RESTRICTEDWORLD TRADE
ORGANIZATIONTN/S/O/PER
12 September 2003
(03-4762)
Council for Trade in Services
Special Session
PERU
Initial Offer
The following initial offer was received from the Delegation of Peru on 27 August 2003 with
the request that it be circulated to Members of the Council for Trade in Services.
_______________
This initial offer is not a legal text and is s ubmitted solely for the purpose of negotiation in the
context of paragraphs 47 and 49 of the Doha Minister ial Declaration, especially in the light of the need
to achieve an overall balance in the outcome of all World Trade Organization (WTO) negotiations.
This initial offer is therefore conditional upon such a balance, for which reason Peru reserves the right
to modify and/or withdraw its offer during the course of the negotiations.
With regard to issues relating to domestic  regulation and GATS (General Agreement on
Trade in Services) rules, Peru prioritizes the negotiation of horizontal disciplines in the framework of
paragraph 7 of the Guidelines and Procedures for the Negotiations on Trade in Services (document
S/L/93).
In view of the various proposals tabled on the issue of classification in a number of
subsectors, Peru reserves the right to modify this initial offer during the course of the negotiations.TN/S/O/PER
Page 3PERU – INITIAL OFFER OF SPECIFIC COMMITMENTS
Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
I. HORIZONTAL COMMITMENTS
ALL SECTORS INCLUDED IN
THIS SCHEDULE
(3) and (4)  Unbound, except:        In the case of natural persons providing
services and employed by service-providingcompanies in the sectors and subsectorsincluded in this Schedule who are nationals ofcountries members of the General Agreement
on Trade in Services (GATS), Peru permits
entry for a period of not more than three years,which may be extended for successive periodsof not more than three years.  Such personsmay not comprise more than 20 per cent of thetotal staff employed by the enterprise and their
remuneration may not exceed 30 per cent of the
total payroll.  These percentages do not apply inthe following cases:
- If the foreign services supplier is the spouse,
parent, child or sibling of a Peruvian citizen;TN/S/O/PER
Page 4Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- In the case of personnel of foreign enterprises
providing international land, air or watertransport under a foreign flag and foreignregistration;
- In the case of foreign personnel working in
multinational service enterprises or
multinational banks subject to the legalregulations applicable to these specific cases;
- In the case of foreign investors who hold a
minimum of five Peruvian tax units (Unidades
Impositivas Tributarias) throughout the term oftheir contract;
- In the case of artists, sportsmen or
sportswomen or other suppliers of services
taking part in public performances in Peru for a
maximum of three months each year.
Employers may request exemption from thepercentages concerning the number of foreignworkers and their proportion in relation to the
enterprise's payroll for specialized professional
or technical personnel in the following cases:
        Managerial and/or administrative personnel
involved in new business activities orreconversion, specialized personnel recruited
for teaching purposes, personnel of public or
private enterprises with a State contract, and inany other case provided for by a SupremeDecree as a result of special expertise.TN/S/O/PER
Page 5Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
Legislative Decree No. 662, Law on the
Promotion of Foreign Investment, provides that
Foreign investors and the enterprises in which
they participate have the same rights and
obligations as domestic investors and
enterprises, the only exceptions being those laiddown in Peru's Political Constitution. and in the
aforementioned Legislative Decree.
Foreign investment must be registered with the
competent national authority .  In connection
with property, Peru's Political Constitution
provides that  within 50 km. of the frontier
foreigners may not under any circumstancesdirectly or indirectly purchase or own mines,land, woodland, water resources, fuel or energysources, whether individually or as a company,
on penalty of transfer of the rights thus acquired
to the State.
