Hong Kong Business Delegation Signs 96 MoUs in Central Asia, Strengthening Belt and Road Ties

A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) concluded its Central Asia tour, signing 96 memoranda of understanding (MoUs) and agreements during stops in Kazakhstan and Uzbekistan. The delegation, comprising 75 business leaders from Hong Kong and mainland China, sought to deepen economic ties and explore opportunities under the Belt and Road Initiative.

The agreements spanned sectors including trade, investment, finance, technology, and aviation. Among the 66 MoUs signed by delegation members, 15 were at the government level, while non-delegation entities signed an additional 15 in areas like academia and culture. Notable signatories included the Airport Authority Hong Kong, which inked deals with Almaty International Airport and Fly Khiva Group, and the Hong Kong Exchange and Clearing Limited, which partnered with the Astana International Exchange and the Astana International Financial Centre.

During the Uzbekistan leg, the delegation met with senior officials from the Ministry of Investment, Industry and Trade, the Chamber of Commerce, and IT Park Uzbekistan. The government of Uzbekistan agreed to establish a Consulate General in Hong Kong, underscoring the strengthening bilateral ties. Lee highlighted eight major outcomes from the visit, including enhanced government-to-government relations and a hub-to-hub cooperation model that connects Hong Kong with Central Asian markets.

“The purpose of this visit is threefold: to explore emerging markets, strengthen government relations, and establish a hub-to-hub cooperation model,” Lee said. He noted that both sides agreed to increase high-level mutual visits and support each other’s promotional activities.

HKTDC Chairman Prof. Frederick Ma emphasized Hong Kong’s role as a bridge under the Belt and Road Initiative. “Hong Kong serves as a key springboard for mainland enterprises to go global and a gateway for overseas enterprises to enter the mainland market,” Ma said at a business dinner in Uzbekistan attended by 230 leaders. He highlighted the HKTDC’s global network and Hong Kong’s institutional strengths in facilitating two-way investment.

The delegation included representatives from 17 mainland provinces and municipalities, as well as journalism associations—a first for such missions, aligning with the Policy Address to expand media networks. Agreements in Kazakhstan also involved Cyberport and Astana Hub, and the Hong Kong Science and Technology Parks with Astana Hub, fostering innovation and technology collaboration.

Key corporate deals included partnerships between Standard Chartered Bank and the Development Bank of Kazakhstan, and between BOCHK and Samruk Kazyna. In Uzbekistan, agreements covered sectors from energy to pharmaceuticals, such as a pact between Guangzhou Pharmaceutical Holdings and ADN Pharm-Sanoat.

The HKTDC will provide post-mission business matching and support to expedite project implementation. The outcomes are expected to deepen economic ties among Hong Kong, mainland China, Kazakhstan, and Uzbekistan, positioning Hong Kong as a platform for mainland enterprises going global and attracting Central Asian businesses to events like the Belt and Road Summit and InnoEX.

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