Hong Kong's Strategic Engagement with South American Companies at APEC in Peru

Hong Kong's Commitment to Trade Enhancement in Peru

As Hong Kong prepares to engage with South American businesses during the Asia-Pacific Economic Cooperation (APEC) summit in Peru, experts highlight significant potential for collaboration. Chief Executive John Lee Ka-chiu plans to sign a free-trade agreement (FTA) to boost trade links between Hong Kong and Peru, focusing on sourcing and technological support.

Key Sourcing Opportunities

Analysts emphasize that Peruvian firms are urgently seeking new suppliers from Asia. Hong Kong's strong supply chain network positions it well to provide sourcing services, particularly in sectors like apparel and electronics.

Utilizing the Chancay Port

• Chancay Port, backed by China's Belt and Road Initiative, offers logistical advantages.
• Trade routes to Asia would be significantly enhanced, cutting freight times and costs.

Given Hong Kong's role as an entrepot, enhancing connections between China and Peru will be vital for maximizing trade potentials. The FTA aims to streamline exports and imports, particularly in electronics and agricultural goods.

Technology and Economic Growth

With Peru's focus on digital transformation, Hong Kong's ICT and fintech sectors can leverage emerging opportunities. The collaboration could foster growth in various industries, bolstering exports of electronics while facilitating imports of agricultural products.

Looking Ahead

As both regions work to deepen ties, Hong Kong's logistical prowess may prove essential. However, experts caution that the port's infrastructure requires improvements to optimize trade efficiency.