Hong Kong Business Delegation Signs 43 MoUs in Kazakhstan, Bolstering Central Asia Trade Ties
A Hong Kong-led business delegation signed 43 memoranda of understanding in Kazakhstan, covering sectors from finance to aviation, highlighting Hong Kong's role as a gateway for Chinese and Central Asian cooperation under the Belt and Road Initiative.
A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) has signed 43 memoranda of understanding and announcements during a visit to Astana, Kazakhstan, underscoring Hong Kong's position as a two-way services platform connecting Mainland China with Central Asia. The agreements span trade, investment, financial services, technology, aviation, and green finance, and are expected to deepen economic ties among Hong Kong, the Chinese Mainland, and Kazakhstan.
The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 Chinese provinces, began its visit on June 1. The agreements include partnerships between the HKTDC and Kazakhstan's National Chamber of Entrepreneurs 'Atameken', the Astana International Financial Centre (AIFC), and Satbayev University. Other notable signatories include the Airport Authority of Hong Kong with Almaty International Airport, and Hong Kong Exchanges and Clearing Limited with the Astana International Exchange.
Speaking at a business luncheon attended by over 300 officials and business leaders, John Lee emphasized Kazakhstan's historical role as a bridge between civilizations and its modern status as a logistics hub linking China and Europe. He stated, “Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities.”
Prof. Frederick Ma, Chairman of the HKTDC, highlighted Kazakhstan's economic significance as the largest economy in Central Asia, accounting for 53% of the region's GDP in 2025. He noted the country's Kazakhstan 2050 Strategy aims for it to become one of the world's top 30 developed economies, presenting opportunities in logistics, green finance, digital economy, and agriculture. “Under the Belt and Road Initiative, we believe substantial cooperation opportunities will emerge across various sectors,” Ma added.
The delegation also visited Astana Hub and the AIFC to explore innovation and financial services. The agreements include collaborations in technology, such as between Cyberport and Astana Hub, and between the Hong Kong Science and Technology Parks and Astana Hub. Financial sector deals involve BOCHK, Standard Chartered Bank, and China International Capital Corporation Limited with Kazakh entities like Baiterek and Samruk-Kazyna.
For the first time, representatives from journalism associations, including The Newspaper Society of Hong Kong and the Hong Kong News Executives’ Association, joined the delegation, aligning with the Policy Address to expand media networks overseas. The visit follows previous delegations to Qatar and Kuwait, reinforcing Hong Kong's strategy to leverage its superconnector role. The delegation is set to continue to Uzbekistan to explore further cooperation under the Belt and Road Initiative.
The IMF forecasts Central Asia and the Caucasus GDP growth at 6.2% in 2025 and 4.8% in 2026, outpacing the global average of 3.1%, underscoring the region's potential. The 43 MoUs signal a significant step in strengthening Hong Kong's economic partnerships in Central Asia.