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Hong Kong Secretary for Commerce and Economic Development Rita Lau (right) and Peruvian Minister of Foreign Trade and Tourism Mercedes Araoz Fernandez signed a Co-operation Arrangement on Trade and Investment Facilitation on November 20. |
On November 20, Hong Kong Secretary for Commerce and Economic Development Rita Lau signed a Co-operation Arrangement on Trade and Investment Facilitation with the Minister of Foreign Trade and Tourism of the Government of the Republic of Peru Mercedes Araoz Fernandez.
The signing ceremony took place at the margins of the Asia Pacific Economic Cooperation’s Ministerial Meeting in Lima, Peru.
Mrs. Lau was pleased that both sides successfully concluded the cooperation arrangement following the signing of the Joint Statement on Strengthening Trade and Economic Relations between the two economies May 30.
“The successful signing of the cooperation arrangement will be instrumental in fostering closer trade and economic ties between the two sides,” she said, adding that the cooperation arrangement laid the foundation for future discussion of a bilateral free trade agreement (FTA) between Hong Kong and Peru.
The Co-operation Arrangement on Trade and Investment Facilitation mainly aims to facilitate and promote bilateral trade in areas such as:
- Exhibition and trade fairs;
- Financial services;
- Investment;
- Tourism;
- Rail, maritime and logistics transportation; and
- Sanitary and phytosanitary measures.
It also covers cooperation between the two economies in areas of intellectual property rights, customs and competition-related matters, as well as technical assistance and capacity building in areas of mutual interest.
Mrs. Lau also held a bilateral meeting November 20 with General Director of International Economic Affairs of Chile Carlos Furche. Both sides have agreed to set up a Joint Feasibility Study Group to examine the proposal of entering into a Hong Kong, China — Chile FTA. The FTA, if signed, will help foster closer economic and trade ties between the two.
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