On 22 April, 2006, Venezuela announced its decision to terminate the Agreement of Cartagena, revoking its rights and obligations as a member of the Andean Community, with the exception of the benefits received and granted under the Liberalization Program of the Subregion, that would remain in force for a period of five years.
On 27 April, 2011, Decision 746   of the Andean Community established that said tariff preferences would be extended until the entry into force of a bilateral agreement between each of the member countries and Venezuela.
In this context, Peru and Venezuela signed a Trade Partial Scope Agreement on 07 January, 2012. On 03 February, 2012, both countries concluded the negotiations of the pending annexes of the agreement after five rounds of negotiations.
| 03 February 2012 |
Fifth round of negotiations  |
| 18 October 2011 |
Third round of trade negotiations |
| Source: Ministerio de Comercio Exterior y Turismo (MINCETUR), Peru |
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