Hong Kong Signs Free Trade Deal with Peru

Hong Kong has officially signed a free-trade agreement (FTA) with Peru during the APEC summit in Lima, aimed at enhancing economic ties and creating new business opportunities. The FTA encompasses trade in goods and services, investment, and other areas, with both economies expecting mutual benefits, particularly in sectors where Hong Kong has advantages such as finance and technology. This agreement marks a significant milestone as Peru becomes Hong Kong's second South American trading partner, following Chile, and solidifies Peru's position as Hong Kong's fifth-largest trading partner in Latin America. Hong Kong's Chief Executive John Lee highlighted the FTA's strategic value, emphasizing its potential to open up the Peruvian market. The deal is expected to provide legal certainty and enhance bilateral trade, with ongoing discussions about a separate Investment Promotion and Protection Agreement. In addition to this agreement, Hong Kong is also seeking to strengthen ties with Southeast Asian nations, further expanding its international economic relationships.