New Peru government vows to apply Hong Kong trade deal, but is silent on mainland China
Peru’s new government has pledged to bring its free-trade agreement with Hong Kong into force this year as part of an effort to position the country as a commercial bridge between South America and the Asia-Pacific, even as its first comprehensive policy programme made no direct mention of mainland China or the Chinese-operated Chancay megaport. Prime Minister Luis Galarreta told lawmakers on…
Peru's newly elected government pledged to enforce its free-trade agreement with Hong Kong by the end of 2025, as part of a broader strategy to position the nation as a commercial bridge between South America and the Asia-Pacific region. Prime Minister Luis Galarreta emphasized that commercial openness would remain a core policy under President Keiko Fujimori's administration.
The government's 18-page policy document, however, made no direct mention of mainland China or the Chinese-operated Chancay megaport, despite Peru having recently concluded ratification procedures for an upgraded free-trade agreement with China. The Hong Kong deal, which had been ratified in mid-July, is expected to boost trade in steel, chemical, and metalworking products.
Meanwhile, China remains Peru's largest trading partner, with exports valued at approximately $32 billion annually. The government's silence on China and the Chancay port has raised questions about the administration's approach to its most significant bilateral and megaproject relationships.
Written by urgent.news from Reuters Business via SCMP's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
