LIMA, May 28 (NNN-ANDINA) — Peru will speed up and facilitate import-export transactions with Bolivia, Colombia, and Ecuador, thanks to the Mutual Recognition Agreement (MRA) signed between its National Customs and Tax Administration (Sunat) and customs administrations in Andean Community (CAN) member states.
All companies certified as Authorized Economic Operators (AEOs) in Peruwill be recognized under this agreement.
According to Sunat, the mutual recognition will help facilitate international transactions within the Andean bloc and ensure the logistics chain with CAN member states.
Benefits are granted on a reciprocal basis to operators certified under such programs, allowing them to reduce costs and time, which will improve competitiveness of Peruvian products.
Bolivia, Colombia, and Ecuador are important trading partners for Peru. Last year, transactions made with these countries stood at around US$4.705 billion, up 16% compared to 2017.
Likewise, these are key destinations for Peruvian exports, which totaled US$2.799 billion in 2018, up by 13.9% from a year earlier.
The most exported items included oil, fuel, animal feed, as well as iron and copper bars.
Imports also posted an increase (18.5%), being fuel and animal feed the most demanded products.
This is the fifth agreement reached by Peru, after the ones signed with Korea, Uruguay, the Pacific Alliance countries (Chile, Mexico and Colombia), and the United States.
The initiative strengthens the Authorized Economic Operator (AEO) program through a mutual recognition process with Peru’s leading trading partners. — NNN-ANDINA
