U.S. WTO Attaché Lauds Peru Bilateral Trade During WTO Review
The U.S.-Peru Trade Promotion Agreement (PTPA) ramped up bilateral goods trade to nearly $16 billion in 2012 through improved “transparency and efficiency,” notably in customs procedure, said U.S. Mission to the World Trade Organization (WTO) Attaché Quentin Baird in prepared remarks at the WTO Trade Policy Review of Peru. The review was conducted on Nov. 13 and Nov. 15. The PTPA took effect in January 2009. Peruvian liberalization efforts, coupled with advantageous commodity prices, contributed to poverty reduction from 42 percent in 2007 to 28 percent in 2011, said Baird.
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The U.S. also commends the Peruvian decision to reject proposed regulations that would require certain foods to include front-of-pack consumption warning statements, said Baird. “We continue to encourage Peru to consider alternate labeling approaches such as mandatory nutrition labeling and use of voluntary claims for foods with low levels of the nutrients of concern, or front of pack labeling that presents the nutrients as part of total dietary recommendations,” said Baird. “We believe that such approaches are less trade restrictive, are more consistent with international standards, and are less burdensome for both government and industry.”