Peru: Government to boost entry into force of Peru-Hong Kong FTA

Peru: Government to boost entry into force of Peru-Hong Kong FTA

18:00 | Lima, Aug. 20.

Prime Minister Luis Galarreta stated on Thursday that the Government will boost the entry into force of the Free Trade Agreement (FTA) with Hong Kong this year.

Likewise, the government's spokesman reaffirmed that trade openness will remain a State policy.

"This year, the entry into force of the FTA with Hong Kong will be boosted, and new trade agreements will be advanced. Trade openness will remain a State policy," Galarreta said during 
his speech before the full Chamber of Deputies to present the Government General Policy.

He emphasized that the long-term goal is for Peru to consolidate its position as a platform for trade, investment, and services between South America and the Asia-Pacific, while maintaining participation in the Asia-Pacific Economic Cooperation (APEC) forum and other economic blocs.

In this regard, the government official underscored that the regional export offering will be promoted to reach new markets with trade potential for Peruvian products.

Mining

During his speech, the Prime Minister also stated that this Government wants responsible mining investment.

"But we must be precise: investment decisions are made and carried out by the private sector. The Government's responsibility is to generate legal certainty, predictable procedures, and timely decisions," he said.

The Cabinet chief announced that the Energy and Mines sector plans to authorize 240 exploration, exploitation, and beneficiation concession projects this year.

Galarreta noted that a portfolio with the potential to exceed US$33 billion in investment by 2031 is being used as a reference.

"We will not present that figure as money controlled by the State. We will present what is actually our responsibility: reducing delays, avoiding duplication, and providing predictability without lowering environmental and social obligations," he said in his speech.

Fisheries

The Prime Minister stated that this Government wants a more productive, sustainable, and competitive fisheries sector capable of generating more jobs and income for the thousands of families that depend on it.

"Therefore, we need to better understand our sea and make decisions about our resources based on timely and more accurate scientific information," Galarreta said.

"That is why, after more than 30 years, the Peruvian State will once again invest in a scientific research vessel, commissioned to Navy Industrial Services (SIMA), with an investment of nearly S/190 million (about US$56.5 million)," he added.

The Cabinet chief explained that this vessel will make it possible to study anchovy and economically important species such as giant squid, Pacific bonito, mahi-mahi, horse mackerel, and Pacific mackerel with greater precision, strengthening the scientific information needed to manage our fisheries resources responsibly and sustainably.

(END) SDD/MVB

Publicado: 20/8/2026