Our research studies the international competitiveness of small- and medium-sized enterprises (SMEs) in an emerging Latin-American country. Using a sample of 100 SMEs in Peru, we find that firms compete abroad with standardized products, which are conditioned by the host-country markets, human capital, and industry cooperation. However, the results show that the age and size of the firm are not determining factors in competing overseas. Our findings open a new agenda for policymakers when interpreting how they should promote and support Latin-American SMEs.