Chief Executive John Ka-chiu said Saturday that he met with the leaders of Malaysia, Vietnam, and Singapore at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Lima, Peru to further bolster Hong Kong’s ties with Association of Southeast Asian Nations (ASEAN) economies.

Lee said he had separate meetings with Prime Minister of Malaysia Anwar Ibrahim, President of Vietnam Luong Cuong, and Prime Minister of Singapore Lawrence Wong on Friday to enhance economic and trade relations and cultural exchanges.

“Hong Kong values our close relations with the ASEAN region. ASEAN has been our second-largest merchandise trade partner for more than a decade, accounting for 80 percent of Hong Kong's total foreign trade value,” Lee said in a media session in Lima.

“Since my last visit to these three countries, we have strengthened cooperation at various levels and achieved tangible results,” he added.

ALSO READ: CE: HK to make expanding ties with ASEAN a top priority

Lee said Hong Kong is actively promoting further collaboration, including the plan to establish an Economic and Trade Office in Malaysia.

“We have gradually increased direct flights between Hong Kong and several ASEAN countries to facilitate greater people-to-people exchanges. I have also made use of the opportunity to establish link with other attending leaders and build connections,” Lee said.

We will continue to strive for regional cooperation and expand our business networks,” he added.

Meanwhile, Lee said Hong Kong and Peru have started negotiations on an Investment Promotion and Protection Agreement to strengthen investment flows between the two places after they signed a free trade agreement on Friday.

ALSO READ: Over 150 sectors set to benefit as Hong Kong, Peru sign FTA

“Peru ranks fifth among Hong Kong's merchandise trading partner in Latin America. With a burgeoning consumer market and ongoing infrastructure development, Peru presents significant opportunities,” Lee said.

He noted that, in terms of trade in goods, over 98 percent of Hong Kong's originating goods will enjoy tariff-free access to the Peruvian market under the FTA.

“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,” Lee said.