Saturday, June 30, 2007

SENATE FOLLOWS HOUSE IN APPROVING SHORT-TERM ATPA EXTENSION

The U.S. Senate approved by “unanimous consent” an eight-months extension of the Andean Trade Preferences Act (ATPA) for all four beneficiary countries (Bolivia, Colombia, Ecuador and Peru). The Senate action followed by one day the House approval. Most important for canned food imports is Peru, which can now continue shipping duty-free artichokes to the U.S.

In addition, before this temporary extension expires eight months from now, it is widely expected that the official Peruvian Free Trade Agreement (FTA) will be finalized and signed into law, making the duty free treatment permanent.