January 20, 2016
US Agriculture Secretary to lead trade mission to Chile and Peru
US Agriculture Secretary Tom Vilsack will lead a trade mission on March 14 - 18 to expand export opportunities for US agriculture in Chile and Peru, the USDA announced.
"Thanks to existing free trade agreements, the USenjoys strong trading relationships with both Chile and Peru," said Vilsack. "In addition, both nations are part of the Trans-Pacific Partnership, which if implemented, will boost the Chilean and Peruvian economies and tighten integration with the US economy, helping further expand demand for US agricultural products."
The US entered into a trade agreement with Peruin 2009 that slashed agricultural tariffs and improved market access for many US products. As a result, US farm and food exports to Peru have nearly tripled, reaching a record US$1.25 billion in fiscal year 2015.
In the Chilean market, all US products enjoy duty-free access as of 2015, due to the free trade agreement enacted in 2004. Since 2004, US exports to Chile have grown more than 500%, totaling US$803 million in fiscal year 2015.
"In both Chile and Peru, steady economic growth and an expanding middle-class population are fueling demand for high-quality, made-in-America food and agricultural products. Now that the US enjoys open access to these markets, it''s a great time for US companies – especially small- and medium-sized enterprises – to start or expand their exports there," Vilsack said.