**<u>Table 2.2: Significant institutional events in Peru’s reforms</u>**

|Event|Date|Vision/Strategy|
|---|---|---|
|Andean Community|From 1969|Without Peru formally leaving the Andean Agreement, Peru shifted from its<br>focus on regional market-sharing(isolated from internal as well as from<br>external competition)to a strategyof openness into competitive markets.|
|United States Andean<br>Trade Preference Act|Peru participation first<br>signed by Pres.<br>Fujimori in 1991|Renewal negotiations every three years provided experience, confidence<br>dealing within the legalistic approach of the US,<br>Renegotiation in 2001 became a focal point for reorientation of trade<br>strategy, use of trade negotiations as a part of policy reform,<br>reorganization of trade ministrytoward theglobal economy.|
|INDECOPI|Created Nov. 1992|Introducedobjective, accountable and transparent regulatory procedures to<br>competition policy, consumer protection, bankruptcy proceedings,<br>technical and commercial standards, trade remedy instruments,<br>intellectual property<br>A major part of the effort to change the culture of economic policy<br>management.|
|Asia-Pacific Economic<br>Cooperation (APEC)|Peru joined in 1998|An early step in Peru’s return to the international financial orbit after the<br>crisis of the 1980s,<br>Used by the government to build relationships of both the Peruvian<br>government and business with Asian counterparts|
|MEF study comparing<br>Peru’s progress with<br>that of several Asian<br>countries|2001|Used to advance a positive view of integration into the global economy, to<br>support creation of a reoriented trade ministry, MINCETUR,<br>A vehicle for communicating with the public as to the content and the<br>outcome of reforms.|
|Formalization of trade<br>strategy in the MEF|2000-03|From openness as reaction − the removal of previous, unsuccessful, policies<br>− to openness as a positive strategy and view of Peru’s place in the world,<br>not rightist policy, but policy for all the people<br>- Reduction of tariff level and dispersion,<br>- Attention to transparencyofprocedures|
|MINCETUR created,<br>replaced the old<br>Ministry of Industry,<br>Tourism, and<br>Commercial<br>Negotiations|2002|Separated trade from a ministry previously responsible for domestic<br>production/support,<br>Allowed a reorientation from constituencies focused on the local market<br>toward sectors/interests oriented toward international markets|
|Peru-USA Free Trade<br>Agreement|Negotiated 2003-06,<br>signed April 2006,<br>Peru ratified June<br>2006, US ratified<br>December 2007|First trade agreement negotiated by Peru with a large economy, provided<br>template for later negotiations with China and other countries.|
|The 100 decrees|March-June 2008|Second-generation reforms, including legislative decrees on matters not<br>directly demanded the Peru-US FTA, but provided political impetus by the<br>agreement.|
|MEF Ministerial<br>Resolution,_Tariff_<br>_Policy Guidelines_|2006|MEF elaborates a vision of the economic path the country should follow; a<br>comprehensive document establishing a reform tariff policy as part of its<br>overall strategy|

Source: Authors’ elaboration.

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