SBA Chief Lauds Signing of Peru Trade Promotion Agreement

Steve Preston, Administrator of the U.S. Small Business Administration, made the following statement today regarding the signing of implementing legislation for the United States-Peru Trade Promotion Agreement passed by Congress:

"The U.S.-Peru Trade Promotion Agreement advances the interests of America's small businesses. It will remove trade barriers that are particularly onerous to small firms and increase export opportunities for America's entrepreneurs. Small companies account for close to 40 percent of the value of U.S. exports to Peru, and more than 80 percent of U.S. companies that export to Peru are small. These small businesses will now benefit from the same duty-free access that their Peruvian counterparts already enjoy.

"As drivers of the U.S. economy, small businesses are crucial to America's vitality. And they have helped push U.S. exports to record levels. By enacting free trade agreements and tearing down the barriers to exports, we can create more opportunities for America's entrepreneurs, invigorating growth, job creation, and innovation.

"I commend Congress for working in a bipartisan manner to pass the U.S.-Peru Trade Promotion Agreement and urge them to pass pending agreements with Colombia, Panama and South Korea."