        In addition, Legislative Decree No. 757,
Framework Law for the Promotion of Private
Investment, specifies the rights, guarantees and
obligations applicable to all domestic or
foreign natural or legal persons owning
investments in Peru in order to ensure freedom
of initiative and existing or future private
investment in all sectors included in this
Schedule and in all forms of enterprises or
contracts permitted by the Constitution and
legislation.TN/S/O/PER
Page 6Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
II. SECTOR-SPECIFIC COMMITMENTS
1. BUSINESS SERVICES
A. Professional services
(b) Accounting, auditing and
book-keeping services,solely:(1) Unbound
(2) Unbound(1) Unbound
(2) Unbound
- Financial auditing
services(CPC 86211)
- Accounting review
services
(CPC 86212)(3)None  In order to be able to provide
accounting, auditing and book-keeping
services, foreign professionals must have their
professional qualifications officially
recognized.  They must also join the relevant
professional association in accordance with
Article 5 of Law No. 13253 of 11 September
1959.  Accounting, auditing and book-keeping
services are governed by all provisions of the
College of Public Accountants. SBS (Banking
and Insurance Supervision Department)
Resolution No. 119-92 on the registration of
companies for external auditing also applies.  (3) None
- Compilation of
financial statementsservices(CPC 86213)
- Book-keeping services,
except tax returns(CPC 86220)(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 7Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(d) Architectural services,
(CCP8671)
solely
 other than :
-Other architectural
services
(CPC 86719)
- Advisory and pre-
design architectural
services
(CPC 86711)
- Contract
administrations
services
(CPC 86713)TN/S/O/PER
Page 8Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
-Combined architectural
design and contract
administration services
(CPC 86714)
(e) Engineering services
(CPC 8672) ,
solely   other than :
-Other engineering
services
(CPC 86729)(1) Unbound
(2) Unbound
(3)None   In order to be able to provide
architectural and engineering services, foreign
professionals must have their professional
qualifications officially recognized.  This
requirement may be waived in the case of
reciprocal conventions.  They must also join the
relevant professional association in accordance
with Article I of Law  No. 24648 of 23 January
1987, which may be done on a temporary basis.
There may be a difference in the amount of the
enrolment dues for Peruvians and foreigners.(1) Unbound
(2) Unbound
(3) None, except that there may be a difference in
the amount of the enrolment fees for Peruvians
and for foreigners.
- Advisory and
consultative
engineering services
(CPC 86721)
- Engineering design
services for the
construction of
foundations and
building structures
(CPC 86722)(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.
- Engineering design
services for mechanical
and electrical
installations for
buildings
(CPC 86723)TN/S/O/PER
Page 9Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Engineering design services
for the construction of
civil engineering works
(CPC 86724)TN/S/O/PER
Page 10Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Engineering design
services for industrial
processes and
production
(CPC 86725)
- Engineering design
services n.e.c.
(CPC 86726)
- Other engineering
services during the
construction and
installation phase
(CPC 86727)
(k) Other, solely:
- Management consulting
services for advice,guidanceandoperationalassistance related to
tourism development
(CPC 86509)(1) None
(2) None(3) None(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 11Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
E. Rental/leasing services
without operators
(c) Rental/leasing services
relating to other transportequipment without
operators, solely:(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.
- Leasing or rental
services concerning
private cars without
operator, without
purchase option
(CPC 83101)
F. Other business services
(a) Advertising services
solely:(1) Unbound
(2) Unbound(1) Unbound
(2) Unbound
- Sale or leasing services
of advertising space ortime
(CPC 87110)TN/S/O/PER
Page 12Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Planning, creating and
placement services ofadvertising(CPC 87120)(3)None  Commercial advertising produced or
created outside Peru and transmitted by any
communication media in the country must pay
the appropriate duties.  For the purposes of
assessing and applying the tariffs, such
advertising will be treated as cinematographic
films for showing in Peru, as appropriate.
Communication media transmitting commercial
advertising produced or created outside Peru
shall require guarantees of payment of the
appropriate duties.
(4) Unbound, except as indicated in the horizontal
section.(3) None
(4) Unbound, except as indicated in the horizontal
section.
(s) Convention services
(CPC 87909*)(1) Unbound
(2) Unbound(3) None(4) None(1) Unbound
(2) Unbound(3) None(4) NoneTN/S/O/PER
Page 13Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
2. COMMUNICATIONS 
SERVICES
C. Telecommunications
services
(a) Voice telephone services (1) Fixed telephone services will be under a regime
of exclusivity until June 1999.(1) None See attached sheet.
None, except that the supply of telephone
services based on call attempts made within thecountry in order to obtain a call-back with a dial
tone from networks stemming from a basic
telecommunications network located outside thenational territory is not permitted.
Interconnection among private services isprohibited.
(2) None, except that the supply of telephone
services based on call attempts made within the
country in order to obtain a call-back with a dialtone from networks stemming from a basictelecommunications network located outside thenational territory is not permitted.(2) None
(3) Fixed telephone services will be under a regime
of exclusivity until June 1999.(3) None
The number of concessionaires of a particular
service may be restricted for technical reasons.
In such cases, concessions must be granted
through public invitation to tender.
Interconnection among private services is
prohibited.TN/S/O/PER
Page 14Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(4) None, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.
(b) Packet-switched data
transmission services
(c) Circuit-switched data
transmission services
(d) Telex services(1) None for the provision of the service in local
concession areas.
Supply of the service for national and
international long-distance communications
must use the carrier services granted in
exclusivity until June 1999 inclusive.(1) None See attached sheet.
