China, Peru Set to Sign Free-Trade Agreement

Hong Kong Chief Executive John Lee confirmed the signing of a free-trade agreement (FTA) with Peru this week, enhancing economic ties ahead of the APEC Economic Leaders’ meeting. The agreement, covering goods, services, and investment, marks Hong Kong's ninth FTA, with Peru being its fifth-largest trading partner in Latin America. Concurrently, Chinese President Xi Jinping is set to visit Brazil, where several bilateral agreements in agriculture, trade, and investment will be announced. During Xi's visit to Peru, an upgraded FTA with China will be signed, aiming to boost trade by at least 50%. Peru's strategic role in APEC is highlighted by its efforts to leverage the organization for economic growth and digitalization. Both Peru and China are focusing on significant infrastructure investments, such as the Chancay mega port, to enhance trade capabilities.