth has gone hand in hand 
with increases in their per capita GDP, which rose from USD 6,393 in 2012 to USD 6,909 in 2018. 
The extended  period of economic growth, reduction of poverty levels and increase in disposable 
income have bolstered the country 's development process.  
4.243.   Foreign trade is one of the main drivers of the Peruvian economy. Their open trade regime, 
characterized by low tari ff levels and few restrictions to international trade, has driven their economic 
growth, which in turn helped their country to integrate into global markets and value chains.  It has 
remained active in bilateral and regional trade negotiations and is a par ty to 19 trade agreements 
with 53 countries. It is a founding Member of the WTO and a signatory to the Trade Facilitation 
Agreement. It is also a signatory to the Information Technology Agreement but did not participate 
in its recent expansion.  
4.244.   The Philip pines acknowledges Peru 's efforts to reform its fiscal policies to ensure fiscal 
sustainability, predictability of public expenditure and transparent management of public funds. We 
also note the establishment of the Fiscal Stabilization Fund, which is made  up of resources 
accumulated in surplus years to help them in dealing with emergency situations, such as natural 
disasters.  
4.245.   Further, the Philippines shares the importance given by Peru in supporting micro and small 
enterprises through the creation of the MSME Fund and the National Plan for Promoting and 
Formalizing the Competitiveness and Development of Micro and Small Enterprises. The Philippines 
appreciates Peru 's recognition of the important role MSMEs in achieving inclusive growth and 
sustainable devel opment, and looks forward to continue working together in advancing this initiative 
in the WTO.  
4.246.   The Philippines has submitted some advance written questions on the trade policy review 
reports , and we thank the delegation of Peru in advance for their respon ses. 
4.247.   In closing, the Philippines looks forward to further enhancing the mutually beneficial 
economic relations between our countries in the bilateral, regional, and multilateral fora.  
PARAGUAY  
4.248.   Paraguay wishes to congratulate Peru on its open economy, very low tariff levels and limited 
obstacles to international trade. As indicated in the Secretariat's report, Peru has enjoyed a 
prolonged period of economic growth, with real GDP rising at an aver age annual rate of 4% between 
2012 and 2018, one of the highest in Latin America. It has also made significant progress in reducing 
poverty (20.8% in 2017 according to national indicators but only 3.4% according to international 
ones). But challenges remai n, and in particular the disparities between urban and rural areas.  
4.249.   We applaud Peru's authorities for their strong inclusive development agenda focused among 
other things on implementing reforms that seek to achieve more effective governance, particularly 
by fighting corruption head -on through its National Pro -Integrity and Anti -Corruption Policy and 
National Pro -Integrity and Anti -Corruption Plan, as well as its accession to international instruments WT/TPR/M/393 • Peru  
 
- 36 - 
 
  that strengthen national initiatives, including such OEC D conventions as the one on "Mutual 
Administrative Assistance in Tax Matters", to which Paraguay has also acceded.  
4.250.   The high level of investment in the country, as well as its adoption of an agenda to expand 
trade in goods and services through PENX  2025, ha ve the potential to boost economic growth 
through improved competitiveness and productivity. We are interested in Peru's system of general 
incentives for the promotion of innovation and competitiveness with a strong focus on MSMEs and 
regional development.  We would single out, for example, the INNÓVATE Perú programme, created 
in 2014, and the CRECER Fund, created in 2018. The latter is an amalgamation of various funds, the 
resources of which can be used through the "150th Anniversary of the National Epic 18 64–1870" 
financial system, up until 2048, to provide loans for the acquisition of fixed assets and/or working 
capital, and to grant guarantees and/or credit coverage, among other operations.  
4.251.   Noteworthy as well is the importance Peru attaches to bilateral a nd regional trade 
negotiations. Peru has 19 trade agreements with 53 countries, reflecting its intention to help 
strengthen regional economic integration with a view to improving trade conditions with key 
partners. Peru maintains preferential tariffs for P araguay through ECA  58, within the framework of 
ALADI/LAIA.  
4.252.   Within the WTO itself, we commend Peru for according such importance and support to 
bolstering the multilateral trading system, and we especially note its active participation in the 
various WTO c ommittees, groups and initiatives.  
4.253.   Peru participates actively in the negotiations to reform the WTO, fisheries subsidies, national 
regulations in respect of services and the Joint Initiatives. We wish to thank the delegation for its 
leadership in coordinating efforts among members of the WTO's Lima Group and express our 
appreciation to Ambassador Silvia Elena Alfaro Espinosa and the entire delegation in Geneva.  
4.254.   On behalf of my country, I offer renewed congratulations to those conducting this review  
and to the delegates from the Permanent Mission of Peru in Geneva on their invariably active 
involvement and contribution to this Organization's work. We wish them every success in this review.  
INDIA  
4.255.   During the period under review, the economy of Peru gre w at an average annual rate of 4 %. 
The per capita GDP also increased from USD 6,393 to USD 6,909. Peru 's economic growth driven by 
strong macro -economic fundamentals has led to overall development in the country. Trade is an 
important component of Peru 's economy with their trade to GDP ratio at 48 per cent, and the mining 
sector being the major contributor. However, Peru also faces a number of challenges including 
addressing poverty, increasing investments in infrastructure and diversifying the economy. We 
commend the government of Peru for the various measures adopted to address these challenges 
and promote trade. This includes their national strategic export plan with the objective of enabling 
local companies to go international, diversifying exports and e nhancing competitiveness.  
4.256.   India shares close and friendly relations with Peru. There are regular high -level exchanges 
between both countries and a broad framework of institutional mechanisms is being put in place to 
strengthen our bilateral relations. Tra de between India and Peru stood at USD 3.13 billion in 
2018-19. There is considerable potential to strengthen trade between both countries in areas 
including automobiles, textiles, pharmaceutical, plastic products, oil and gas industry, minerals, 
metals an d agricultural products. The presence of Indian companies in Peru is growing with 
investments in various areas including mining, IT, automobiles and pharmaceuticals, companies 
from Peru are also investing in India in areas including beverages, mining servi ces, machinery and 
financial services.  
4.257.   We also wish to highlight a few issues which are impacting the potential of our trade ties:  
• Peru imposed anti -dumping duty on import of polyviscose fabrics from India in 2011 which 
has been extended. We urge the Gove rnment of Peru to review these measures and our 
authorities can provide any additional information, if required.  WT/TPR/M/393 • Peru  
 
