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Overview
As a country, Peru is trying to modernise its national infrastructure. Currently, there are gaps in nearly all sectors, such as needs for education, rail and metro, healthcare, highways, ports, airports, and for innovation.
The UK is looked to as an example of high quality and modern standards in infrastructure projects, particularly in services provision. On a government-to-government level, Peru’s ministry of transport signed a Memorandum of Understanding (MoU) with the UK for the renewal of an Infrastructure Taskforce. In 2021, this taskforce had succeeded in training more than 200 Peruvian officials from 10 government institutions in UK methodologies.
Peru has also made progress in implementing Building Information Modelling (BIM) approaches in its infrastructure procurement, this alignment with international standards has supported UK infrastructure companies access project opportunities.
Trade agreements with Peru
The UK has 2 Free Trade Agreements (FTAs) with Peru:
- the UK-Andean FTA which came into force on 1 January 2021
- the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade agreement including 12 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the UK and Vietnam) which entered into force between the UK and Peru on 15 December 2024
The UK-Andean FTA must be read in conjunction with the following Parliamentary Report, as certain elements therein have undergone slight changes to adapt the existing agreement to the UK outside the EU.
This agreement will remain in force alongside CPTPP. At times, you will need to specify which agreement you choose to trade under (notably when applying rules of origin), but benefits from either agreement will mostly apply automatically. Our guides attempt to highlight where businesses may need to make an explicit decision.
CPTPP entry into force and ratification
As of 24 December 2024, CPTPP is in force between the UK and:
- Australia
- Brunei
- Chile
- Japan
- Malaysia
- New Zealand
- Peru
- Singapore
- Vietnam
This means that the UK can access CPTPP provisions with said countries.
The following countries have not yet ratified the terms of the UK’s accession:
Canada and Mexico.
This means that the UK cannot yet access CPTPP provisions with those countries.
This guidance will be updated following each of the remaining countries’ ratification of the terms of the UK’s accession to CPTPP and will include when CPTPP will enter in force between the UK and the relevant remaining country.
Services
You will be treated on a level playing field to Peruvian businesses (for sectors that are within scope), meaning you will operate under the same rules of Peruvian competitors. You are not required to have a business presence, such as a subsidiary or branch office, in Peru to provide services. This would allow, for example, you to provide consultancy services on an energy project in Peru from the UK, without being excluded for being UK-based.
The UK and Peru are encouraged to recognise one another’s professional qualifications where areas of mutual interest are identified. While decisions on recognition are for the Peruvian professional regulator to make, this could allow UK businesses greater access to the Peruvian market in areas such as engineering.
Find more information on temporary entry in Peru.
Procurement
Government procurement opportunities allow you to sell goods or services to foreign governments and public bodies at the central and local level, including numerous opportunities in the technology sector.
The Organismo Supervisor de las Contrataciones del Estado (OSCE) (website in Spanish) supervises the public procurement processes carried out by state entities, so that they are complete, efficient and competitive. The Electronic State Contracting System (SEACE) (website in Spanish) provides access to procurement opportunities on goods and services.
When selling to the Peruvian government, interested suppliers must participate in a tender process, in which registration with the National Registry of Suppliers (Registro Nacional de Proveedores, or RNP) is necessary. The RNP includes the following categories:
- registry of goods suppliers
- registry of services providers
- registry of executors of works
- registry of works consultants
Bidding is best done through a local agent who is registered, well connected, and familiar with Peruvian government bidding procedures.
Electronic contracts and trading digitally
As members of CPTPP, the UK and Peru have made commitments on trade conducted through digital means. These commitments can support UK businesses across the financial, professional and business services sector. CPTPP guarantees the use of electronic contracts, electronic signatures, and authentication without fearing that they will be rejected purely because they are in electronic form. Businesses also have freedom in determining the appropriate methods for completing your transactions in electronic form.
Opportunities for digital trading
Electronic authentication and electronic signatures
Electronic signatures and electronic authentication increase trust in e-commerce by helping to verify that transactions, and the people behind them, are genuine. Strengthening the legal validity of electronic signatures provides greater confidence that transactions can be concluded through electronic means.
By using electronic signatures and/or electronic authentication, you can complete transactions in a matter of minutes regardless of where your counterpart is, reducing costs and simplifying processes.
CPTPP ensures that electronic signatures are considered valid by all CPTPP countries, and individuals and businesses can confidently use them.
