By South China Morning Post | Created at 2024-11-15 23:14:45 | Updated at 2024-11-16 01:29:16
2 hours ago
Hong Kong has signed a free-trade deal with Peru, in what the two sides hailed as a way to spur new business opportunities between the two economies and with mainland China.
Witnessed by Peruvian President Dina Boluarte and Chief Executive John Lee Ka-chiu, Secretary for Commerce and Economic Development Algernon Yau Ying-wah and his counterpart Minister of Foreign Trade and Tourism Ursula Leon Chempen signed the agreement on Friday (local time). Lee and Yau are also attending the Asia-Pacific Economic Cooperation summit that runs until Saturday.
The deal covers goods and services, as well as investment and other related areas. The two sides started negotiations last January and wrapped them up in July.
Peru is the second South American economy to reach a free-trade deal with Hong Kong, following one with Chile that took effect a decade ago.
So far, the city has nine free-trade agreements with 21 economies, including mainland China and member states of the Association of Southeast Asian Nations.
Peru was Hong Kong’s fifth-largest trading partner in Latin America last year, with bilateral merchandise trade reaching HK$5.2 billion.