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  • While investments between both countries are growing, Indian pharmaceutical companies are 
facing difficulties due to the complex registration and regulatory regime in Peru.   
• There is considerable potential to increase our trade in agricultural products. Authorities of 
both countries have been in touch in this regard to identify products in this area and we look 
forward to strengthening trade in  this area.   
4.258.   Before I conclude, let me reiterate that India is committed to strengthening and deepening 
our partnership in all areas with Peru, including our trade and economic ties. We wish the delegation 
of Peru a productive and successful Trade Policy Review.  
REPUBLIC  OF KOREA  
4.259.   Korea and Peru have enjoyed an excellent economic relationship over the years. Last year, 
the two -way trade volume between the two countries reached USD 3.3 billion which is 65% greater 
than that of 2010, the year before the two countries entered into force free trade agreement in 
August 2011. Moreover, our economic relationship will be further enhanced since Korea and Peru 
are to adopt a zero percent tariff until 2021 on all items currently tradable.  
4.260.   While Korea mainly exports au tomobile, synthetic resin, truck, and refined oil, Peru 's top 
exporting commodities are copper, natural gas, zinc and other minerals. So, I believe that our 
trading relationship is quite complimentary, utilizing the respective competitive advantages.  
4.261.   We a re pleased to note that the negotiation for adopting Korea as an associate member 
recently started between Korea and the Pacific Alliance, which consists of Latin America 's four 
countries: Peru, Mexico, Chile and Colombia. Korea anticipates cooperative and  productive 
negotiation early 2020. We will engage in the negotiation process in an active manner.  
4.262.   Peru has reformed the legal and institutional framework of the public procurement systems 
in line with international best practices. We are sure that these r eforms will contribute to increasing 
the efficiency and transparency of Peru 's public procuring activities. But there is a long way ahead 
for such reforms to be implemented. Korea, as a country adopting a central procuring system, is 
ready to cooperate wit h Peru in the various areas of public procurement including sharing knowledge 
and experience, upgrading the e -procurement system, among others.  
4.263.   We note that Peru has achieved steady economic growth since its previous TPR in 2013 as 
the Secretariat report h ighlights. It is noteworthy that its real GDP grew at 4% annually between 
2012 and 2018. Supported by Peru 's open and investor -friendly policy package, the foreign direct 
investment continued to show solid performance.  
4.264.   Above all, we recognize and praise Pe ru's strong commitment to an open and multilateral 
trade system. During the review period, Peru has continued to cut back tariff rate. And it also 
improved its WTO commitments by adopting trade facilitation measures including customs operation, 
foreign tra de logistics, and the simplification of administrative procedures. We also note that Peru 
has continued to pursue trade liberalization through regional and bilateral trade agreements.  
4.265.   While it is fair to highlight Peru 's achievements, I would like to point  out some aspects of the 
country 's trade -related policies. We are concerned that Peru 's export heavily depends on raw 
materials, which is not desirable in terms of vulnerability from external shocks. We also note that 
Peru needs to pay attention to buildin g on healthy human capital. Education, vocational training, 
and health are definitely the sectors to be financed by public resources.  
4.266.   Korea is pleased to note the steps Peru has taken since the last review to make the overall 
trading environment more effic ient. We certainly encourage Peru to continue in the direction of 
facilitating trade, increasing investment, strengthening administrative capacity, and enhancing the 
overall economic environment in a sustainable way.  
4.267.   Korea looks forward to working with Peru to enhance opportunities for trade and investment.  
  WT/TPR/M/393 • Peru  
 
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  JAMAICA  
4.268.   Jamaica and Peru have shared bonds of friendship and cooperation over many years. The 
bilateral trading relationship between both countries has been generally stable, with the balance of 
trade skewed in favour of Peru. In 2018, the value of imports from Peru to Jamaica peaked at 
USD 12,062,606, largely due to the trade in chemical and related products, including plastics and 
film foil. Other imports from Peru included plastic bo ttles and sweet biscuits.  
4.269.   In contrast, the value of Jamaica 's exports to Peru has continued to be low. In 2018, our 
total exports to Peru was valued at US D 1,004,690, which mainly comprised rum and other spirits. 
Re-exports to that country, specifically b oat or dock fenders, also reached their highest level in 2018.  
4.270.   The reports reveal that despite challenges linked to an unfavourable international climate, 
the Peruvian economy recorded unbroken economic growth over the past two decades and a GDP 
growth rat e of 3.7% during the 2013 -2018 period, which was among the highest in the region.  
4.271.   Peru's positive growth 's trajectory is largely attributed to the Government 's strong 
macroeconomic policies and fiscal discipline which have also led to a marked reduction in  the levels 
of unemployment, as well as poverty and inequality within the country. This trend is expected to 
continue.  
4.272.   In addition, we note positively, that Peru has continued to prioritise its trade policy  - National 
Strategic Export Plan 2025 (PENX 2025 ) - and its investment policy as important tools to boost the 
country 's economic growth and improve the quality of life of its citizens. In this regard, focus has 
been placed by the Government on the expansion of investment opportunities in key productive 
sectors, including those relating to natural resources, agro -industry, textiles and tourism.  
4.273.   Further, Peru has been rapidly increasing its participation in bilateral and regional trade 
agreements with partner countries in pursuit of its national growth an d development objectives, as 
well as to strengthen its role in global trade. These efforts have been in keeping with the Peru 's 
National Strategic Development Plan and the 2030 Agenda on Sustainable Development.  
4.274.   Positive mention should also be made of the  fact that Peru is ranked 5th among Latin 
American countries and 68th out of 190 countries in the 2019 World Bank 's Doing Business Report.  
4.275.   The strides being made by Peru to advance its single window for foreign trade (VUCE), and 
to bolster implementation o f the Trade Facilitation Agreement are also highlighted for 
commendation.  
4.276.   As a founding Member of the World Trade Organization and a contracting party to the GATT 
since 1951, Peru has maintained its active participation within the organisation, including i n the 
ongoing fisheries subsidies negotiations and the joint statement initiative on electronic commerce. 
Jamaica joins in applauding Peru 's longstanding commitment to the maintenance and strengthening 
of a rules -based multilateral trading system that is e quitable, predictable and transparent.  
4.277.   In closing, Jamaica congratulates Peru for the significant gains made since its last review 
and for its continued and constructive contribution over the years to the multilateral trading system. 
We further wish the d elegation every success in its current review.  
TRINIDAD  AND  TOBAGO  
4.278.   We are pleased to be part of today 's fifth Trade Policy Review of Peru.  
4.279.   We note from the Reports submitted that over the period of the review, Peru has maintained 
its policy thrust toward openness and liberalization toward predictable trade based on fair 
competition, clear rules and reduced barriers. This has been demonstrated by the openness of Peru 's 
economy with low tariff levels and few trade restrictions, and its outward look in  relation trade 
arrangements with its 19 trade agreements with 53 countries.  WT/TPR/M/393 • Peru  
 
