Free Trade Agreement between Peru and the States of the European Free Trade Association

Country / jurisdiction: Iceland · Year: 2010 · Status: In force · Level: International · Type: Voluntary

The Free Trade Agreement between Peru and the European Free Trade Association States ("EFTA") entered into force on 1 July 2011 for Peru, Liechtenstein and Switzerland, 1 October 2011 for Iceland and 1 July 2012 for Norway.

It provides for the elimination of import tariffs for most industrial and energy sector products including:

Electric motors, turbines and generators;

Mechanical equipment including pumps, appliances, and other advanced machinery;

Electric accumulators, transformers, capacitors, batteries;

Motor vehicles;

Mineral ore, slag and ash;

Mineral fuels, oils and other products;

Metals and their articles e.g. iron and steel;

Semiconductors devices and photovoltaic cells;

Rule of origins apply to qualify for the preferential tariff treatment : products need to be wholly obtained on the territory of at least one of the Parties, or having undergone a significant production, or incorporate non-originating materials valued  at less than 50-60 % of the ex-works final price.

Official source: https://www.efta.int/free-trade/free-trade-agreements/peru