Washington, D.C., November 8, 2007 – The United States Council for International Business (USCIB), which represents America’s top global companies, applauded passage today of the U.S.-Peru Free Trade Agreement by the U.S. House of Representatives.
“This agreement will provide improved market access for U.S. manufactured goods, offer new opportunities to the services sector, including financial services providers, and open up Peru’s market to American agricultural exports,” stated USCIB President Peter M. Robinson.
Mr. Robinson also noted that the Peru agreement would give greater security and predictability to U.S. investors operating in that country. “Especially important in that regard is the strong investor-to-state dispute-settlement mechanism in the agreement, which means that investors will have a neutral forum for adjudication of any disputes,” he said.
“We are hopeful that the U.S. Senate will now move promptly to approve the agreement, which will do much to cement relations with one of our best neighbors in the hemisphere,” stated Mr. Robinson. He also said USCIB members hoped it would provide a spur to additional market-opening trade agreements at the bilateral and multilateral levels.
USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment. Based in New York, its membership includes more than 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3.5 trillion. As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.