However, CPTPP countries might impose specific criteria regarding electronic signatures, including some circumstances where electronic signatures are not accepted. You should check local regulations for more information.
You have the freedom to determine the best way of authenticating your transaction. However, for some transaction categories, there can be specific requirements.
Paperless trading
Paperless trading refers to the conduct of trade activities using electronic rather than paper documents. This reduces administrative costs and improves efficiency of processes, benefiting UK businesses across all sectors.
The UK and CPTPP countries are committed to facilitating the flow of trade activities using electronic trade documents.
CPTPP countries have committed to making trade administration documents available in electronic form and to accept electronic versions of those documents. This refers to documents which are required in connection with the import or export of a good and must be presented to customs authorities.
Beyond CPTPP, the UK also enables commercial trade documents that use English law to be accepted in electronic form. This includes documents such as bills of lading, promissory notes, and bills of exchange. This was enabled by the Electronic Trade Document Act.
This complements the commitments made on paperless trading related to trade administration documents required by the UK government or other CPTPP countries as part of the import-export process. Find more information about the UK’s Electronic Trade Documents Act.
Different countries are at different stages of legislating for paperless trading and trade digitalisation. The United Nations Economic and Social Commission for Asia and the Pacific has created an interactive Model Law on Electronic Records (MLETR) tracker where you can view different countries’ progress.
Easier business travel
You have several visa options for both shorter and longer periods of stay to carry out business activities in Peru. This allows you to do activities such as negotiating contracts for training in person or travelling to Peru to provide design services.
In Peru, the following categories of UK business visitors are recognised:
- Business Visitors
- Intra-Corporate Transferees and Investors
- Contractual Service Suppliers and Independent Professionals
For more information, visit our temporary entry explainer.
Investment
UK and Peruvian investors benefit from increased transparency and simplification of investment administration. Find more detail on the investment provisions and how they can help businesses.
Department for Business and Trade support
The Department for Business and Trade (DBT) helps businesses export, drives inward and outward investment, negotiates market access and trade agreements, and champions free trade. Helpful links, tools and services available from DBT and wider government include:
Export Support Service (ESS) team
Get support on how to do business abroad. You may also be eligible for 1-2-1 support from a local International Trade Adviser. Businesses in Wales can also access support from Business Wales.
Export Support Service – International Markets (ESS-IM)
DBT's overseas in-market export support service for SMEs with high-export potential. Our International Market Advisers provide tailored support and market introduction information to new and current UK exporters looking to enter or expand into new markets. The service may be accessed globally with International Markets teams in South Asia, China, the Middle East, Africa, Eastern Europe, North America and Latin America.
Sign up to access free training on how to grow your international sales.
Information on finance and insurance for UK exports.
Trade and investment factsheets
The latest statistics on trade and investment between the UK and individual overseas partners.
Overseas business risk profiles
Information for UK businesses on political, economic and security risks when trading overseas.
Advice and warnings about travel abroad, including entry requirements, safety and security, health risks and legal differences.
Check or report a trade barrier
If you encounter an issue when exporting to any country – report the issue and UK government officials will be able to assess the issue and consider the options we have open to addressing it as appropriate
Search for your specific product to find applicable tariffs for each market, explore rules of origin and step-by-step help on customs procedures
Check import duties and allows you to check the status of available tariff rate quotas
Useful resources
You can find more information about export opportunities, business culture and any existing trade barriers on our Peru market guide.
Prior to export, you must be aware of local regulations and import conditions in Peru that apply to your goods or services. This can include tax considerations, labour laws, intellectual property rules, labelling and packaging regulations, among others.
To seek further information related to local regulations, business culture, or to find a local lawyer, translator, importer or distributor, you can use the following contacts:
- DBT’s Export Support Service International Markets team
- get in touch with DBT at the local British Embassy
- get in touch with the British Chambers of Commerce
For information on political, economic and security risks when trading with Peru, please see:
Note
This guidance contains data as reported by the UK from the Office for National Statistics (ONS) data source for total trade: UK total trade data (seasonally adjusted). Users are advised to use UK-reported data where possible for consistency between partners. This data is subject to asymmetries for example, the value of UK exports to Peru (reported by the UK) may not match the value of Peruvian imports from the UK (reported by Peru). Data is in nominal terms, meaning no adjustment has been made to account for changes in inflation or exchange rate. The totals may not exactly match the sum of their parts due to rounding.