(e) Telegraph services
(f) Facsimile services
(g) Private leased circuit
services
(o) OtherPrivate leased long-distance circuit service
are considered a form of operation of carrier
services.
Until June 1999, persons who establish or have
established a private service are not authorized:
- Analogue/digital
mobile/cellular services
-P e r s o n a l
communicationservices(i) to use lines or circuits for the supply of
telecommunications services, including
signal transport and the resale of capacity
to third persons; or
- Paging services
- Mobile data services
- Trunking services(ii) to interconnect leased lines or circuits to
the public telecommunications network.
Interconnection among private services is
prohibited.
(2) None (2) None
(3) None for the provision of the service in local
concession areas.(3) NoneTN/S/O/PER
Page 15Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
The provision of the service for national and
international long-distance communications
must use the carrier services granted in
exclusivity until June 1999.
The number of concessionaires of a particular
service may be limited for technical reasons . In
such cases, concessions must be granted
through public invitation to tender.
Until June 1999, persons who establish or have
established a private service are not authorized:
(i) to use lines or circuits for the supply of
telecommunications services, including
signal transport and the resale of capacity
to third persons; or
(ii)   to interconnect lease d lines or circuits to
the public telecommunications network.
Interconnection among private services is
prohibited.
(4) None, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
sectionTN/S/O/PER
Page 16Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Electronic message and
information services(CPC 75232)(1) The limits indicated in 3) below.
(2) Unbound(1) None
(2) Unbound
Only includes:
- Facsimile: fax storage
and retransmission
- Videotext- Teletext- Teletex- Teleaction
- Remote control
- Telealarm- Data storage and
retrieval
- Teleprocessing and data
processing
- Interpersonal
messaging
- Voice messaging-A d v i c e  s e r v i c e- Packet-switched data
service(3)The installation and operation of a private
network, in such cases as is strictly necessary
and only as a complement to the public network
which it uses for its basic support for the
exclusive supply of value-added services,
requires special prior authorization, equivalent
to that for a private radio communication
service, to be granted by the competent
national authority.  Such   Authorization shall
not be granted if, in the place where the privatenetwork is to be installed, there are publiccarrier services or teleservices which can meetthe requirements of supplying the value-added
services.  The definition of value added
telecommunication services included in this
Schedule can be found in Article 102 of D.S.
No. 06 94 TCC.   The competent national
authority is authorized to suspend the supply ofvalue-added services when the operation
interferes with the telecommunication network.(3) NoneTN/S/O/PER
Page 17Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
Natural and legal persons who wish to supply
value added services must be entered in the
Register of Suppliers of Value Added Services
prior to commencing.
(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section
.
4.DISTRIBUTION
SERVICES
B.Wholesale trade services
(CPC 622) ,
        solely   other than :
- Wholesale trade
services of waste andscrap and materialsfor recycling
(CPC 62278)(1) Unbound
(2) Unbound
(3) None
(4) Unbound, except as indicated in the horizontal
section(1) Unbound
(2) Unbound
(3) None
(4) Unbound, except as indicated in the horizontal
section
- Wholesale trade
services of grain,
oilseeds and oleaginous
fruits, seeds and animal
feed
(CPC 62211)
- Wholesale trade
services of flowers and
plants
(CPC 62212)
- Wholesale trade
services of
unmanufactured
tobacco
(CPC 62213)TN/S/O/PER
Page 18Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of live animals
(CPC 62214)
- Wholesale trade
services of hides and
skins and of leather
(CPC 62215)
- Wholesale trade
services of agricultural
raw materials
(CPC 62219)TN/S/O/PER
Page 19Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of fruit and
vegetables
(CPC 62221)
- Wholesale trade
services of dairy
products, eggs and
edible oils and fats
(CPC 62222)
- Wholesale trade
services of meat,
poultry and game
(CPC 62223)
- Wholesale trade
services of fishery
products
(CPC 62224)
- Wholesale trade
services of sugar, sugar
and flour confectionery
and bakery products
(CPC 62225)TN/S/O/PER
Page 20Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of beverages
(CPC 62226)
- Wholesale trade
services of coffee, tea,
cocoa and spices
(CPC 62227)
- Wholesale trade
services of tobacco
products
(CPC 62228)
- Wholesale trade
services of food
products
(CPC 62229)TN/S/O/PER
Page 21Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of textiles
(CPC 62231)
- Wholesale trade
services of household
linens