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  4.280.   Trinidad and Tobago also believes that, as stated in the Report by Peru, trade and investment 
policies are important tools to boost economic growth and with a goal of contributin g to social 
inclusion and improving people 's living standards.  
4.281.   It is heart -warming  to see that the Peruvian economy has continued to reap the results of 
such policies. The Reports indicate that Peru has maintained strong macroeconomic fundamentals 
and is experiencing positive economic growth and continued improvement of social indicators such 
as employment, poverty reduction and inequality.  
4.282.   Trinidad and Tobago also commends that the Peruvian delegation on the structured approach 
taken through its National  Strategic Export Plan – PENX 2025, with its stated three objectives of 
enabling local companies to go international; increasing diversified exports; and enhancing 
competitiveness.  
4.283.   We wish Peru a successful Trade Policy Review.  
PANAM A 
4.284.   Trade relations betwe en Panama and Peru date back to the colonial era and continue today: 
Peru is an important trade partner for Panama and one of the leading users of our Canal.  
4.285.   Over the past 20 years we have seen Peru strengthen and diversify its economy, with a 
growth rate exceeding the regional average. Peru is one of the leading countries in Latin America in 
terms of the number of its free trade agreements, which have played an essential role in its economic 
growth.  
4.286.   The free trade agreement between Panama and Peru has been in force since 2012. It is 
considered a new -generation agreement that covers most tariff subheadings for goods, with tariff 
preferences between both countries, and includes areas such as services, investment, and 
government procurement. Since its entr y into force in both countries, over 57% of the tariff lines 
were automatically liberalized by the Republic of Panama with respect to Peru.  
4.287.   Trade between Peru and Panama exceeds USD  410.8  million, two thirds of which consists of 
purchases by Peru in the Co lón Free Zone. Peru's exports to Panama amounted to USD  120 million, 
consisting of a variety of products, such as edible oils, fresh grapes and fish feed. Panama's exports 
to Peru consisted of frozen fish, tomato paste, bovine meat and rum, among other pro ducts.  
4.288.   In addition to this trade in goods, Peru is one of the 20 largest investors in Panama. The air 
connection between Panama City and Lima served more than 500,000 passengers last year, making 
it one of the seven leading air connections for both countri es and Peru's leading connection with 
Central America and the Caribbean. We would also highlight the importance of the Panama Canal 
for our trade with Peru. Among the Canal's 15 leading users, in terms of cargo transported through 
it by vessel, Peru ranks sixth.  
4.289.   We congratulate Peru for its active role in the multilateral system, as one of the founding 
Members of the WTO. Alongside Panama, Peru is working through its active and effective delegation 
in Geneva in the negotiations on fisheries in the "6 -LAT" G roup and is also involved in initiatives 
such as investment facilitation, electronic commerce and gender. We also congratulate Peru on its 
preparation for this trade policy review and wish the Mission every success in that process.  
JAPAN  
4.290.   Peru is the first country in Latin America that Japan established diplomatic relations with. 
Since our relations began about 140 years ago, Peru and Japan have developed a strong partnership. 
For the better part of a decade now we have been working to further solidify that partnership via 
the Japan -Peru Economic Partnership Agreement, agreed on in 2012, and the Comprehensive and 
Progressive Agreement for Trans -Pacific Partnership, which was signed in 2018. We look forward to 
Peru successfully completing the internal process for ratification of the CPTPP and to further 
advancing our economic partnership.  WT/TPR/M/393 • Peru  
 
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  4.291.   We appreciate Peru 's economic achievements during the review period, which include an 
average of 4% annual growth of real GDP and an increase in per capita GDP from USD 6,393  to 
USD 6,909. It is also notable that poverty was reduced along with this economic growth. Having 
said that, we look forward to seeing Peru overcoming development challenges such as further 
reduction of poverty levels, better governance, attracting invest ment for infrastructure and 
becoming more competitive.  
4.292.   Turning to Peru 's trade policy and participation in the WTO, we appreciate the country 's 
commitment to promoting the rules -based multi -lateral trading system as a founding Member of the 
WTO. In line w ith WTO rules, Peru submitted many notifications to promote transparency during the 
review period. Peru is a signatory to the Trade Facilitation Agreement (TFA), and has scheduled the 
majority of Category A commitments for immediate implementation. We note  the continuous efforts 
Peru has made to improve its trading environment by adopting trade facilitation measures in areas 
such as customs operations, foreign trade logistics, institutional coordination and simplification of 
administrative formalities. We p ositively evaluate the establishment of the Multisectoral Commission 
for Foreign Trade Facilitation, among other institutional and legislative measures taken by Peru. 
Among the main WTO negotiating issues, we also look forward to Peru 's further active cont ributions, 
as one of the major fishery countries, to the discussion on fishery subsidies.   
4.293.   We further appreciate Peru 's active approach to new areas such as e -commerce and MSMEs 
as shown by its participation in the joint declaration at the Eleventh Ministerial Conference in Buenos 
Aires in 2017.   
4.294.   At the same time, we look forward to seeing Peru considering further engage ment in other 
areas of the WTO. For example, Peru is a signatory to the Information Technology Agreement but 
did not participate in its expansion. With regard to Government Procurement, during the review 
period, Peru has worked on improving its procurement  system by reforming its legal and institutional 
framework to meet international best practices. As this is an area of interest for Peru, participation 
in the Government Procurement Agreement would be beneficial for the country to achieve more 
efficient an d effective management of public resources.  
4.295.   As more than 60% of exports from Peru are mineral products that are significantly affected 
by international prices, we understand that attaining high value -added and diversified goods and 
services for export is o ne of the key challenges for the Peruvian economy. In this respect, we 
appreciate Peru 's efforts under the National Strategic Export Plan, which aims to strengthen the 
export sector.  
4.296.   In addition, we positively evaluate Peru 's efforts to steadily attract F oreign Direct Investment 
during the review period. This appears to be a positive result of Peru 's investment regime, which is 
open to both domestic and foreign private investment in a basically equal manner.  
4.297.   We believe that a more open, transparent and no n-discriminatory business environment 
would contribute to promoting competition and innovation, and would also lead to enhancing the 
competitiveness and productivity of Peru 's private sector.  
4.298.   In this regard, we appreciate Peru 's commitment to promoting be tter functioning markets 
and improving its overall investment and business environment through the introduction of reforms 
to its competition regime.  
4.299.   In conclusion, we firmly believe that Peru will be well placed to continue pursuing an open, 
transparent and non -discriminatory market by observing its commitments to the WTO. We wish Peru 
a successful and productive TPR, and look forward to hearing of further progress regarding its trade 
and investment policies at its next TPR.  
TAJIKISTAN  
4.300.   The Republic of Ta jikistan commends Peru for significant achievements made since its last 
TPR. Since its previous Trade Policy Review in 2013, Peru has continued to experience sustained 
economic growth. Real GDP grew at an average annual rate of 4% between 2012 and 2018.  WT/TPR/M/393 • Peru  
 
