Hong Kong Secretary for Commerce and Economic Development Frederick Ma and Peruvian Foreign Trade and Tourism Minister Mercedes Araoz Fernandez signed a joint statement on strengthening trade and economic relations in Arequipa, Peru on Friday, a government press release said.

According to a press release from the Information Services Department of Hong Kong Special Administrative Region government, the signing ceremony took place at the margins of the Asia Pacific Economic Co-operation's Ministers Responsible for Trade Meeting in Arequipa.

Ma said both governments had a shared desire and willingness to develop and strengthen bilateral trade and economic relations. The two sides would work towards the development of a co-operation arrangement on trade and investment facilitation. This would lay the foundation for future consideration of a free trade agreement between Hong Kong and Peru.

The arrangement will cover the co-operation initiatives and encouragement of dialogue and information exchange on the areas including facilitation and promotion of trade in goods, facilitation and promotion of trade in services in sectors of mutual interest, facilitation and promotion of investment, co-operation on protection of intellectual property rights, and customs co-operation, the press release said.

(Xinhua News Agency June 1, 2008)