(CPC 62232)
- Wholesale trade
services of articles of
clothing
(CPC 62233)
- Wholesale trade
services of fur articles
(CPC 62234)
- Wholesale trade
services of footwear
(CPC 62235)
- Wholesale trade
services of clothing
accessories
(CPC 62236)
- Wholesale trade
services of household
furniture
(CPC 62241)TN/S/O/PER
Page 22Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of household
appliances
(CPC 62242)
- Wholesale trade
services of cutlery,
domestic metalware and
lighting articles and
equipment
(CPC 62243)
- Wholesale trade
services of radio and
television equipment,
musical instruments and
records, music scores
and tapes
(CPC 62244)
- Wholesale trade
services of glassware,
china and pottery
(CPC 62245)TN/S/O/PER
Page 23Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of wickerwork,
cork goods, cooper's
ware and other wooden
ware
(CPC 62246)
- Wholesale trade
services of wallpaper
and floor coverings
(CPC 62247)
- Wholesale trade
services of household
appliances, articles and
equipment
(CPC 62249)
- Wholesale trade
services of
pharmaceutical and
medical goods
(CPC 62251)TN/S/O/PER
Page 24Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of surgical and
orthopaedic instruments
and devices
(CPC 62252)
- Wholesale trade
services of perfumery,
cosmetics and soaps
(CPC 62253)
- Wholesale trade
services of paper and
paper board
(CPC 62261)
- Wholesale trade
services of books,
magazines, newspapers
and stationery
(CPC 62262)
- Wholesale trade
services of
photographic and
optical goods
(CPC 62263)
- Wholesale trade
services of games and
toys
(CPC 62264)TN/S/O/PER
Page 25Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of watches,
clocks and jewellery
(CPC 62265)
- Wholesale trade
services of sports goods
(including bicycles)
(CPC 62266)
- Wholesale trade
services of leather
goods and travel
accessories
(CPC 62267)
- Wholesale trade
services of cleaning
materials
(CPC 62268)
- Wholesale trade
services of
miscellaneous
consumer goods
(CPC 62269)
- Wholesale trade
services of solid, liquid
and gaseous fuels and
related products
(CPC 62271)TN/S/O/PER
Page 26Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of metal ores
and metal in primary
forms
(CPC 62272)
- Wholesale trade
services of wood in the
rough and products of
primary processing of
wood
(CPC 62273)
- Wholesale trade
services of paints,
varnishes and lacquers
(CPC 62274)
- Wholesale trade
services of construction
materials, fittings and
fixtures and flat glass
(CPC 62275)
- Wholesale trade
services of basic
industrial chemicals,
fertilizers, synthetic
resins and plastic
materials in primary
forms
(CPC 62276)TN/S/O/PER
Page 27Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Wholesale trade
services of textile fibres
(CPC 62277)
- Wholesale trade
services of intermediate
products, other than
agricultural
(CPC 62279)
C. Retail trade services
         solely:
- Food retailing services
(CPC 631)(1) Unbound
(2) Unbound
(3) None
(4) Unbound, except as indicated in the horizontal
section(1) Unbound
(2) Unbound
(3) None
(4) Unbound, except as indicated in the horizontal
section
- Retail sales of fruit and
vegetables
(CPC 63101)
- Retail sales of dairy
products and eggs
(CPC 63102)
- Retail sales of meat
(including poultry) and
meat products
(CPC 63103)
- Retail sales of fish and
other seafoods
(CPC 63104)TN/S/O/PER
Page 28Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Retail sales of bread
and flour confectionery
(CPC 63105)
- Retail sales of sugar
confectionery
(CPC 63106)
- Retail sales of
beverages not
consumed on the spot
(CPC 63107)
- Retail sales of tobacco
products
 (CPC 63108)TN/S/O/PER
Page 29Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Specialized retail sales
of food products
(CPC 63109)
I. SPECIFIC COMMITMENTS IN FINANCIAL SERVICES
The commitments undertaken with respect to  mode of supply 1 refer solely and exclusiv ely to the ability of a non-resident suppl ier of financial services to provide the
service in the territory of Peru.
The commitments undertaken with respect to mode of supply 2 refer solely and exclusively to the ability of a resident consumer to buy the service in the territory of
another Member .
The commitments undertaken with respect to modes 1 and 2 in this Schedule do not imply a commitment to allow a non-resident ser vices supplier to acquire clients or
engage in active marketing in Peru.
7. FINANCIAL SERVICES
The subsectors listed below
are defined pursuant to the
relevant Peruvianlegislation. In accordancewith the Annex on
Financial Services, the
financial system isunderstood as comprisingenterprises providing
insurance and insurance-
related services, andbanking and other financialservices (excluding
insurance).In addition to the limitations established with
respect to horizontal commitments, which cover
all services, authorization from the Banking
and Insurance Supervision Department ( SBS) is
required  to provide financial services.
Financial institutions must be set up in the
form of a public limited company (sociedadanónima).
