Hong Kong Business Delegation Signs 43 MoUs in Kazakhstan, Strengthening Economic Ties Under Belt and Road Initiative

A business delegation led by Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee and organised by the Hong Kong Trade Development Council (HKTDC) visited Astana, Kazakhstan, on 1 June 2026, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. The agreements span trade, investment, financial services, technology, aviation, and green finance, aiming to deepen cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan. The delegation highlights Hong Kong's unique role as a two-way services platform under the Belt and Road Initiative, facilitating enterprises' access to opportunities in Central Asia.

During a business luncheon co-hosted by the HKSAR Government and HKTDC, which attracted over 300 business leaders and senior officials, Chief Executive John Lee emphasised Kazakhstan's historical role as a bridge connecting Eastern and Western civilisations. He noted that Kazakhstan, rich in oil and mineral resources and rapidly diversifying its economy, is a regional economic powerhouse. Lee expressed Hong Kong's eagerness to collaborate with Kazakhstan under the Belt and Road Initiative to create mutual opportunities.

HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan's status as the largest economy in Central Asia, accounting for 53% of the region's GDP in 2025. Under its Kazakhstan 2050 Strategy, the country aims to become one of the world's top 30 most developed economies by 2050. Ma noted that the visit enhanced local enterprises' understanding of Hong Kong's advantages as a superconnector and super value-adder, and that substantial cooperation opportunities exist in logistics, green finance, digital economy, and agriculture.

The delegation comprised 70 business leaders from Hong Kong and representatives from 17 provinces and municipalities across the Chinese Mainland, covering sectors such as financial services, logistics, innovation and technology, trade, green industries, energy, biopharmaceuticals, and automotive. For the first time, representatives from journalism associations, including The Newspaper Society of Hong Kong and the Hong Kong News Executives' Association, joined the delegation in line with the Policy Address's initiative to enable local media to develop overseas networks and tell the Hong Kong story.

During the Kazakhstan visit, the delegation met with senior representatives from government bodies, chambers of commerce, and major corporations, including the National Chamber of Entrepreneurs 'Atameken', 'Baiterek' National Investment Holding, Halyk Bank, and Samruk-Kazyna. They exchanged views on strengthening bilateral trade ties and industrial collaboration. The delegation also visited Astana Hub and the Astana International Financial Centre (AIFC) to gain insights into Kazakhstan's latest developments in innovation, technology, and financial services.

According to available data, Kazakhstan's GDP is projected to grow by 4.6% in 2026, reaching approximately US$360.5 billion, maintaining its status as the largest economy in Central Asia. Uzbekistan's GDP is forecast to grow by 6.5% in 2026, reaching around US$181.5 billion. The IMF forecasts GDP growth for Central Asia and the Caucasus at 6.2% in 2025 and 4.8% in 2026, higher than the global average of 3.1%.

The 43 MoUs and announcements signed during the visit include agreements between HKTDC and Atameken, HKTDC and AIFC, Airport Authority and Almaty International Airport, Cyberport and Astana Hub, Hong Kong Exchanges and Clearing Limited and AIX, and many others covering areas such as trade, finance, technology, aviation, and education. Notable agreements also involve collaboration with Satbayev University, Halyk Bank, and Samruk-Kazyna.

The delegation will conclude its Kazakhstan visit and depart for Uzbekistan to further explore business and trade cooperation among Hong Kong, the Chinese Mainland, and Central Asian countries under the Belt and Road Initiative.