I recently joined Chief Executive John Lee Ka-chiu’s business delegation on a successful visit to Kazakhstan and Uzbekistan. The trip was highly fruitful and has significantly boosted my confidence in Hong Kong’s prospects in the Central Asian market.
Kazakhstan, the birthplace of the Belt and Road Initiative, possesses enormous development potential. As a “super connector” and “super value-adder,” Hong Kong is well-positioned to play a pivotal role in the region.
A major highlight was the agreement to accelerate negotiations on a comprehensive Double Taxation Avoidance Agreement with Kazakhstan.
Cathay Pacific also plans to launch direct flights to Almaty in the first quarter of next year. Similar progress was made with Uzbekistan, where both sides agreed to advance an Air Services Agreement, paving the way for direct flights.
These new routes will greatly reduce travel time and costs, boosting business and people-to-people exchanges.
The delegation of over 70 representatives achieved remarkable results, signing a record 96 cooperation agreements and MoUs worth over US$1.65 billion (HK$12.87 billion).
These cover finance, innovation and technology, digital economy, education, and investment protection.
Key outcomes include extending visa-free periods to 30 days with Uzbekistan and deepening collaboration in smart manufacturing and logistics.
During the visit, I introduced the Northern Metropolis blueprint, especially the Hung Shui Kiu Industrial Park, backed by a HK$10 billion government investment. Central Asian countries, rich in mineral, agricultural, and energy resources, are eager for Hong Kong’s expertise in financial services, fintech, and smart city development.
Chief Executive Lee also expressed interest in establishing Economic and Trade Offices in Central Asia and confirmed that this visit was the first by the new “Mainland Enterprises Going Global” task force.
Hong Kong can help mainland enterprises expand overseas through our professional networks, financing channels, and offshore RMB hub.
This visit is just the beginning. By seizing this historic opportunity with determination and flexibility, Hong Kong will sail into broader blue oceans of opportunity.
The Honorable Jeffrey Lam Kin-fung is a non-official member of the Executive Council and chairman of the Vocational Training Council
