The recent free-trade agreement between Hong Kong and Peru is set to open up new economic opportunities for both regions. This agreement, which focuses on cooperation in various aspects of trade, has been welcomed by Peruvian exporters and shippers who see Hong Kong as a strategic location for expanding their businesses.
Marjorie Yang, a representative on the Apec Advisory Council, highlighted the importance of bilateral agreements in boosting trade. She mentioned that while Hong Kong does not have tariffs to eliminate, the agreement with Peru will still benefit both parties and pave the way for future agreements with better terms.
Edgar Vasquez, a former Peruvian minister, emphasized the multifaceted nature of free trade deals, pointing out that they cover areas such as sanitary measures, technical barriers, and intellectual property. He believes that the agreement will enhance the visibility of Hong Kong in Peru and vice versa, leading to increased exports for both countries.
Liverita, a Peruvian freight forwarder and consultancy firm, recognized the potential of Hong Kong as an investment destination and set up offices in the SAR and Shanghai. General manager Carolina Hurtado praised the support received from InvestHK, the government agency promoting foreign investment, and highlighted Hong Kong’s advanced infrastructure and strong financial sector as key attractions for investors.
Overall, the Hong Kong-Peru free trade agreement is expected to not only boost trade between the two regions but also strengthen their economic ties and pave the way for further collaborations in the future. With Hong Kong’s strategic location and Peru’s growing export industry, both parties stand to benefit significantly from this agreement.
