Deal is expected to make it even easier for Peruvian exporters to supply the Asian market
Avocados, blueberries and grapes are among the Peruvian exports that stand to benefit from a new free trade agreement with Hong Kong.
Although Hong Kong already welcomes a sizeable volume of fresh fruit imports tariff-free from Peru, the FTA aims to simplify trade procedures between the two countries by addressing other factors, such as non-tariff barriers and technical obstacles.
“The agreement heralds the beginning of closer bilateral relations between Hong Kong and Peru,” commented Hong Kong chief executive John Lee. “I believe that the unique advantages of Hong Kong under ‘one country, two systems’, including open and friendly business environment, simple and low tax regime, free flow of information and capital, and a pool of high quality talent with global vision, would enable Peru to better grasp development opportunities for the future.”
The South American country signed the agreement with China’s special administrative region on 15 November, alongside the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting in Lima, Peru.
In doing so, it became the second Latin American nation to forge an FTA with Hong Kong after Chile, which signed a similar deal with Hong Kong and China in 2012.
