Peru will streamline foreign trade with 10 countries in the Americas and the Caribbean

Peru will speed up and facilitate commercial operations with 10 countries in the Americas and the Caribbean, thanks to the signing of the Mutual Recognition Agreement (ARM) between the National Superintendence of Customs and Tax Administration (Sunat) and the customs institutions of Argentina, Brazil, Bolivia, Chile, Colombia, Costa Rica, Guatemala, Paraguay, the Dominican Republic and Uruguay.

Among the main products that Peruvian companies export to these markets are: molybdenum, zinc and copper minerals; crude iron and silver, oil and its derivatives, fruits such as avocados, grapes and coffee; and knitted fabrics, among others.

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The multilateral agreement, made within the framework of the VIII international seminar “Coordinated Border Management: AEO Program and Electronic Commerce”, which was held in Brazil, will allow recognizing and providing facilities to more than 2,000 companies certified as Authorized Economic Operators (AEO) in the region and is the largest signed, to date, with 11 signatory countries.

OAS Program

The AEO is a logistics chain security program created by the World Customs Organization (WCO) and present in 98 countries, which allows access to facilities in customs procedures for companies that meet the requirements established by customs administrations.

With the Mutual Recognition Agreement, customs grant benefits to AEO companies from other countries, such as reducing inspections and prioritizing the review of cargo selected for physical examination, avoiding duplication of controls and reducing time and costs, in addition to making more efficient risk management.

In Peru, the AEO program has 281 authorized economic operators that, between January and April of this year, have carried out foreign trade operations for an amount greater than US$ 12,000 million, which represents 33.3% of the total activities of foreign trade. During 2021, they carried out operations for US$ 32,125,909,232.

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Sunat has already signed eight Mutual Recognition Agreements, through which Peruvian AEO companies have benefits in a total of 14 countries.

In addition to the recently signed agreement, others have been previously signed with South Korea, Ecuador, the US and Mexico.

Likewise, work is being done on the implementation of additional benefits for AEO operators with other entities involved in foreign trade processes such as Senada, Digemid, Digesa, Sucamec and Sanipes, in order to continue streamlining procedures and reducing service times, also promoting the security of the international logistics chain.

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