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  4.301.   We welcome the efforts of Peru, particularly to advance WTO reform discussions and its 
active engagement in a number of plurilateral and multilateral initiatives at the WTO.  
4.302.   Peru is a signatory to the Information Technology Agreement (ITA). It also ratifie d the WTO 's 
Trade Facilitation Agreement (TFA) in July 2016 and scheduled the vast majority of its Category A 
commitments for immediate implementation.  
4.303.   During the review period, Peru submitted numerous notifications to the WTO and participated 
in two case s as the respondent and in three as a third party before the Dispute Settlement Body 
(DSB).  
4.304.   In conclusion , the Republic of Tajikistan highly appreciates the hard work and strong 
commitment of Peru and wishes a very successful and productive Trade Policy R eview.  
EL SALVADOR  
4.305.   It is an honour for El Salvador to participate in this transparency exercise. In these times of 
global uncertainty in which the validity and relevance of the multilateral trading system is constantly 
being called into question, this exer cise helps to give Members a broad vision and deep knowledge 
of the trade and trade -related policies of our trading partners.  
4.306.   As we have been informed during this fifth trade policy review, Peru has continued to 
experience sustained economic growth. Real G DP grew at an average annual rate of 4% between 
2012 and 2018, reflecting solid macroeconomic fundamentals and sustained domestic demand. 
Per capita GDP rose from USD  6,393 in 2012 to USD  6,909 in 2018. As indicated in the Secretariat's 
Report, Peru's exte nded period of economic growth, reduction of poverty levels and increase in 
disposable income clearly confirm the development strides Peru has made.  
4.307.   As part of Peru's efforts to remain on the path of economic growth, the Government has 
taken a variety of s teps in its implementation of the National Competitiveness and Productivity Policy 
and the National Integrity and Anti -Corruption Plan.  
4.308.   In the fiscal area, despite moving from a situation of fiscal surplus in 2012 and 2013 to one 
of growing deficits betwee n 2014 and 2017, partly due to diminishing incomes as a result of lower 
mining product prices and the effects of natural disasters, Peru has managed to address a worsening 
fiscal situation by introducing a new fiscal framework aimed at ensuring fiscal sust ainability, 
predictability of public expenditure and transparent management of public funds.  
4.309.   Also noteworthy is the Fiscal Stabilization Fund (FEF), which is made up of resources 
accumulated in surplus years to deal with emergency situations, such as natur al disasters.  
4.310.   With regard to  its foreign trade, Peru exports mainly minerals, which accounted for 61.6% 
of total exports in 2018. Its leading export is copper, representing 31.2% of total exports in 2018, 
followed by gold (14.8% of the total). The share of agricultural products in th e total amount of goods 
exported rose from 15.2% in 2012 to 19.1% in 2018. Peru's leading trade partners are China, the 
United States and the European Union.  
4.311.   One of the challenges to be faced by the Peruvian Government going forward is to continue 
boosting  initiatives for the diversification of exportable supply while decreasing the economy's 
dependence on copper and gold. Worthy of mention here is PENX  2025, which seeks to project 
Peruvian firms into the international arena, increase exports of value -added  goods and services in a 
sustainable and diversified manner, and enhance the competitiveness of the export sector. We are 
certain it will reduce the country's dependence on minerals.  
4.312.   Also noteworthy is Peru's extensive network of trade agreements with more  than 
53 countries, with new agreements continually being negotiated.  
4.313.   It must be recognized as well that Peru maintains a regime open to private investment - both 
domestic and foreign - that promotes competition and equal treatment. Foreign investments do not 
require prior authorization and there is no registration obligation. Foreign investors are guaranteed 
the free repatriation of all the capital, dividends or profits from their investments.  WT/TPR/M/393 • Peru  
 
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  4.314.   In terms of multilateral relations Peru participates actively i n WTO deliberations on diverse 
topics. The country lays great emphasis on the importance of the WTO as the multilateral system's 
forum for agreeing disciplines and commitments aimed at reducing international barriers to trade. 
Peru is especially active on several negotiation fronts, including fisheries subsidies, agriculture and 
national regulations. Peru also participates in the discussions on electronic commerce and the 
facilitation of investment.  
4.315.   We congratulate Peru on the significant number of notifications it submitted to the 
WTO Secretariat during the period under review.  
4.316.   We also congratulate Peru for the trade facilitation measures it has taken, including 
promotion of the use of advance clearance, speeding up of deferred clearance, improved r egulations 
on customs brokers and the promotion of logistics platforms.  
4.317.   It only remains for me to wish Peru every success in this review.  
  WT/TPR/M/393 • Peru  
 
