Hong Kong and Peru have officially signed a Free Trade Agreement (FTA). Sunny Ho, Executive Director of the Hong Kong Shippers' Council, believes that Hong Kong's port has advantages over nearby ports, particularly in terms of density and shipping routes, and strengthening cooperation with Peru will help Hong Kong consolidate these advantages.
He anticipates that markets such as ASEAN and South America will become major development areas for the shipping industry, with growth rates exceeding those of traditional markets and significant potential.
Ho also stated that in the first nine months of this year, Hong Kong's container terminal throughput recorded a double-digit decline, causing its global ranking to drop from 10th last year to 13th.
He pointed out that due to economic weakness, many shipping companies are restructuring their routes, and he expects Hong Kong's terminal throughput to continue facing pressure."The local shipping industry should develop more professional services, including ship financing, arbitration, and green shipping. Additionally, with the activation of the airport's third runway system, significant growth is expected in the air cargo sector."
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