HK to sign free trade agreement with Peru: CE

Chief Executive John Lee has confirmed that a free-trade agreement between Hong Kong and Peru will be signed this week. Lee arrived in Lima on Wednesday evening local time, ahead of the Apec Economic Leaders’ meeting. In a Facebook entry, the CE said he was greeted at the airport by Peruvian energy minister Romulo Mucho Mamani and Chinese Ambassador to Lima Song Yang. Hong Kong began negotiating the pact with Peru in January 2023, with the agreement to cover goods and services, as well as investment and a dispute settlement mechanism. Talks concluded in July this year. This will be Hong Kong’s ninth FTA, with the existing eight covering 20 economies. Apart from securing the much-anticipated trade pact, the SAR leader will also attend bilateral meetings with other Apec leaders and meet local business representatives in Lima. Peru is Hong Kong’s fifth-largest trading partner in Latin America and 46th globally. Merchandise trade between the two places totalled HK$5.2 billion last year. Lee will return to Hong Kong next Tuesday.