After starting the round of negotiations in November 2022, the Governments of Peru and Hong Kong announced the successful closure of talks for a trade agreement that precedes the signing of a free trade agreement (FTA) between both nations.
Hong Kong is considered the gateway to Asia. The announcement was made official by the Peruvian Minister of Foreign Trade and Tourism, Elizabeth Galdo, and her Hong Kong counterpart of Commerce and Economic Development, Algernon Yau.
Last April, the head of Mincetur had announced that the terms of the FTA with China would also be renegotiated in view of the APEC 2024 summit, to be organized in our country.
On that occasion, he had highlighted the progress towards new trade agreements not only with Hong Kong, but with India, Indonesia and Thailand. The objective is to open new markets to the East.
The new agreement contemplates 14 chapters to promote access to markets, designation of rules of origin, sanitary and phytosanitary measures, trade in services, electronic commerce, investment, cooperation, trade facilitation, temporary entry of business people, among others.
According to figures from the ADEX Data Trade Commercial Intelligence System, in the first quarter of 2024 alone, shipments of US$72 million 954,000 were shipped, highlighting grapes (US$31 million 886,000), blueberries (US$13 million 16,000), fish meal (US$10 million 789,000) and avocados (US$8 million 633,000).
Other products with potential are maca, cochineal carmine, coffee, zinc, cocoa, cotton clothing, etc.
The key
West. In 2023, Peruvian exports to Hong Kong reached US$66 million, 1.5% more than in 2022. The trade balance in the last five years has been positive.
Outgoing. In 2023, Hong Kong became the third most important destination for non-traditional exports from Peru to Asia.
Source: Larepublica
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