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  5  REPLIES BY THE REPRE SENTATIVE OF PERU  AND ADDITIONAL COMM ENTS  
5.1.  I should like to thank the Members of the WTO for the great interest they have shown in this 
fifth trade policy review of Peru. The Peruvian delegation values the constructive dialogue we heard 
during the first day of this meeting and appreciates in particular the statement made by Ambassador 
Tan Hung Seng of  Singapore, as discussant, as well as those made by the Members of this 
Organization.  
5.2.  We hope that the reports provided by the Secretariat and by our Government, as well as our 
presentation on Tuesday and the written answers provided to the questions sent in by Members, 
have contributed to a better understanding of Peru's economic and trade policies. We are still 
preparing our answers to the latest questions received and will circulate them within the prescribed 
time frames.  
5.3.  This is a great opportunity for us to share our experiences and receive comments and 
contributions from other countries as a basis for continuing improvement of our policies. We consider 
this review to be further proof of our commitment to the principle of transparency in the multilatera l 
trade system and to our undertakings as a Member of this Organization.  
5.4.  I should next like to refer to a number of topics raised during the first session and provide 
additional information on the matters raised.  
5.5.  Let me first express thanks for the Members ' positive comments about the main aspects of 
Peru's economic and trade policy as well as the results obtained.  
5.6.  In recent years, we have widened our approach to open -market policy to encompass how best 
to exploit the resulting opportunities, with increased  emphasis on our internal agenda. We appreciate 
in that connection the positive comments about PENX  2025. This instrument represents a long -term 
policy effort aimed at strengthening institutional capacity for an internationalized, sustainable 
business sect or in Peru.  
5.7.  We also appreciate the interest expressed in our National Competitiveness and Productivity 
Policy and Plan . As you know, our macroeconomic policies since the 1990s have helped us to join 
the ranks of middle -income countries. We now need to make  a new leap forward if we are to realize 
our aspiration of achieving developed country status over the medium and long -term. Our strategy 
therefore identifies and coordinates crosscutting needs in our country in such areas as human capital, 
innovation, inf rastructure, business climate and sustainability.  
5.8.  Extensive work has been done on coordination among the public, private and academic sectors 
in pursuing these objectives, including transparency mechanisms enabling citizens to follow 
implementation of the Plan using a web application that is already up and running.  
5.9.  We appreciate the comments on our MSME initiatives, including the Innóvate Perú programme, 
the internationalization of businesses and the export credit insurance scheme for SMEs, among 
others. Th e MiPYME al Mundo strategy we presented on Tuesday will help to strengthen these efforts, 
expanding the export base through the inclusion and formalization of MSMEs.  
5.10.   Members highlighted Peru's efforts to fulfil its WTO notification obligations. Peru did in deed 
devote close attention to transparency during the review period and will of course continue attending 
diligently to pending notifications.  
5.11.   The comments on Tuesday and the written questions indicated interest in our government 
procurement system, with some Members making suggestions about Peru's participation in the WTO 
Agreement on Government Procurement. In that connection we have been steadily improving our 
procurement rules, incorporating high standards to that effect in our trade agreements and app lying 
the OECD recommendations. Recent amendments to the government procurement law seek to 
optimize and simplify government procurement processes by developing mechanisms to promote 
the standardization of requirements, effective competition, transparency,  citizen oversight and 
accountability.  WT/TPR/M/393 • Peru  
 
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  5.12.   With regard to regulatory policies, Peru improved and strengthened the rigor of its evaluation 
processes for internal regulation during the review period, increasing the use of regulatory impact 
analysis in line with best international practices. We have introduced practices for evaluation of the 
reasonableness and effectiveness of regulatory proposals, international notification of such 
proposals, and the consideration of comments received from interested parties in t he country and 
abroad. We are committed to maintaining these spaces for dialogue and to continuously evaluating 
and reviewing the effects of national policies as applied.  
5.13.   On this last point I should note that Peru evaluated more than 2,400 administrative 
procedures during the review period and decided on that basis to eliminate more than 700 of them, 
and to simplify or adjust many others.  
5.14.   Also in accordance with the objectives of regulatory improvement we have been considering 
comments and suggestions recei ved from our trading partners in the development of labelling rules 
for the use of genetically modified ingredients, a topic mentioned by some of the Members.  
5.15.   I should also mention the moratorium on the introduction into and reproduction on the 
national te rritory of living modified organisms (LMOs) for the purposes of cultivation or breeding and 
for release into the environment. This measure is aimed at buttressing national capacities, 
developing infrastructure and generating the basic guidelines regarding the native biodiversity, 
allowing for proper evaluation of the release of LMOs into the natural environment. Peru is open to 
dialogue on the subject.  
5.16.   In the area of sanitary and phytosanitary measures, Peru is working to simplify and optimize 
procedures in  respect of foreign trade. Progress on this front includes the Single Window for Foreign 
Trade, and the cooperation project "Improving health management for trade facilitation", which 
involves the country's health, trade, customs and ports authorities. Thi s project is designed to 
strengthen the capacity of health authorities for compliance with the Trade Facilitation Agreement. 
These efforts form part of the National Strategic Export Plan and the National Competitiveness and 
Productivity Plan . 
5.17.   In response to a comment made on Tuesday about the Single Health Certificate, this is a 
mechanism to facilitate imports of processed products of animal origin, incorporating in a single 
document the health and animal health requirements defined by the Departm ent of Health and Food 
Safety (DIGESA), and the Department of Animal and Plant Health (SENASA), respectively. This 
certificate is processed in coordination with the trade partners seeking to export such products to 
Peru, and specific time limits apply.  
5.18.   We take note of the comments regarding the price band system. It is important to note that 
during the review period the maximum limit on the applicable level was reduced significantly, placing 
it well below our bound tariff. This mechanism, moreover, applies to only 0.6% of Peru's tariff 
universe. We take note as well of the appreciative comments by various Members about the 
excise  duty on the consumption of  certain  alcoholic beverages.  
5.19.   There was a question about the initiatives for the rational use of fossil fuels. In that area, in 
line with its sustainable development goals, Peru has been working to increase the share of 
renewables in our energy matrix through such measures as Legislative Decree No. 1002, promoting 
investment in power generation using renewab le energy resources. To add to our written response 
on this point I would note that within the framework of APEC, Peru was one of the first countries to 
undertake a voluntary review of its practices to identify inefficient subsidies for fossil fuels. That 
analysis found no significant distortions in our fuel consumption patterns and highlighted our plans 
and progress in changing our energy matrix.  
5.20.   Intellectual property rights are recognized by Peru as important for national economic 
development. We therefor e welcome the comments received about the development of a National 
Intellectual Property Policy, providing  general directives and guidelines to achieve greater respect, 
appreciation and use of the intellectual property system as a whole. Peru includes pro visions on 
intellectual property in its preferential trade agreements, with spaces established for discussion on 
their implementation.  WT/TPR/M/393 • Peru  
 
