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Peru-US FTA on Questioned
Criticisms related to the Free Trade Agreement (FTA)
with United States are heating up in Peru on
Sunday, faced with the possible ratification of
the pact by the US Congress.
New warnings on the negative effects of the
treaty were issued by an expert on the subject,
after the Peruvian government successfully
celebrated the announcement by the presidency
and the US Congress of negotiations on the
ratification.
Economist Jose de Echave, from the Cooperation
non-governmental organization, said that the FTA
will subdue the Peruvian sovereignty to a
foreign mediating court that normally failed in
favor of transnational companies.
If the State modifies the environment
legislation, what will imply new investments to
those companies due to the FTA, these could
affect future profits and appeal to arbitration,
ignoring local justice, the economist stated.
Echave said that the FTA establishes that, in a
reverse situation, the Peruvian State can not
demand a company and is hindered faced with
transnational enterprises.
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