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Industry figures said on Saturday they welcomed the signing of the deal after Hong Kong and Peru both hailed it as a way to create new business opportunities between the two economies and with mainland China.
The deal, signed in Lima on Friday (local time), covers goods and services, as well as investment and other related areas.
The Hong Kong General Chamber of Commerce said the move would help to further expand the city’s business and trade network in Latin America, securing favourable conditions for goods and services to enter more overseas markets.
“Peru’s commitments in trade in services encompass sectors where Hong Kong has distinct advantages and growth potential, such as professional services, computer and related services, research and development, finance and transport services,” the chamber said.
“This will not only facilitate Hong Kong’s key sectors in exploring new markets and opportunities but also promote the development of related industries in Peru, creating mutual benefits for both economies.”