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  5.21.   I refer now to valuable comments made by the discussant and the Members with respect to 
pending challenges on the economic and trade agenda of my country.  
5.22.   Without doubt, closing the infrastructure gap is crucial for purposes of competitiveness as well 
as economic and social inclusiveness. Our strategic planning therefore gives high priority to this area 
in the short, medium and long term. We have been pleased to share with you information on our 
new National Infrastructure Plan and hope to report on its results when this body conducts its next 
trade policy review.  
5.23.   With respect to challenges in the area of governance, i n addition to continuing our frontal 
attack on corruption, Peru is mindful of the need to deepen our efforts in the areas of 
decentralization, institutional strengthening and human capital in the public sector.  
5.24.   With respect to trade, we are continuing to t ake concrete measures to better integrate 
Peruvian businesses into global and regional value chains and to diversify our exportable supply in 
the direction of higher value -added goods and services. We will maintain as crosscutting objectives 
the strengthen ing of MSMEs and the sustainability of exportable supply. We will also continue with 
measures to facilitate trade and reduce logistical costs.  
5.25.   Economic and trade integration policy has been important in triggering structural reforms in 
Peru. We have seen e xamples of this in implementing the WTO agreements and Peru's preferential 
trade agreements. We believe that our approach to the OECD standards will help to consolidate 
policies and lead to new reforms conducive to the achievement of our development goals.  
5.26.   Lastly, Peru reiterates its commitment to the rules -based multilateral trading system and will 
continue to contribute actively and constructively to the strengthening of this Organization. Thank 
you. 
DISCUSSANT  
5.27.   I believe that you will agree with me that t he 5th Trade Policy Review (TPR) of Peru, which 
attracted more than 300 questions from 26 Members, has been a productive and fruitful exercise. 
The 5th TPR has allowed us to deepen our understanding of Peru 's trade and investment policies, as 
well as take stock of significant developments since the last review in 2013. This morning, I would 
like to share my observations of the 5th TPR by addressing three questions:  
• First, what are the areas in which Peru has done well?  
• Second, what are the areas in which Pe ru can do better?  
• Third, what can Peru do so that it is more prepared for the future?  
5.28.   First, what are the areas in which has Peru done well? There are many positives that Members 
have identified, including Peru 's success at drawing more foreign investment,  its efforts to grow its 
exports, and its good work on the "National Competitiveness and Productivity Plan ", which seeks to 
improve Peru 's business environment.  
5.29.   But two aspects, in particular, stood out. One is the consistency of Peru 's macroeconomic 
policy, which is anchored on free trade and an open economy. As noted by Vice Minister Bayona, 
"Peru has, starting 25 years ago, maintained a trade policy of openness and liberalisation, which 
seeks to foster economic growth and trigger Peru 's insertion into g lobal markets and value chains, 
with a view to increase welfare and development ". This consistency in approach is to be applauded.  
5.30.   Another is Peru 's commitment to strengthen its internal policy agenda to address income 
disparities, improve income distribut ion and ensure that the benefits of trade are spread more 
evenly. To this end, Peru has introduced programmes to support its MSMEs such as the National 
Strategic Export Plan 2015 -2025 (PENX 2025) and the MSME Fund. Peru has also started to diversify 
its ex port markets by stepping up its exports of non -traditional products, such as fresh produce and 
chemicals, and intensifying its trade promotion strategy through trade missions, business 
conferences and supporting the participation of Peruvian companies in i nternational fairs. 
Additionally, Peru has grown its services exports by 26% from 2013 to 2018 by introducing specific 
legislative changes, including the Law Promoting Service Exports and Tourism.  WT/TPR/M/393 • Peru  
 
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  5.31.   Turning to the second question, what are some of the areas  in which Peru can do better? 
Delegations have identified market access for agricultural products, infrastructure development, 
government procurement, and intellectual property (IP) rights, as some areas that deserve closer 
attention. For example, Members questioned the necessity of maintaining a price band system for 
the importation of certain agricultural commodities, especially given the growing competitiveness of 
the Peruvian agricultural sector. Customs policies and procedures could also be simplified further – 
for example, Peru maintains a selective consumption tax on alcoholic beverages, which can be 
viewed as discriminatory, since pisco, which we all love, continues to be excluded from the system 
of excise taxation.  
5.32.   Members have also encouraged Peru  to become an observer to the WTO 's Government 
Procurement Agreement, and to continue making progress in the area of IP protection. Some 
delegations have also encouraged Peru to continue improving the administrative and physical 
infrastructure which will f acilitate trade. This includes enhancing the technical expertise and 
transparency of government and regulatory bodies, cutting red tape, resolving bottlenecks that 
impede the flow of goods and services, and improving competitiveness. I am confident that Pe ru will 
take on board all these feedbacks  and, more importantly, take constructive actions to address these 
issues.  
5.33.   Third, what can Peru do so that it is more prepared for the future? In her opening statement 
on Tuesday, Vice Minister had emphasised that Peru will continue to tackle challenges in the areas 
of infrastructure and logistics, institutional reform, and sustainable development. This is a promising 
start as these are long -term challenges that require long -term planning and attenti on. Equally 
important, I would also encourage Peru to seriously consider how to position itself for the 
4th Industrial Revolution. Technological developments such as E -commerce, artificial intelligence (AI) 
and block chains will become the new key drivers for economic growth.  
5.34.   Hence, while it is important to maintain prudent macroeconomic policies and open trade, it is 
equally important for Peru to focus on innovation and building skilled human capital to ride the waves 
of the 4th industrial revolution. In this context, the CRECER Fund can be further strengthened as a 
platform to future -proof the Peruvian economy. I am also encouraged that Peru has taken steps to 
continue moving up the global value chain. Besides growing its services industries, Peru has pla ced 
particular emphasis on high value -added sectors, such as digital, software, mining and medical 
services. It is also heartening that Peru has co -sponsored the Joint Statement Initiative on 
E-Commerce and is participating actively in the negotiations.  
5.35.   Let me end by congratulating Peru for a successful 5th TPR, which has underlined the valuable 
role that Peru has played in supporting and strengthening the rules -based multilateral trading 
system. I wish Vice Minister Bayona and her colleagues a safe trip ho me. Thank you.  
ICELAND  
5.36.   Despite the geographical distance between Iceland and Peru, our two countries enjoy excellent 
bilateral trade relations. Peru and the EFTA countries, Iceland, Liechtenstein, Norway and 
Switzerland, signed a Free Trade Agreement in 2010. The Agreement is a solid base to increase 
trade and investment between our cou ntries. Trade between Iceland and Peru has grown after the 
entry into force of the Agreement notably with increased imports from Peru to Iceland mainly of food 
products .   
5.37.   Like Iceland, Peru is a major producer and exporter of fishery products. Iceland and  Peru 
share common interest in the elimination of harmful subsidies in the fisheries sector. Iceland 
congratulates Peru for its commitment and active work in the field of fisheries subsidies within the 
WTO.  
5.38.   Peru is amongst the WTO Members that have highlig hted the importance of gender and trade. 
At the 11th Ministerial Conference in Buenos Aires in 2017 , more than 120 WTO Members and 
observers launched a joint declaration on Women and Economic empowerment that aims at sharing 
best practices and working toge ther here at the WTO to remove barriers for women 's economic 
empowerment and increase their participation in trade. Peru is one of the signatories of the 
Declaration.  WT/TPR/M/393 • Peru  
 
