AeA Applauds House Approval of Free Trade Agreement with Peru
Agreement Enhances Trade Opportunities for U.S. High-tech Industry

Washington, DC (November 8, 2007) – Today, the U.S. House of Representatives approved the legislation implementing the US – Peru Free Trade Agreement by a vote of 285-132. With 109 Democrats voting in favor of the agreement, the vote signaled strong bipartisan support for the FTA which will substantially expand market opportunities for the U.S. high-tech industry in Peru.

Rob Mulligan, AeA’s Senior Vice President International, said, “AeA applauds the determination and dedicated efforts of the House leadership in working with the Administration on key issues that rebuilt bipartisan support for trade and the US-Peru FTA. While Peru might be a small market for U.S. high-tech products, we have a significant tech trade surplus with Peru, and bilateral trade agreements such as the U.S.-Peru Free Trade Agreement help strengthen ties between countries and foster free markets and democracy in a region that is struggling with both. Ultimately, this helps create American jobs as it opens the Peruvian marketplace to U.S. products and services.”

“AeA welcomes passage of this agreement as a step in a right direction towards opening foreign markets and leveling the playing field for US companies expanding abroad. We encourage the House leadership to continue this positive trend by supporting the free trade agreements with Colombia, Panama and Korea, which will further expand opportunities for AeA member companies exporting or planning to export to these countries.”

In April, AeA released a report, Free Trade Peru, which found that high-tech goods exports to Peru totaled $640 million in 2006, up 49 percent from the previous year. The fact that Peru has agreed to join the World Trade Organization’s Information Technology Agreement, which removes tariff and non-tariff barriers to technology products, means that the US high-tech exports will further increase after the approval of the FTA.

For more information about AeA, please visit www.aeanet.org.

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About AeA
AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs. For more information, please visit www.aeanet.org.

This page was last updated on 11/08/07.