An enterprise in the financial system cannot be
a shareholder of another enterprise of the samenature. The term "enterprise of the samenature" does not include other kinds of
enterprise belonging to the financial system
that are different in nature from the enterpriseconcerned. This does not apply if shares arepurchased with a view to taking over and
merging with the enterprise that issued the
shares in question.
Persons who are directly or indirectly majorityForeign capital is treated in the same way as
domestic capital and is subject, where
appropriate, to international agreements in this
field.   Exceptionally, for reasons of national or
public interest, if a Member adopts protectionist
or discriminatory measures, Peru reserves the
right to do likewise.
Foreign institutions may not make claims
through diplomatic channels in respect of
business or operations which they carry out inPeru on the basis of rights derived from theirnationality.
Peruvian creditors and foreigners domiciled in
Peru have priority rights over the assets ofbranches of foreign banks.TN/S/O/PER
Page 30Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
shareholders of an enterprise belonging to the
financial system may not hold, either directly orindirectly, more than five per cent of the sharesin another enterprise of the same nature.TN/S/O/PER
Page 31Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
The transfer of shares in an enterprise
belonging to the financial system representing
more than ten per cent of the enterprise's
capital to a single person, either directly or
through third parties, requires prior
authorization from the SBS.
Foreign financial institutions may carry out
promotional activities in Peru through a
representative in the country without having to
set up a public limited company, provided thatthey have been so authorized by the SBS.Representatives may not engage in the actual
business operations of the enterprise they
represent.
The opening of branches or agencies requires
prior authorization from the SBS.TN/S/O/PER
Page 32Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
A. All insurance and
insurance-related services
(a) Life insurance services,
exclusively
(b) Non-life insurance
services:
- Accident and health
insurance services
- motor-vehicle
insurance services
- freight insurance
services
- fire and other property
damage insurance
services
- pecuniary loss
insurance services(1) Unbound
(2) Unbound(3) Insurance companies operating in the life-
insurance branch may establish subsidiariesoperating in general insurance branches.  Total
investment in subsidiaries may not exceed
45 per cent of the net worth of the investingenterprise, except in the case of subsidiaries ofgeneral insurance companies that are
dedicated to life insurance.
(4) Unbound, except as indicated in the horizontal
section.
(1) Unbound
(2) Unbound
(3) None(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.
(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 33Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- general liability
insurance services
- marine, aviation and
other transport
insurance services(1) Unbound
(2) None
(3) None(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) None
(3) None(4) Unbound, except as indicated in the horizontal
section.
(c) Reinsurance and
retrocession, exclusively:
- Reinsurance services (1) Unbound
(2)None  Insurance companies may contract for
reinsurance abroad, provided that the
reinsurance companies are classified under
international standards, subject to the rules
established by the SBS. If insurance companies
contract for reinsurance directly, they must do
so with enterprises in the SBS reinsurance
register.
(3) None
(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) None
(3) None
(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 34Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(d) Services auxiliary to
insurance:
- Insurance broking and
agency services
- insurance consultancy
services
- average and loss
adjustment services
- inspection services(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.
B. Banking and other financial
services             (excluding
insurance)
(a) Acceptance of deposits and
other repayable funds fromthe public(1) Unbound
(2) Unbound(3) None, except that enterprises of the financial
system may not accept deposits on behalf of
financial institutions which are not authorized
to operate in the national territory.
(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 35Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(b) Lending of all types,
including, inter alia ,
consumer credit, mortgage
credit, factoring and
financing of commercialtransactions(1) Unbound
(2) Unbound(3) None(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None(4) Unbound, except as indicated in the horizontal
section.
(c) Financial leasing with
purchase option
(d) All payment and money
transmission services,including credit, payment
and similar cards,
travellers' cheques andbank giro services
(e) Guarantees and 
commitments
(f) Trading for own account or
for account of customers,
whether on an exchange, in
an over-the-counter marketor otherwise, the following:
-M o n e y  m a r k e t
instruments (cheques,bills, certificates of
deposit, etc.)TN/S/O/PER
Page 36Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- foreign exchange
- derivative products
including, but not
limited to, futures andoptions
- exchange rate and
interest rate
instruments, including
products such asswaps, forward rateagreements, etc.
