Hong Kong to explore striking free-trade deal with more Latin American countries: John Lee

Hong Kong will explore striking a free-trade agreement with more countries in Latin America, the city’s leader has said, revealing a deal recently signed with Peru will take effect in about six months.

Chief Executive John Lee Ka-chiu also began wrapping up his first official visit to South America as the Asia-Pacific Economic Cooperation (Apec) summit drew to a close on Saturday (local time).

A day earlier, Hong Kong signed a free-trade agreement with Peru on the sidelines of the summit.

“The agreement has to go through some legal procedures. I believe it will take half a year, but it will be followed by a variety of opportunities,” Lee said.

“We will consider talks on signing a free-trade agreement with the Pacific Alliance to further explore new growth areas in Latin America.”

The alliance is a regional trade bloc of states that border the Pacific Ocean and comprises Peru, Chile, Colombia and Mexico.