10th Belt and Road Summit Drives Global Collaboration with 33 Signed Agreements

The Belt and Road Summit, jointly organised by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council, opened today at the Hong Kong Convention and Exhibition Centre, marking its 10th edition under the theme Collaborate for Change • Shape a Shared Future. The summit has convened over 90 key officials and business leaders from 16 Belt and Road countries and regions, demonstrating its continued importance as a platform for international economic cooperation and partnership building.

On the first day alone, 33 Memoranda of Understanding were signed, covering projects in multiple countries including Australia, Indonesia, Kazakhstan, Malaysia, Qatar, and the UAE across sectors such as finance, infrastructure, and technology. This significant number of agreements underscores Hong Kong's role as what Chief Executive John Lee described as a "super connector" and "super value-adder" for high-quality collaborations worldwide. Lee emphasized that Hong Kong's unique position as the only world city that converges both the China advantage and the global advantage makes it the ideal Belt and Road hub.

The Policy Dialogue session, themed Embracing Emerging Opportunities in Times of Economic Uncertainty, featured key government officials from Kazakhstan, Malaysia, Qatar, Saudi Arabia, and Uzbekistan discussing the latest Belt and Road policies and opportunities for multilateral cooperation. This dialogue is particularly important given current global economic challenges, as it provides a platform for nations to coordinate responses and identify new growth areas. The session was hosted by Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR, and included discussions on enhancing multilateral economic cooperation.

A new Signature Belt and Road Projects Session was introduced this year to present major infrastructure projects, while the Project Investment Session featured a new segment themed Middle East & ASEAN Market Focus. These new sessions reflect the evolving nature of Belt and Road cooperation and the increasing importance of these regions in global economic development. The summit's website at https://www.beltandroadsummit.com/conference/bnr/en provides comprehensive information about the event and its programming.

The Keynote Luncheon featured Renat Bekturov, Governor of Astana International Financial Center, who shared insights into how tangible cooperation between Kazakhstan and Hong Kong has come to fruition. Bekturov announced the creation of the Turkic Green Finance Council, emphasizing that "finance must be responsible, transparent and forward-looking" and highlighting Hong Kong's leadership in sustainable finance. He noted that by joining forces with Hong Kong, trillions of dollars of green capital can be channeled into Belt and Road projects that are both profitable and sustainable.

Chinese officials, including Yan Dong, Vice Minister of the Ministry of Commerce, emphasized continued support for Hong Kong's role in the initiative. Yan Dong stated that the Ministry of Commerce will implement the revisions on the Second Agreement Concerning Amendment to CEPA Agreement on Trade in Services, which took effect in March this year, further expanding mainland China's opening-up in areas such as finance, telecommunications, construction, and tourism. This commitment reinforces Hong Kong's position as a bridge for facilitating connectivity in infrastructure, trade, and finance under the Belt and Road Initiative.

The summit features an extensive exhibition area across five distinct zones, including a new ASEAN Zone focusing on projects from the ten member states, a Hong Kong Zone showcasing local service providers, a Global Investment Zone presenting large-scale investment opportunities, an InnoTech Zone displaying cutting-edge innovations, and a Mainland Zone highlighting developments in infrastructure and advanced manufacturing. The event's programme details can be found at https://www.beltandroadsummit.com/conference/bnr/en/programme, providing attendees with comprehensive scheduling information.

With more than 300 investment projects showcased and over 800 one-to-one project matching meetings expected, the summit continues to serve as a critical platform for transforming the Belt and Road Initiative into tangible economic cooperation. The signing of numerous agreements and the high-level participation from multiple countries demonstrate the ongoing relevance and importance of this initiative in fostering international collaboration and economic development across participating nations.