With the recovery of democracy in 2000, bilateral relations with the United States were relaunched and the bilateral agenda was broadened, a product of the coincidence of values and principles as democracy, rule of law, human rights and the respect for freedom.
The bilateral agenda for the 21st Century is based in shared values as democracy, the rule of law, and respect for human rights; the strengthening of institutions and democracy; free trade; environmental and counternarcotics cooperation; and cultural bonds, energized by the Peruvian community in the United States.
In the economic realm, since the U.S.-Peru Trade Promotion Agreement (PTPA) went into effect in February 2009, trade relations increased and Peru’s integration with the world economy deepened. The United States is one of Peru’s top trading partners.
After the interim government, headed by Valentín Paniagua (2000-2001), Alejandro Toledo (2001-2006) relaunched the bilateral relations with the United States, the bilateral agenda was broadened and the negotiations for a free trade agreement with the United States were initiated.
In 2006, President Alan García was elected for a second term. He maintained the economy orthodoxy, concentrating on reducing the fiscal deficit, and governed this time as a moderate. Finally, the negotiations for a free trade agreement were concluded and the treaty entered into force on February 1st of 2009.
During President Ollanta Humala’s Government (2006-2012) the main bilateral areas were the negotiations for the multilateral Trans-Pacific Partnership Agreement; cooperation on counternarcotics, education, energy, climate change, science and technology, and bilateral trade. In a joint statement both leaders “recognized that the United States and Peru are working to consolidate a strategic partnership for the 21st century that will further enhance security, prosperity and development in the hemisphere”.
President Pedro Pablo Kuczynski was elected in 2016. A former Prime Minister and Minister of Economy, Kuczynski sought to invigorate the bilateral relation. On February 2017, shortly after President Donald Trump took office, President Kuczynski made an official visit to the United States. On that occasion, President Trump acknowledged the high level of the bilateral relation “Peru has been a fantastic neighbor. We've had great relationships - better now than ever before".
More recently, during the 8th Summit of the Americas in Lima (April 13-14, 2018), Vice President Michael Pence commend President Martín Vizcarra for gather and commit the countries in the Hemisphere to face corruption through Democratic Governance. This Summit was a milestone in which for the first time in the history of the Summits participants approved by consensus the “Lima Commitment: Democratic Governance Against Corruption”.
Furthermore, Secretary Michael Pompeo visited Peru in June, 2019, and acknowledged Peru’s leadership regarding the Venezuela crisis and its key role in conducting the Lima Group to achieve a peaceful democratic transition. In addition, the United States commends Peru for its generosity over the Venezuelan refugee crisis and offered their support in sharing this burden.