Peru Vows to Enact Hong Kong Trade Deal, Omits China from Policy Plan

Peru's new administration has pledged to bring its free-trade agreement with Hong Kong into force this year, signaling an intent to bolster its role as a commercial bridge between South America and the Asia-Pacific region. Prime Minister Luis Galarreta announced the commitment, emphasizing that commercial openness will remain a cornerstone of state policy under President Keiko Fujimori's government.

During an address outlining the government's priorities, Galarreta stated, "During 2026, we will promote the entry into force of the free-trade agreement with Hong Kong, advance new agreements and promote regional exports." He further articulated the long-term objective: "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, maintaining our participation in Apec and other economic blocs."

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During 2026, we will promote the entry into force of the free-trade agreement with Hong Kong, advance new agreements and promote regional exports.

The commitment to the Hong Kong trade deal was the sole explicit reference to the territory in Galarreta's comprehensive 18-page policy program. The document heavily emphasized domestic security, economic growth, infrastructure development, mining investment, and government reform. Notably absent from the program was any direct mention of mainland China or the significant Chinese-operated Chancay megaport, a project seen as crucial for Peru's regional trade ambitions.

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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, maintaining our participation in Apec and other economic blocs.