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  5.39.   The trade policy review provides an excellent opportunity to share best practices in thi s field. 
Iceland submitted advance written questions on the participation of women in the economy of Peru. 
We look forward to reviewing the answers to our written questions. The answers are very useful as 
we implement the Joint Declaration on Trade and Wom en's Economic Empowerment and gather best 
practices.  
5.40.   Iceland appreciates Peru 's active engagement in the WTO and their continued support for the 
multilateral trading system. We wish the delegation of Peru every success in their fifth Trade Policy 
Review.  
EUROPEAN  UNION  
5.41.   The European Union would like to thank the delegation of Peru, notable Vice Minister Bayona, 
for the comprehensive presentation of the recent developments in Peru 's economic and trade policy 
made on the first day of the Review, as we ll as for the statement this morning addressing some of 
the issues raised by Members, including the EU. We also thank the discussant for his summarizing 
remarks today.  
5.42.   The discussions on Peru 's trade policy on Tuesday and today have enabled the EU and the 
WTO Membership to be updated on the latest developments in Peru 's trade policy and measures 
since its last Review, and contributed to enhanced understanding and increased transparency.  
5.43.   The EU very much welcomes Peru 's commitment to the WTO at this crucial time of reform, 
and appreciates Peru 's determination to undertake economic and institutional reform domestically.  
5.44.   The EU also appreciates that Peru adopted the alternative time -frame for this Review, that 
enabled us to review the timely replies to our ques tions before the meeting of last Tuesday.  
5.45.   As indicated already in our statement on the first day, we do seek today further clarification 
on the reply that Peru gave us regarding our question No. 10 on the discriminatory taxation 
treatment of alcoholic beve rages compared to the locally produced pisco. Despite the commitment, 
at the last TPR, to review the situation, Peru has not provided substantial reply to the EU concern, 
since it does not explain how the tax measures imported in Decreto Supremo of 9 May 2 018 that 
expressly exclude Peruvian pisco from the application is compatible with Article 3 of the GATT. 
Therefore, we have submitted one follow -up question this morning on this issue, and we look forward 
to the response in due time and hope that Peru will  actively review this situation without delay.  
5.46.   In conclusion, the EU thanks Peru for its constructive participation in this fifth review exercise, 
and we are certain to continue our strong and deep trade and investment relationship in the future.  
UNITED  STATES 
5.47.   We sincerely thank you, Vice Minister Bayona, and Ambassador Tan, for your thoughtful 
perspectives this morning and we would, of course, like to express our sincere appreciation to 
Ambassador Alfaro, the rest of the Peruvian delegation and the WTO Sec retariat for your diligent 
and constructive efforts in this fifth Trade Policy Review.  
5.48.   This process by its very nature can be a considerable amount of work but it also offers an 
opportunity for useful reflection. We greatly appreciate the summary of the discussion from Tuesday 
and the information that Peru has provided today in response to s ome of the issues raised by 
Members, such as the moratorium on genetically engineered organisms and TBT issues. We would 
study the points made by Peru carefully.  
5.49.   Additionally, consistent with many of the topics we highlighted in our opening statement on 
Tuesday, I do want to note that we have some additional questions which the United States 
submitted to the TPR Division yesterday. These include requests for information related to the 
adoption, plans for future adoption and implementation of a number of IP -related treaties; Peru 's 
framework for receiving, reviewing and registering geographical indications and appellations of 
origin; various issues concerning Peru 's enforcement of protections for industrial secrets; proprietary 
data; copyrights and trademarks , including administrative, criminal and civil penalties, as well as 
border measures; and finally Peru 's patent linkage system.  WT/TPR/M/393 • Peru  
 
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  5.50.   The United States is ready and willing to engage constructively on these matters, and we look 
forward to receiving Peru 's respon ses to these questions in due course.  
5.51.   The United States very much appreciates its strong relationship with Peru, particularly as a 
longstanding FTA partner. We commend Peru 's progress, and encourage it to continue its proactive 
efforts towards trade libera lization and further economic developments.  
5.52.   The United States looks forward to continuing its active cooperation with Peru as a friendly 
and energetic partner here in Geneva and elsewhere. Please accept our best regards and our wishes 
for safe travels to t hose returning to Capital.  
MRS  SAYURI  BAYONA  MATSURA  (HEAD  OF DELEGATION ) 
5.53.   In this last intervention I only wish to reiterate my thanks for the Members' interest and 
participation in this process. We have found the experience very enriching and welcome the 
opportunity to receive comments and suggestions from the Members.  
5.54.   We will soon be providing responses to the latest questions received and will of course remain 
open to discussion and cooperation with the Member countries. I again thank the Secretariat for its 
work throughout the year and also, of course, our discussant,  Ambassador Tan Hung Seng, and you, 
Mr Chairman, for your efficient leadership of these sessions. Many thanks to all.  
  WT/TPR/M/393 • Peru  
 
