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Opinion
How Hong Kong’s strengths can help unlock Central Asia’s potential
The deals signed during the chief executive’s trip to Kazakhstan and Uzbekistan underscore the potential economic synergy that can be unleashed
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Dr Eliza C. H. Chan, a practising solicitor in Hong Kong, is a member of Hong Kong's Executive Council and a member of the National Committee of the Chinese People's Political Consultative Conference.
Hong Kong has taken a monumental step forward in expanding its global economic footprint. Last week, Chief Executive John Lee Ka-chiu, leading a high-level business delegation, wrapped up a successful five-day mission to Kazakhstan and Uzbekistan.
This historic visit – marking the first time the chief executive has led a mission to Central Asia – yielded 96 cooperation agreements and memorandums of understanding valued at more than US$1.65 billion. The exceptional results signal a major pivot for Hong Kong.
By unlocking opportunities in Central Asia, a rapidly developing region of vast resources and growing populations, Hong Kong is moving into a new blue ocean of economic growth while firmly cementing its role as the ultimate superconnector and super value-adder for the Belt and Road Initiative.
The sheer volume and value of the deals signed across the two stops underscore the potential economic synergy between Hong Kong and Central Asia. Rather than generic frameworks, the 96 pacts involve commercial and governmental tie-ups across vital sectors such as financial services, including green finance, innovation and technology, aviation and logistics.
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