The \u201cFree Trade Agreement between the Republic of Peru and Hong Kong, China\u201d aims to establish a free trade area that strengthens economic integration between the Parties, liberalizes trade and investment, removes barriers to trade, and provides a predictable legal and commercial framework.\n\nIt also seeks to facilitate trade through efficient, transparent, and predictable customs procedures.<\/p>\n
With respect to trade in goods, the Agreement provides for the elimination of customs duties applicable to originating goods of the Parties, in accordance with their respective tariff commitment schedules.\n\nIn particular, Hong Kong, China will eliminate, as from the entry into force of the Agreement, the customs duties applicable to goods originating in Peru classified under Chapters 1 through 97 of the Harmonized System, while Peru will apply different tariff reduction categories according to the tariff lines set out in Annex 2-B.<\/p>\n
Likewise, rules of origin and procedures are established for obtaining preferential tariff treatment, including the use of a Certificate of Origin.\n\nAccordingly, an importer claiming preferential treatment must make the corresponding declaration in the customs import declaration and hold a valid Certificate of Origin. Where applicable, the importer may also request a refund of customs duties paid in excess.<\/p>\n
With respect to customs matters, the Agreement establishes measures aimed at simplifying clearance and release procedures, including the advance electronic processing of information and, to the extent possible, the release of goods within 48 hours of their arrival.\n\nIt also provides for measures to facilitate express shipments, the publication of information on customs procedures, and the exchange of information between the customs administrations.<\/p>\n
Accordingly, the Agreement was signed on November 15, 2024, and ratified by Supreme Decree No. 030-2026-RE on July 14, 2025, entering into force, together with the Side Letter on Professional Services, on September 1, 2026.<\/p>\n