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  6  CONCLUDING REMARKS B Y THE CHAIRPERSON  
6.1.  This fifth Trade Policy Review has allowed us to considerably deepen our understanding of 
Peru's trade and investment policies, and , in particular , of the changes introduced since the last 
Review in 2013. I would like to thank the Peruvian delegation headed by Mrs. Sayuri Bayona, Vice 
Minister of Foreign Trade, and Ambassador S ilvia Alfaro for their positive and constructive 
engagement throughout this review process. I would also like to thank our discussant, Ambassador 
Tan Hung Seng, Permanent Representative of Singapore to the WTO, for his interesting and very 
insightful remar ks, as well as the 35 delegations which took the floor the first day and today, for 
their active participation.  
6.2.  Peru was widely praised for its commitment to trade liberalization and for achieving solid 
economic growth, with real GDP expanding at an annual  average rate of 4% between 2013 and 
2018, while maintaining a relatively low level of inflation and reducing poverty levels. These positive 
results have been underpinned by solid macroeconomic policies, including measures to ensure fiscal 
sustainability. Members also commended Peru for maintaining an economic strategy that included 
unilateral reductions in import tariffs, the promotion and diversification of exports, and measures to 
enhance productivity and competitiveness. In particular, Members applauded  Peru's firm 
commitment to open markets, amidst growing external challenges.  
6.3.  Members welcomed Peru 's efforts to improve governance and to tackle tax non -compliance. 
While commending Peru for these achievements, Members also noted that challenges remained i n 
some areas, including the need to further alleviate poverty and promote social inclusion, particularly 
in rural areas, to enhance investment in infrastructure and to pursue further structural reforms.  
6.4.  Members commended Peru 's strong commitment to the mu ltilateral trading system and its 
active participation in the WTO. They also noted Peru 's support for MC11 initiatives, such as those 
on e-commerce, MSMEs and women 's economic empowerment. Peru was also commended for its 
support for agricultural reform and  for a successful agreement on fisheries subsidies ' negotiations. 
Members welcomed Peru 's ratification of the Trade Facilitation Agreement and its good notifications 
record. Some Members encouraged Peru to join the Expansion of the Information Technology 
Agreement.  
6.5.  It was acknowledged that during the review period, Peru had actively pursued the conclusion 
of free trade agreements, and that five such agreements had been signed, including the Pacific 
Alliance, and the Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP), 
and other bilateral agreements with key trading partners.  
6.6.  Members expressed their appreciation for Peru 's open investment regime and for the measures 
adopted to foster private investment, which have resulted in a sign ificant increase in the country 's 
FDI stock. Interest was also expressed with respect to the incentives provided to MSMEs. In addition, 
Members were appreciative of the National Strategic Export Plan 2015 -2025 (PENX 2025), which 
seeks the internationalizat ion of Peruvian enterprises, the increase in exports of value -added goods 
and services, and the enhancement of the competitiveness of the export sector. Members 
acknowledged that since the last Review, Peru had adopted several measures geared at facilitati ng 
trade. These included the strengthening of the Single Window for Foreign Trade, measures to 
improve foreign trade logistics, the simplification of administrative formalities, and the establishment 
of a National Trade Facilitation Committee.   
6.7.  Peru was p raised for its unilateral import tariff reductions, which had led to an average MFN 
tariff of just 2.2% in 2019, considered as one of the lowest among WTO Members. Members also 
noted the decrease in the use of trade remedies, in particular the lower number  of antidumping 
investigations initiated during the review period. Members also referred to trade policy areas where 
they thought further improvements would be welcome. These areas include: different taxation rules 
on domestic alcoholic beverages (pisco); labelling requirements regarding food packages; GMOs 
moratorium, and certification of imports of processed food of animal origin. Members also raised 
questions regarding Peru 's standardization and accreditation policies. Some Members expressed 
concerns wit h respect to the application and effect of the Price Band System for certain agricultural 
products, especially regarding rice.  WT/TPR/M/393 • Peru  
 
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  6.8.  Members acknowledged the changes introduced by Peru to improve the efficiency of its 
government procurement regime and adapt it t o best international practices, including OECD 
recommendations. Some Members invited Peru to consider becoming a member of the GPA. Peru 
was also commended for improvements in enforcement of intellectual property rights since the last 
Review and for the in troduction of a National Intellectual Property Plan. Members raised questions 
regarding the protection of geographical indications; damages for copyright infringement; 
enforcement and judicial remedies, among other issues.  
6.9.  The importance of the mining sect or for Peru 's economy was highlighted, as more than 60% of 
exports are mineral products. Some Members were appreciative of the sector 's openness to foreign 
investment but cautioned against the effects of fluctuating international prices and hence welcomed 
Peru's current efforts to diversify exports.   
6.10.   Members commended Peru for maintaining an open services regime. In particular, they noted 
the introduction of measures to foster the development and competition in the telecommunications 
sector. Acknowledging the improvements made with respect to financial intermediation, Members 
noted that more needs to be done to enhance financial inclusion. In their written submissions, 
Members raised questions regarding recent changes to lift restrictions in maritime cabota ge and 
developments in civil aviation.  
6.11.   In her interventions, the Representative of Peru provided detailed explanations regarding the 
different components of Peru 's economic and trade strategies, including the measures taken under 
the PENX 2025, measures to  promote competitiveness and productivity, simplification of sanitary 
requirements, and actions to foster the participation of MSMEs in international markets. She 
highlighted that Peru 's open policies had been instrumental in promoting growth and reducing 
poverty and affirmed that Peru was committed to face the remaining challenges regarding 
infrastructure, institutional reform, sustainable development and social inclusion. She emphasized 
the core role the WTO played in Peru 's trade policy and inte rnational trade negotiations, as well as 
the contribution of the Organization to the stability and predictability of the multilateral trading 
system.  
6.12.   Peru has provided answers to almost all 380 advance written questions raised by Members, 
and as we heard today from the Vice -Minister, Peru is open to continuing to dialogue with its trading 
partners on issues of concern. This TPR will be successfully concluded once Peru has replied to all 
outstanding questions that were posed during the meeting in a month 's time. I believe Members felt 
heartened by the good results achieved by Peru during the review period and encouraged it to 
persevere in that path and address the remaining challenges. I hope that the discussion held during 
this Review will prove useful to P eru in the continued implementation of economic and trade reforms 
and in its pursuit of policies to achieve sustainable growth and increase productivity and 
competitiveness.  
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