A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) visited Astana, Kazakhstan, on June 1, signing 43 memoranda of understanding (MoUs) and announcements. The agreements span trade and commerce, investment, financial services, technology, aviation, and green finance, aiming to bolster economic cooperation among Hong Kong, Mainland China, and Kazakhstan, and to leverage Hong Kong's unique role as a two-way services platform.
During a business luncheon hosted by the HKSAR Government and the HKTDC, Chief Executive 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 noted, “Kazakhstan is a regional economic powerhouse, and Hong Kong looks forward to working with Kazakhstan in creating mutual opportunities.” HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan's economic diversification under its Kazakhstan 2050 Strategy, which aims to become one of the world's top 30 developed economies by 2050. He stated, “This visit has enhanced local enterprises’ understanding of Hong Kong’s advantages as a superconnector and super value-adder.”
The delegation comprises 70 business leaders from Hong Kong and representatives from 17 Chinese Mainland provinces and municipalities, covering sectors such as financial services, logistics, innovation and technology, green industries, energy, and biopharmaceuticals. For the first time, journalism associations, including The Newspaper Society of Hong Kong and the Hong Kong News Executives’ Association, joined to support the Policy Address initiative for local media to expand overseas networks and tell Hong Kong's story.
Key MoUs include agreements between the HKTDC and Kazakhstan’s National Chamber of Entrepreneurs 'Atameken', the Astana International Financial Centre (AIFC), and Satbayev University. Other notable signings involve the Airport Authority and Almaty International Airport, Hong Kong Exchange and Clearing Limited and AIX, and Cyberport and Astana Hub. Financial institutions like BOCHK, Standard Chartered Bank, and China International Capital Corporation also signed deals covering investment and green finance.
The delegation met with senior representatives from government bodies, chambers of commerce, and major corporations, including Halyk Bank and Samruk-Kazyna. They visited Astana Hub and the AIFC to learn about Kazakhstan's innovation and financial developments.
Kazakhstan’s GDP is projected to grow by 4.6% in 2026 to about US$360.5 billion, maintaining its position as Central Asia's largest economy. Uzbekistan’s GDP is forecast to grow by 6.5% to about US$181.5 billion. The IMF forecasts Central Asia and the Caucasus GDP growth at 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%.
The delegation's visit underscores Hong Kong's strategic role in the Belt and Road Initiative, linking Mainland enterprises with Central Asian opportunities. The MoUs signed are expected to foster collaboration in logistics, green finance, digital economy, and agriculture. More details on the agreements can be found at this link.
