The Free Trade Agreement between Peru and Hong Kong comes into effect on September 1, 2026. With this, Peru improves access to an important trade and financial center in Asia.
Both sides have completed the necessary internal procedures. The agreement was already signed on November 15, 2024, during the APEC summit in Lima. Peru ratified it in July 2026.
In addition to trade in goods, the agreement covers services, investments, e-commerce, intellectual property, and economic cooperation.
Free Trade Agreement between Peru and Hong Kong to begin on September 1
As of September 1, 2026, the agreed-upon trade rules will apply. The new conditions for Peruvian exporters are particularly interesting.
Hong Kong commits to granting permanent duty-free access to goods originating from Peru. Companies that already supply agricultural products to Asia, in particular, can benefit from this.
Important Peruvian exports to Hong Kong include blueberries, grapes, and avocados. Traditional export products such as gold also play a significant role.
Peru exported goods worth 237.8 million US dollars in 2025
Peruvian exports to Hong Kong reached a value of 237.8 million US dollars in 2025. Approximately 59.73 percent accounted for non-traditional exports, while traditional goods made up about 40.27 percent.
The agricultural sector was particularly strongly represented. Hong Kong thus developed into an important Asian market for Peruvian food products.
For Peru, the agreement offers the opportunity to further expand these trade relations. The agreed-upon customs rules create predictable conditions for this in the long term.
Goods from Hong Kong also gain better market access
In 2025, Peru imported goods worth approximately 28.6 million US dollars from Hong Kong. These included products from the steel industry, chemical industry, and mechanical engineering, among others.
With the entry into force of the agreement, Peru eliminates tariffs for approximately 98.3 percent of its tariff lines for goods originating in Hong Kong.
For about 91.3 percent of the tariff lines, the abolition is immediate. Another seven percent will gradually become duty-free. Special regulations apply to certain agricultural products.
The agreement also covers services and digital businesses
The Free Trade Agreement between Peru and Hong Kong is not limited to trade in goods. A significant component concerns services and digital business models.
These include information technology, software development, audiovisual offerings, business consulting, and other professional services.
For Peruvian companies, this can facilitate access to the Asian market. Smaller companies, in particular, could offer services without necessarily having to establish their own branch in Hong Kong.
E-commerce is also part of the agreement. This means the agreement takes into account areas whose economic importance has grown significantly since the start of negotiations.
Hong Kong connects Peru with other Asian markets
Hong Kong is one of Asia's leading trade, financial, and logistics centers. Therefore, not only its domestic market is interesting for Peruvian companies.
The location can also serve as a link to other markets in the Asia-Pacific economic region. Peru is thus further expanding its already extensive network of international trade agreements.
Conversely, companies from Hong Kong gain better conditions for doing business in Peru. For them, the Peruvian market can also provide access to other Latin American countries.
The agreement with Peru is Hong Kong's second free trade agreement with a Latin American partner.
Investments between Peru and Hong Kong to be facilitated
Investments are also part of closer economic cooperation. Both sides have also concluded negotiations on a separate agreement for the promotion and protection of investments.
This is intended to offer companies more legal certainty for future investments. The signing will take place after the completion of the necessary internal procedures.
Thus, trade and investment policies complement each other. Goods, services, and capital should be exchanged between both markets under clearer conditions.
From negotiations to entry into force
Negotiations on the Free Trade Agreement between Peru and Hong Kong began in 2022. In May 2024, the broad conclusion was announced on the sidelines of an APEC ministerial meeting.
The signing followed on November 15, 2024, during the APEC summit in Lima. The Peruvian government ratified the agreement on July 15, 2026, with Supreme Decree No. 030-2026-RE.
After the completion of procedures on both sides, September 1, 2026, was set as the effective date.
What the agreement means for Peru
For Peru, the agreement is another building block in its economic relations with the Asia-Pacific region. Particularly the combination of agricultural products, services, and digital business models expands previous trade opportunities.
For producers of blueberries, grapes, and avocados, long-term planning certainty regarding access to the Hong Kong market improves. At the same time, service companies gain better framework conditions for cross-border business.
However, the actual economic impact will only become apparent after its entry into force. The agreement creates the conditions for more trade but does not guarantee an automatic increase in exports.
For Peru, September 1, 2026, is nevertheless an important date. From this day on, the new trade rules between Peru and Hong Kong will apply for the first time.
Frequently Asked Questions about the Peru–Hong Kong Free Trade Agreement
When does the Free Trade Agreement come into force?
The Free Trade Agreement between Peru and Hong Kong comes into force on September 1, 2026. Both sides have completed the necessary internal procedures.
When was the agreement signed?
The signing took place on November 15, 2024, during the APEC summit in Lima. Peru ratified the agreement in July 2026.
What products does Peru export to Hong Kong?
Important export products include blueberries, grapes, and avocados. Traditional export products such as gold also play an important role in trade.
How high were Peru's exports to Hong Kong?
In 2025, Peru exported goods worth approximately 237.8 million US dollars to Hong Kong. Non-traditional products accounted for the larger share.
Will Peruvian goods be duty-free in Hong Kong?
Hong Kong grants permanent duty-free access to goods originating from Peru under the agreement.
Does the agreement exclusively concern goods?
No. The agreement also covers services, investments, e-commerce, intellectual property, and economic cooperation.
Will a direct flight connection be established as a result?
No. The trade agreement does not contain any announcement of a direct flight connection between Peru and Hong Kong.
Sources
Diario Oficial El Peruano, Information on the entry into force of the Peru-Hong Kong Free Trade Agreement, August 2026.
Hong Kong Special Administrative Region Government, Information on the entry into force of the agreement on September 1, 2026.
Trade and Industry Department Hong Kong, Free Trade Agreement between Hong Kong, China and Peru.
Agencia Andina, Information on the ratification of the agreement by Peru, July 15, 2026.
Image source: Commerce and Economic Development Bureau Hong Kong – Meeting on the conclusion of negotiations for the Free Trade Agreement at APEC Peru 2024.
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