ASTANA, KAZAKHSTAN – A business delegation led by Hong Kong Special Administrative Region Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) began a visit to Astana on June 1, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. These agreements span trade, investment, financial services, technology, aviation, and green finance, aiming to bolster economic cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan.
The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 Mainland provinces and municipalities, is part of broader efforts to leverage Hong Kong's unique position as a two-way services platform. The visit underscores the city's role in supporting enterprises seeking opportunities in Central Asia under the Belt and Road Initiative. Following the Kazakhstan leg, the delegation will travel to Uzbekistan to continue exploring business and trade cooperation.
At a business luncheon 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. "From the port of Khorgos to the Trans-Caspian International Transport Route, Kazakhstan is now a business and logistics hub linking China and Europe," Lee said. "Hong Kong looks forward to working with Kazakhstan in creating mutual opportunities."
HKTDC Chairman Prof Frederick Ma noted that Kazakhstan accounts for 53% of Central Asia's GDP and is pursuing economic diversification under its Kazakhstan 2050 Strategy. "This visit has enhanced local enterprises’ understanding of Hong Kong’s advantages as a superconnector and super value-adder," Ma said. "Under the Belt and Road Initiative, substantial cooperation opportunities will emerge across logistics infrastructure, green finance, digital economy, agricultural upgrading, and food processing."
Among the 43 MoUs signed, notable agreements include partnerships between the HKTDC and the National Chamber of Entrepreneurs 'Atameken', Hong Kong Exchange and Clearing Limited with the Astana International Exchange (AIX) and the Astana International Financial Centre (AIFC), and Cyberport with Astana Hub. The MoUs also cover collaborations in academia, media, and technology, such as agreements between the Hong Kong News Executives’ Association and Khabar Agency JSC, and between City University of Hong Kong and Satbayev University.
The delegation visited the Astana Hub and the AIFC to gain insights into Kazakhstan's latest developments in innovation, technology, and financial services. They also met with senior representatives from government bodies and major corporations, including 'Baiterek' National Investment Holding, Halyk Bank, and Samruk-Kazyna, to discuss strengthening bilateral trade ties and industrial collaboration.
According to available data, Kazakhstan's GDP is projected to grow by 4.6% in 2026, reaching approximately US$360.5 billion, while Uzbekistan's GDP is forecast to grow by 6.5% to about 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, above the global average of 3.1%.
The delegation's visit follows previous trips to Qatar and Kuwait, reinforcing Hong Kong's commitment to fostering economic ties with Central Asia. The inclusion of media representatives from The Newspaper Society of Hong Kong and the Hong Kong News Executives’ Association aligns with the Policy Address’s initiative to enable local media to develop overseas networks and tell Hong Kong's story.
