The Peruvian Government has ratified the Free Trade Agreement between the Republic of Peru and Hong Kong (China), which was signed on November 15, 2024, in the city of Lima.
Through Supreme Decree No. 030-2026-RE, published in the Official Gazette El Peruano on Wednesday, the Government also ratified the Side Letter to the Free Trade Agreement between the Republic of Peru and Hong Kong (China) on Professional Services.
This document was signed on November 15, 2024.
The decree recitals state that the domestic ratification of the aforementioned treaties with Hong Kong is in Peru's national interest.
The trade agreement will help consolidate Peruvian presence in the Asia-Pacific region and provide multiple opportunities for Peruvian exporters of goods and services.
Among the chapters negotiated under the agreement are commitments on cross-border trade in services. These provisions will allow Peruvian companies to export services to Hong Kong without being required to establish a commercial presence in that economy, benefiting sectors such as design, business services, software applications, among others.
Additionally, the provisions on financial services guarantee a stable, unrestricted framework, encouraging Hong Kong-owned companies, including banks and insurance firms, to invest in Peru.
Regarding goods, Hong Kong has committed to applying a zero tariff indefinitely on Peruvian exports.
This will provide economic operators with certainty, predictability, and a competitive advantage when exporting to said market.