HONG KONG – The Hong Kong Special Administrative Region and Peru concluded negotiations on a free trade agreement on Tuesday, according to the city’s finance chief.

The FTA will cover trade in goods and services, investment, intellectual property, and other related areas, Paul Chan Mo-po said on Thursday while addressing a reception to celebrate the 203rd anniversary of Peruvian Independence in the city.

“It will further strengthen our business and financial links, enhancing our bilateral relations.”

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Though Hong Kong and Peru are separated by more than 18,000 kilometers of the Pacific Ocean, “there is more that connects us than divides us”, he said, citing an old Chinese proverb, "A close friend afar brings a distant land near.”

Reaching the FTA will further strengthen business and financial links between the two economies and enhance bilateral relations, said the finance chief.

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“Today, we are here to reaffirm our friendship and look forward to new possibilities for closer collaboration in areas such as trade and commerce, tourism, arts, culture, and much more.”

The financial secretary said Peru was Hong Kong's fifth-largest trading partner in goods in Latin America in 2023, with the city’s total merchandise trade amounting to more than HK$5 billion.

Over the past five years, the SAR’s bilateral trade has grown at an average annual rate of 4 percent, Chan said, adding: “We are moving in the right direction.”

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The SAR government welcomes more of Peru's fascinating arts and culture to the city, he said. “Our city is a great stage for Peru to showcase its renowned creative, cultural and tourism offerings to people in this region and beyond.”

Peru’s Consul General in Hong Kong Enrique Carlos Cardenas Arestegui attended the program.