Hong Kong and Peru conclude talks on free-trade pact, finance minister says
- Deal, which would be ninth such pact Hong Kong has in place, also covers investment and intellectual property
Hong Kong and Peru have concluded talks over a bilateral free-trade deal that also covers investment and intellectual property, according to the financial secretary, which once signed will add to the eight existing such pacts the city has in place.
Financial Secretary Paul Chan Mo-po, who on Thursday attended a celebration of the 203rd anniversary of the independence of Peru, announced both sides reached the milestone on Tuesday, adding the agreement would strengthen business and financial links, as well as bilateral ties.
“Hong Kong and Peru are prime connection points to wider markets in our respective regions,” Chan said. “Hong Kong, in particular, is the ‘superconnector’ and ‘super value-adder’ for foreign companies looking to access the enormous market of the Chinese mainland, the Asean region and beyond.”
Hong Kong has eight free-trade agreements covering 20 economies, namely with mainland China, New Zealand, the Member States of the European Free Trade Association, Chile, Macau, Asean, Georgia and Australia.
Asean is the 10-member economic bloc comprising Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia, Laos and Vietnam.
Peru was Hong Kong’s fifth-largest trading partner in Latin America last year, with total merchandise trade exceeding HK$5 billion (US$640 million). Over the past five years, bilateral trade has grown at an annual average pace of 4 per cent.
