The Free Trade Agreement between Peru and Hong Kong entered into force on September 1, 2026. This marks a new phase in trade relations for both markets. The agreement facilitates the movement of goods and services and establishes binding rules for companies trading between Peru and Hong Kong. For Peru, the agreement is also another step towards expanding economic relations with the Asia-Pacific region.
Peru-Hong Kong Free Trade Agreement in force since September 1
Peru and Hong Kong signed the Free Trade Agreement after several years of negotiations. Following the completion of the necessary procedures, September 1, 2026, was set as the effective date. The Peruvian customs and tax authority SUNAT prepared for the implementation before the deadline and published guidelines for the application of the agreed customs preferences.
As of September 1, it is no longer a planned agreement. The agreed regulations are in force and can be applied by companies, provided that the respective conditions are met. For importers and exporters, this marks the practical implementation of the Free Trade Agreement.
What does the Free Trade Agreement regulate?
The Peru-Hong Kong Free Trade Agreement is not limited to the reduction of individual tariffs. It contains regulations for trade in goods, services, investments, and electronic commerce. In addition, there are provisions on rules of origin, customs procedures, and other trade-related regulations.
An important component is preferential market access for goods that meet the agreed rules of origin. Companies must therefore be able to prove that their products meet the corresponding requirements. Only then can the concessions provided for in the agreement be claimed for imports.
Why Hong Kong is interesting for Peru
Hong Kong is one of Asia's leading trade, financial, and logistics centers. For Peruvian companies, therefore, it is not only the size of the local sales market that is interesting. Hong Kong also plays an important role as a trade hub and a link to other markets in Asia.
For many years, Peru has pursued a strategy of expanding its economic relations with the Asia-Pacific region. The country has been a member of the Asia-Pacific Economic Cooperation (APEC) since 1998 and already has trade agreements with several important partners in the region. These include China, Japan, South Korea, and Singapore, among others. The new agreement with Hong Kong expands this economic network.
New opportunities for Peruvian exporters
Different sectors of the Peruvian economy can benefit from the improved trading conditions. Peru exports agricultural products, fisheries products, raw materials, textiles, and processed foods internationally, among other things. For companies, the amount of a possible import duty is not the only decisive factor. Transparent procedures, clear rules of origin, and uncomplicated customs processes are just as important.
Especially for smaller and medium-sized companies, access to a distant market remains challenging. Transport costs, logistics, certifications, and different market requirements do not disappear with a free trade agreement. However, the agreement creates a binding framework that can simplify trade and provide companies with more planning security.
Services and digital trade are included
International trade has long ceased to consist exclusively of physical goods. Services and digital business models have gained considerable importance. The Peru-Hong Kong Free Trade Agreement takes this development into account and therefore also contains regulations for services and electronic commerce.
This is particularly relevant due to Hong Kong's position as an international financial, trade, and service center. For Peru, therefore, it is not just about creating additional sales opportunities for traditional export products. Companies in the service sector and providers of digital services can also benefit from clearer economic framework conditions.
Peru strengthens its trade relations with Asia
Asia already plays a major role in the Peruvian economy. China, in particular, has been one of the country's most important trading partners for years. At the same time, Peru is trying to broaden its economic relations within the region and gain additional trading partners.
The Peruvian Pacific coast is also gaining importance as a connection between South America and Asia. Investments in ports, transport routes, and logistics are changing the possibilities of international trade in goods. The free trade agreement with Hong Kong complements this development with another trade policy building block.
What changes since September 1, 2026?
With the entry into force, the trade preferences agreed in the agreement can actually be applied. However, this does not mean that every good can automatically be traded duty-free between Peru and Hong Kong. The decisive factors are the respective product group, the planned customs regulations, and the agreed rules of origin.
Importers and exporters must therefore check which specific conditions apply to their goods. Proof of origin is particularly important if a concession provided for in the agreement is to be claimed. SUNAT provides information on the practical application of the corresponding customs regulations.
Significance for Peru's economy
How strongly the trade volume between Peru and Hong Kong will grow as a result of the new agreement cannot yet be assessed immediately after its entry into force. Such effects usually only become apparent over a longer period. It will be crucial to what extent Peruvian and Hong Kong-based companies actually take advantage of the new opportunities.
Strategically, Peru is expanding its network of international trading partners with the agreement and at the same time strengthening its economic focus on the Asia-Pacific region. For Peruvian companies, additional opportunities arise for goods, services, and digital offerings. Since September 1, 2026, the corresponding trade policy framework has been available for this.
Frequently asked questions about the Peru-Hong Kong Free Trade Agreement
When did the Free Trade Agreement between Peru and Hong Kong come into force?
The Free Trade Agreement between Peru and Hong Kong entered into force on September 1, 2026. Since this date, the regulations provided for in the agreement can be applied.
Who can benefit from the Free Trade Agreement?
Companies that offer goods or services between Peru and Hong Kong, among others, can benefit. The specific advantages depend on the respective product or service and the provisions of the agreement.
Are all goods between Peru and Hong Kong now duty-free?
No. The treatment depends on the respective product group, the agreed customs regulations, and the rules of origin. Companies must meet the respective requirements to be able to use the intended customs concessions.
Why is Hong Kong economically interesting for Peru?
Hong Kong is an important Asian trade, financial, and logistics center. For Peru, closer economic cooperation offers additional sales opportunities and at the same time strengthens trade relations with the Asia-Pacific region.
What role does SUNAT play?
The Peruvian customs and tax authority SUNAT is responsible for the practical application of Peruvian customs regulations. It provides information on the application of customs preferences and the corresponding procedures.
Sources
Ministerio de Comercio Exterior y Turismo (MINCETUR)
Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT)
Portal de Acuerdos Comerciales del Perú
Image source: Commerce and Economic Development Bureau, Hong Kong SAR Government – Signing of the Hong Kong-Peru Free Trade Agreement, Lima, November 15, 2024
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