Chief Executive John Lee said his visit to Peru and participation in the Asia-Pacific Economic Cooperation (APEC) meeting achieved three results.
 
He made the statement while meeting the media in Peru, telling reporters that the trip demonstrated Hong Kong’s commitment to promoting regional economic and trade co-operation and exploring diverse development opportunities.
 
Mr Lee explained that signing a free trade agreement with Peru enables Hong Kong to explore new growth areas and market opportunities in South America.
 
The pact is the ninth for Hong Kong and the first under the current-term Hong Kong Special Administrative Region Government. To date, the city has already signed free trade agreements with 21 economies worldwide.
 
Mr Lee said: “In terms of trade in goods, over 98% of Hong Kong’s originating goods will enjoy tariff-free access to the Peruvian market.
 
“For trade in services, Hong Kong service providers across more than 150 sectors will benefit. These sectors include professional services, research and development, financial services and transport services.”
 
Hong Kong and Peru have also commenced negotiations on a separate investment promotion and protection agreement, he added.
 
Furthermore, through joining the APEC sessions and meeting officials from various countries and regions, the Chief Executive said Hong Kong enhanced connections and relationships with Association of Southeast Asian Nations economies, as well as built connections with other economies.