Peru and Hong Kong Consolidate Their Trade Alliance
Legislative Decree No. 1644 amended Law No. 31557, the law regulating the operation of remote gaming and remote sports betting, to complement the regulation of its tax collection and optimize its application.
As part of the APEC agenda, Peru and Hong Kong signed the FTA after several years of negotiations that began in 2022.
The FTA will be a broad and ambitious agreement covering trade in goods, trade in services, investment, intellectual property, among other topics, to provide a stable legal and commercial framework for Peruvian exporters and investors, ensuring non-discriminatory treatment that will attract investment from Hong Kong to Peru and vice versa.
Among the chapters negotiated in the trade agreement are commitments on cross-border trade in services, allowing Peruvian companies to export services to Hong Kong without being required to have a presence in that economy. This benefits sectors such as design, business services, and applications, among others.
Without a doubt, once the FTA comes into effect, many importers and exporters will benefit, creating strong commercial ties that represent significant growth opportunities, along with a customs authority that facilitates trade.
As always, at Thorne, Echeandía & Lema Abogados, we welcome any questions, comments, or additional clarifications you may have regarding the legal and customs impact of the information contained in this newsletter. If so, please do not hesitate to contact our Foreign Trade and Customs team:
José Luis Sorogastúa Ruffner