- transferable securities
- other negotiable
instruments and
financial assets,including bullion
(g) Participation in issues of all
kinds of securities,
including underwritingand placement as agent(whether publicly or
privately) and provision of
services related to suchissues
(h) Money broking
(i) Asset management, such as
cash or portfoliomanagement, all forms of
collective investment
management, pensionfund management,custodial depository and
trust servicesTN/S/O/PER
Page 37Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(j) Settlement and clearing
services for financialassets, including securities,
derivative products and
other negotiableinstruments
(k) Advisory and other
auxiliary financial services
on all the activities listed inthis Schedule, includingcredit reference and
analysis, investment and
portfolio research andadvice, advice onacquisitions and on
corporate restructuring and
strategy
(l) Provision and transfer of
financial information, and
financial data processingand related software byproviders of other financial
services(1) Unbound, except with respect to information
required by financial institutions for their
duly authorized activities, without violatingbanking secrecy.
(2) Unbound(3) None
(4) Unbound(1) Unbound, except with respect to information
required by financial institutions for their duly
authorized activities, without violating bankingsecrecy.
(2) Unbound(3) None
(4) Unbound
9. TOURISM AND
TRAVEL-RELATEDSERVICES
A. Hotels and restaurants
- Hotel and other lodging
services
(CPC 641) solely:TN/S/O/PER
Page 38Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Hotel lodging services
(CPC 64110)
- Motel lodging services
(CPC 64120)
- Children's holiday
camp services
(CPC 64191)
- Holiday centre and
holiday home services
(CPC 64192)TN/S/O/PER
Page 39Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Letting services of
furnished
accommodation
(CPC 64193)
-Y o u t h  h o s t e l  a n d
mountain shelter
services
 (CPC 64194)
- Camping and
caravanning site
services
(CPC 64195)
Food serving services
(CPC 642)
- Meal serving services
with full restaurant
service
(CPC 64210)
- Meal servicing services
in self-service facilities
(CPC 64220)
- Caterer services,
providing meals to
outside
(CPC 64230)TN/S/O/PER
Page 40Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(1) Unbound
(2) Unbound(3)Supreme Decree No. 006-73-IC/DS lays down
the requirements for the classification of
lodging establishments in Peru in the 5-, 4-, 3-,
2- and 1-star categories. Likewise, any service
supplier intending to operate a lodging
establishment must request an operating licence
from the Directorate-General of Tourism,
together with the licence provided for in the
Special Police Licence Regulations.   Only five-
and four-star lodging establishments mayestablish gaming casinos on their premises.(1) Unbound
(2) Unbound(3) None
Supreme Decree No. 021-93-ITINCI of 15
September 1993 regulates restaurant services
in Peru, including their classification as
establishments in the first category (5 and 4
forks), second category (3 and 2 forks) or third
category (1 fork).   Gaming casinos may only be
established in five-fork tourist restaurants andbuildings declared historic monuments, subjectto authorization from the National Institute of
Culture.
Likewise, any supplier of services intending to
operate a lodging and/or restaurant
establishment must apply for entry in the
Unified Register provided for in Supreme
Decree No. 118-90-PDM.
(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.TN/S/O/PER
Page 41Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
B. Travel agency and tour
operator services, solely:
-Travel agency services
(CPC 74710)(1) Unbound
(2) Unbound(1) Unbound
(2) Unbound
- Travel agency  and tour
operator services(CPC 74710)(3)None   In conformity with Supreme Decree No.
021-92-ICTI, travel and tourist agencies may
operate as wholesalers, retailers or both.
Wholesalers are agencies which provide tourist
services and packages to retail agencies, but
which cannot offer their products directly to the
user. Retailers are agencies which may market
products directly to the user or consumer, but
may not offer their products to other agencies.
It is possible for an enterprise to carry out both
types of activity.(3) None
In order to commence their activities, travel
and tourist agencies must be entered in the
Unified Register and submit a joint and several,
irrevocable and unconditional bond, which is
automatically convertible and of unlimited
validity, issued by a financial and/or insurance
company in favour of and to the satisfaction of
the Ministry of Industry, Tourism, Integration
and International Trade Negotiations. The bond
shall be in an amount equivalent to 20 tax units
(Unidades Impositivas Tributarias) in the case
of wholesalers, 10 tax units in the case of
retailers and 25 tax units in the case of
enterprises which engage in both types of
activity simultaneously.TN/S/O/PER
Page 42Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.
10. RECREATIONAL,
CULTURAL ANDSPORTING SERVICES
A. Entertainment services
solely:
- Theatrical producer,
singer group, band and
orchestra entertainment
services(CPC 96191)
- Services provided by
authors, composers,
sculptors, entertainers
and other individualartists(CPC 96192)
- Ancillary theatrical
services n.e.c.
