Hong Kong-ASEAN collaboration goes into top gear

Links between Hong Kong and Southeast Asia are strengthening, as both balance the recovery from the COVID-19 pandemic with global challenges posed by supply chain interruptions, inflationary pressures and geopolitical tensions.

The Hong Kong Trade Development Council (HKTDC)-organised delegation, led by Hong Kong Special Administrative Region (HKSAR) Chief Executive Mr John Lee and accompanied by principal officials concluded a week-long visit to Singapore, Indonesia and Malaysia last Friday.

High-powered delegation

More than 30 senior executives from Hong Kong`s leading chambers, organisations, enterprises and conglomerates joined the delegation to expand networks, discuss collaboration opportunities and strengthen business ties to attract investment and talent

Delegates and representatives of the three ASEAN markets signed more than 30 MoUs signalling closer cooperation based on a shared vision of prosperity and development in Asia.

Delegation members signed seven MoUs in Singapore, 15 in Indonesia and 11 in Malaysia. The MoUs signed in Malaysia included one between the HKTDC and the country`s trade promotion agency MATRADE, as well as one between the HKTDC and the National Chamber of Commerce and Industry of Malaysia.

Speaking at a luncheon with the Malaysian business community in Kuala Lumpur on the last day of the visit, Mr Lee pointed out that Malaysia's economic performance was most encouraging, with its GDP growing 8.7% in 2022, the highest growth recorded in decades. For the ASEAN bloc, economic growth was forecast to be 4.6% this year.

[These figures speak a simple truth – that the world's economic centre of gravity is moving eastwards. And it is crucial for us to do all we can in capitalising on this trend of robust growth in our region," Mr Lee said.

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