HONG KONG -- Customs authorities of the Hong Kong Special Administrative Region (HKSAR) government and Peru on Tuesday signed the Mutual Recognition Arrangement (MRA) on Authorized Economic Operator (AEO) Program.

The MRA with Peru is Hong Kong Customs' first MRA concluded with a customs administration in the South American region, marking a significant step in strengthening trade ties between the two places.

The Hong Kong AEO Program was launched in 2012. The signing of the MRA with Peru brings the number of MRAs ratified between Hong Kong Customs and other customs administrations to 18 in total.

Under the MRA, AEOs from the signatory countries or regions can enjoy reciprocal trade facilitations, including a reduced inspection rate and prioritized clearance.