(CPC 96193)
- Circus, amusement
park and similar
attraction services
(CPC 96194)TN/S/O/PER
Page 43Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Ballroom, discotheque
and dance instructorservices(CPC 96195)(1) Unbound*
(2) Unbound(3)In the case of live entertainment, the relevant
legislation is Decree Law No. 19479 and
Supreme Decree No. 13-87-ED .  None, except
that the proportion of Peruvian performers in
any artistic production or entertainment held ina public place in Peru shall not be less than80 per cent of the total.  The remaining20 per cent may consist of foreign artists
provided that they have a contract concluded
prior to their entry in the country, an artist's visaand the corresponding inter-union permit.These percentages do not apply in the case ofperformances given by foreign casts hired assuch outside Peru and whose performance
constitutes the entire work or entertainment.
The relevant provisions of the National
Cultural Institute also apply.
(4) The same limitations as in (3) above.(1) Unbound*
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.
D. Sporting and other
recreational services, solely:
- Sports event promotion
services
 (CPC 96411)TN/S/O/PER
Page 44Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
- Sports event
organization services
 (CPC 96412)
- Sports facility operation
services
(CPC 96413)
- Gambling and betting
services(CPC 96492)(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section.(1) Unbound
(2) Unbound(3) None
(4) Unbound, except as indicated in the horizontal
section
II.  TRANSPORT SERVICES
A. Maritime transport services,
solely:
- Passenger
transportation by ferriesexclusively fordomestic tourism
services
(CPC 72111)
-O t h e r  p a s s e n g e r
transportation
exclusively for
domestic tourismservices(CPC 72119)TN/S/O/PER
Page 45Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
B. Internal waterways
transport, solely:
- Passenger
transportation by ferriesexclusively for
domestic tourism
services(CPC 72211)
-O t h e r  p a s s e n g e r
transportation
exclusively fordomestic tourismservices(CPC 72219)
(1) The same limitations as in 3) below. (1) Unbound
(2) Unbound (2) UnboundTN/S/O/PER
Page 46Modes of supply (1)  Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons
Sector or subsector Limitations on market access Limit ations on national treatm ent Additional commitments
(3)None   Pursuant to Supreme Resolution No.
0011-78 TC/DS of 6 February 1978, all legal
persons constituted for the purpose of operating
tourist transport services must request prior
authorization for the constitution of the
company from the Directorate General for
Tourism or Regional Directorate of the
Ministry of Industry and Tourism.  These bodies
may either approve or reject the application.
In addition, companies the constitution of which
has been authorized must request an operating
licence from the respective Directorate-General
of the Ministry of Transport and
Communications, in the case of enterprises
engaged in activities within the national
territory or abroad, or from the appropriate
Regional Directorate of the Ministry of
Transport and Communications, in the case of
enterprises engaged in local or regional
activities.(3) None
Tourist transport enterprises may provide the
following types of service: transfers, local visits,
excursions, round trips, tours and rental of vehicles
without operators.
(4) Unbound, except as indicated in the horizontal
section.(4) Unbound, except as indicated in the horizontal
section.
_______________TN/S/O/PER
Page 47
ANNEX
REFERENCE PAPER
Scope
The following are definitions and principles re lating to the regulatory framework for basic
telecommunications services.
Definitions
Users mean service consumers and service suppliers.
Essential facilities mean facilities of a public tel ecommunications transport network or service that:
(a) Are exclusively or predominantly provided by a single or limited number of suppliers;
and
(b) cannot feasibly be economically or technica lly substituted in order to provide a service.
A major supplier is a supplier which has the ability to materially affect the terms of participation (having
regard to price and supply) in the relevant market for basic telecommunications services as a result of:
(a) Control over essential facilities;  or
(b) use of its position in the market.
1. Competitive safeguards
1.1 Prevention of anti-competitive practices in telecommunications
Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone or
together, are a major supplier from engaging in or continuing anti-competitive practices.
1.2 Safeguards
The anti-competitive practices referred to above shall include in particular:
(a) Engaging in anti-competitive cross-subsidization;
(b) using information obtained from compe titors with anti-competitive results;  and
(c) not making available to other services suppliers on a timely basis technical  information
about essential facilities and commercially relevant information which is necessary forthem to provide services.TN/S/O/PER
Page 48
2. Interconnection
2.1 This section applies to linking with supplie rs providing public telecommunications transport
networks or services in order to allow the users of one supplier to communicate with users of another
supplier and to access services provided by a nother supplier, where specific commitments are
undertaken.
2.2 Interconnection to be ensured
Interconnection with a major supplier shall be ensu red at any technically feasible point in the
network.  Such interconnection shall be provided:
(a) Under non-discriminatory terms, conditi ons (including technical standards and
specifications) and rates and of a quality no le ss favourable than that provided for its
own like services or for like services of non-affiliated service suppliers or for itssubsidiaries or other affiliates;
(b) in a timely fashion, on terms, conditions  (including technical standards and
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard to
economic feasibility, and sufficiently unbundled so that the supplier need not pay for
network components or facilities that it does not require for the service to be provided;
and
(c) upon request, at points in addition to th e network termination points offered to the
majority of users, subject to charges that reflect the cost of construction of necessaryadditional facilities.
