A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) began its visit to Astana, Kazakhstan, on June 1, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. These agreements cover trade and commerce, investment, financial services, technology, aviation, and green finance, aiming to strengthen cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan while leveraging Hong Kong’s unique position as a two-way services platform under the Belt and Road Initiative.
The delegation, which includes 70 business leaders from Hong Kong and representatives from 17 Chinese provinces and municipalities, also features members from journalism associations for the first time, such as The Newspaper Society of Hong Kong and the Hong Kong News Executives’ Association. The visit, which will conclude with a stop in Uzbekistan, underscores Hong Kong’s commitment to exploring business opportunities in Central Asia.
During a business luncheon co-hosted by the HKSAR Government and the HKTDC, Chief Executive John Lee emphasized Kazakhstan’s historical role as a bridge between Eastern and Western civilizations. “Kazakhstan is now a business and logistics hub linking China and Europe,” he said, highlighting the country’s rich resources and rapid economic diversification. “Hong Kong looks forward to working with Kazakhstan in creating mutual opportunities.”
HKTDC Chairman Prof Frederick Ma noted that Kazakhstan is the largest economy in Central Asia, accounting for 53% of the region’s GDP in 2025, and is pursuing the Kazakhstan 2050 Strategy to become one of the world’s top 30 developed economies. “This visit has enhanced local enterprises’ understanding of Hong Kong’s advantages as a superconnector and super value-adder,” Ma said, citing potential collaboration in logistics infrastructure, green finance, digital economy, and agricultural upgrading.
The delegation met with senior representatives from Kazakh entities including the National Chamber of Entrepreneurs ‘Atameken’, ‘Baiterek’ National Investment Holding, Halyk Bank, and Samruk-Kazyna. They also visited Astana Hub and the Astana International Financial Centre (AIFC) to explore developments in innovation, technology, and financial services.
Key MoUs include agreements between the HKTDC and AIFC, the Airport Authority and Almaty International Airport, Cyberport and Astana Hub, and the Hong Kong Exchange and Clearing Limited with AIFC. Other signatories involve major corporations such as BOCHK, Cathay Pacific, PCCW, Standard Chartered Bank, and Walvax Biotechnology. The deals span sectors from digital trading to oncology research, reflecting the breadth of collaboration.
According to available data, Kazakhstan’s GDP is projected to grow by 4.6% in 2026 to about US$360.5 billion, maintaining its status as Central Asia’s largest economy. The IMF forecasts Central Asia and the Caucasus to grow at 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%. This visit builds on previous delegations to Qatar and Kuwait, reinforcing Hong Kong’s role as a platform for Mainland enterprises to go global and tap into Central Asian opportunities.
