Peru and Hong Kong start first round of FTA negotiations

By Espinosa Bellido Abogados

Peru and Hong Kong began the first round of trade negotiations for the signing of a Free Trade Agreement (FTA).

The first round was held virtually for some groups, from January 30 to February 3, while other groups will meet in person in Hong Kong during the week of February 6-10. According to State news agency Andina, in this round, "13 negotiating tables will be worked on, where issues related to market access, rules of origin, sanitary and phytosanitary measures, trade in services, e-commerce, investment, cooperation, trade facilitation, temporary entry of businesspeople, among others, will be addressed".

"The negotiation of an FTA with Hong Kong and its future signing allows us to consolidate the zero-tariff treatment for our products, granting certainty, predictability, and advantage to Peruvian exporters. As Hong Kong is the third-largest destination for our non-traditional exports in Asia, this FTA will provide a further boost to our shipments," Foreign Trade Minister Luis Fernando Helguero said to Andina.

The government official reaffirmed that reaching an FTA with Hong Kong is one more step in Peru's strategy to consolidate its position in the Asia-Pacific region, achieving greater opening of markets, expanding tariff benefits for Peruvian companies (especially MSMEs), and strengthening the country's image for greater attraction of investments.