Hong Kong to begin trade agreement talks with Peru in first big win at Apec forum
- Commerce secretary touts ‘mutual benefits’ of deal that would add to the city’s eight free-trade agreements already in place
- Chief Executive John Lee brings a 20-strong delegation to the Thai capital in bid to woo world leaders and restore the city’s reputation
Shortly after landing in Bangkok on Wednesday, Secretary for Commerce and Economic Development Algernon Yau Ying-wah said he met Miguel Palomino, Peru’s vice-minister of foreign trade, on the sidelines of the ongoing Asia-Pacific Economic Cooperation (Apec) forum.
He said both sides had agreed to launch negotiations for a free-trade agreement (FTA) aimed at facilitating business with the city’s “important trading partner in Latin America”.
“I am confident that the free-trade agreement will help enhance the trade and investment ties between Hong Kong and Peru, and will bring mutual benefits to our two economies,” Yau added.
The regional forum, featuring more than 20 economies, is Chief Executive John Lee Ka-chiu’s first international event since the US-sanctioned leader took the helm of the city in July, vowing to put Hong Kong back on the map and lure back talent.
He is due to arrive on Thursday, a day before he will have the chance to woo other world leaders, including the likes of US Vice-President Kamala Harris and French President Emmanuel Macron.
But with unease between China and the West, Hong Kong is likely to put its eggs in the basket of other Asean economies, as well as countries from the Middle East, Central Asia and South America.
