The Peru-Singapore Free Trade Agreement ("PeSFTA") was signed in Lima, Peru on 29 May 2008 by Singapore's Minister for Trade and Industry Mr Lim Hng Kiang and Peru's Minister for Foreign Trade and Tourism Ms Mercedes Araoz. Negotiations were first launched on 19 November 2004 on the sidelines of the APEC Leader's Economic Meeting in Santiago (Chile) and the agreement was concluded in September 2007.