Andina - 24 May 2022
Peru close to starting FTA negotiations with Hong Kong and Indonesia
Foreign Trade and Tourism Minister Roberto Sanchez on Tuesday reported that exploratory work with a view to starting negotiations for future Free Trade Agreements (FTAs) between Peru and the economies of Hong Kong and Indonesia will commence shortly, which is important news for Peruvian exporters.
The government official revealed that Peru’s Deputy Foreign Trade Minister Ana Cecilia Gervasi has held meetings with Hong Kong’s Secretary for Commerce and Economic Development Edward Yau and Indonesian Minister of Trade Muhammad Lutfi.
Both meetings took place within the framework of the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting held in Bangkok, Thailand.
"FTAs with Hong Kong and Indonesia are part of the strategy to facilitate access to larger markets for Peru in the Asia-Pacific region, particularly in Southeast Asia," Sanchez remarked.
"This is the Peruvian Government’s commitment to our exporters," the high-ranking official added.
Forthcoming launch of negotiations
During the meeting between Peru’s Deputy Foreign Trade Minister Ana Cecilia Gervasi and Hong Kong’s Secretary for Commerce and Economic Development, the authorities agreed to start collecting information and to begin the first talks for a future trade agreement shortly.
"There is room to further promote our exports to Hong Kong, not only at the level of products, but at the level of services," Gervasi explained.
"Let us not forget that Hong Kong is one of the most competitive economies in the world and its high quality of life makes it an interesting market," she added.
Regarding the meeting with the Indonesian Trade Minister, Gervasi said that they agreed to speed up the preparations to commence negotiations for a bilateral FTA in order to strengthen trade between Peru and Indonesia.
As is known, Indonesia is one of the most dynamic economies in Southeast Asia, which provides a great opportunity to boost Peru’s non-traditional exports.