Hong Kong and Peru have signed a co-operation arrangement to facilitate and promote two-way trade and investment, it has been revealed.
Secretary for Commerce and Economic Development Rita Lau and Peru's Minister of Foreign Trade and Tourism Mercedes Araoz Fernandez signed the document on November 21, in Lima.
The successful signing of the arrangement will be instrumental in fostering closer trade and economic ties between the two sides, Lau said, and has laid the foundation for future discussion of a two-way Free-Trade Agreement (FTA) between Hong Kong and Peru.
The arrangement will facilitate and promote trade in exhibition and trade fairs, financial services, investment, tourism, rail, maritime and logistics transportation, and food-safety measures. Both countries will also benefit from a possible reduction in the taxes relating to trade.
The FTA will also cover co-operation in intellectual property rights, customs and competition-related matters, as well as technical assistance and capacity-building in areas of mutual interest.
Lau also held a meeting with Chile's General Director of International Economic Affairs Carlos Furche. Both sides agreed to set up a joint feasibility study group to examine the proposal of entering into a Hong Kong-Chile FTA.
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