October 04,2007

Finance Committee Completes Consideration of Peru Trade Agreement

Panel approves Peru trade pact by voice vote today

Washington, DC – By voice vote today, the Senate Finance Committee approved the Peru Free
Trade Agreement and the customs, procurement, illegal logging, and other provisions it implements. Today’s vote follows the committee’s “mock markup” of the measure on September
21, during which the panel gave broad, bipartisan support to the draft legislation with no
amendments. This vote concludes the panel’s consideration of the pact, which will next be
considered by the full Senate for an up-or-down vote, in accordance with the Trade Promotion
Authority Act, or "fast track" procedures. Finance Committee Chairman Max Baucus (D-Mont.)
today praised the landmark environmental and labor requirements included in the pact pursuant to a bipartisan trade deal struck between Congress and the administration last May.

“This agreement holds the bar higher than ever to protect labor and environmental
standards that will benefit generations to come,” Baucus said. “But it should be noted that
this pact will deliver benefits today, too. It will deliver the fair deal that American workers
and businesses deserve from their trading partners. I’m pleased with the opportunities this
pact will provide the people in both countries, and hope it can be used as a framework for
agreements to come.”

The full text of the implementing bill is available on the legislation page of the Finance
Committee website.

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