2.3 Public availability of the procedures for interconnection negotiations
The procedures applicable to interconnection to a major supplier shall be made publicly
available.
2.4 Transparency of interconnection arrangements
A major supplier shall make either its interconn ection agreements or a reference interconnection
offer publicly available.
2.5 Interconnection:  Dispute settlement
A service supplier requesting interconnection to a major supplier shall have recourse, either:
(a) At any time or
(b) after a reasonable period of time which has been made publicly known to an
independent domestic body, which may be a regulatory body as referred to in paragraph
5 below, to resolve disputes regarding appropriate terms, conditions and rates forinterconnection within a reasonable period of time, to the extent that these have not
been established previously.TN/S/O/PER
Page 49
3. Universal service
Any Member has the right to define the kind of universal service obligation it wishes to
maintain.  Such obligations shall not be regarded as anti-competitive per se , provided that they are
administered in a transparent, non-discriminatory  and competitively neutral manner and are not more
burdensome than necessary for the kind of universal service defined by the Member.
4. Public availability of licensing criteria
Where a licence is required, the following shall be made publicly available:(a) All the licensing criteria and the period of time normally required to reach a decision
concerning an application for a licence, and
(b) the terms and conditions of individual licences.The reasons for the denial of a licence shall be made known to the applicant upon request.
5. Independent regulators
The regulatory body is separate from, and not accountable to, any supplier of basic
telecommunications services. The decisions of and pro cedures used by regulators shall be impartial with
respect to all market participants.
6. Allocation and use of scarce resources
Any procedures for the allocation and use of scarce resources, including frequencies, numbers
and rights of way, shall be carried out in an objective, timely, transparent and non-discriminatory
manner. The current state of allocated frequency bands shall be made publicly available, but detailed
identification of frequencies allocated for specific government uses is not required.
_______________TN/S/O/PER
Page 50PERU - LIST OF ARTICLE II (MFN) EXEMPTIONS
Sector or subsector Description of measure indicating
its inconsistency with Article IICountries to which the
measure appliesIntended duration Conditions  creating the need for
the exemption
All sectors
(movement of naturalpersons providing
services)Nationals of a country that has a
reciprocal labour agreement or anagreement on dual nationality andforeign personnel recruited underbilateral or multilateral agreements
concluded by the Government of Peru
are not subject to the limitations onrecruitment of foreign workers, whichestablish a maximum period of threeyears and a maximum of 20 per centof the total number of employees or
30 per cent of the total payroll.All countries IndefiniteReciprocity
Dual nationalityPromotion of investment
Cooperation
Transport
Land and sea Preferential treatment is reserved for
operators of the subregion in thefollowing cases: the Andean system
of road freight carriage; international
road passenger transport: freedom ofaccess to maritime transport cargo;multi-modal transport; freedom ofaccess to freight originating in andshipped by sea within the subregion,
including cabotage.Andean Group countries Indefinite Promotion of regional integration
Land transport Agreement on International Land
Transport: grants national treatment tosignatory partiesArgentina, Bolivia, Brazil, Chile,
Paraguay and UruguayIndefinite Promotion of regional integrationTN/S/O/PER
Page 51Sector or subsector Description of measure indicating
its inconsistency with Article IICountries to which the
measure appliesIntended duration Conditions  creating the need for
the exemption
Recreational, cultural
and sporting servicesThe law on performers provides
greater facilities for the presence ofLatin American performersinterpreting Latin American themes (ahigher quota of participation of suchperformers compared with those of
third countries).Mexico, Guatemala, Honduras,
El Salvador, Nicaragua,Costa Rica, Panama, Colombia,Venezuela, Dominican Republic,Cuba, Haiti, Ecuador, Bolivia,Brazil, Chile, Uruguay, Paraguay
and ArgentinaIndefinite Promotion of Latin American co-
operation and cultural values
Financial services Peru reserves the right not to apply
the most-favoured-nation clause tocountries which do not apply it
automatically and unconditionally to
Peru, as provided for in Article II of
the GATS
.All countries Indefinite Reciprocity
With respect to national treatment for
foreign investment, exceptionally,for reasons of national or public
interest, if a Member adopts
protectionist or discriminatorymeasures, Peru reserves the right todo likewise.All countries Indefinite National or public interest
__________