A business delegation led by Hong Kong Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) signed 43 memoranda of understanding (MoUs) and announcements during a visit to Astana, Kazakhstan, from June 1. The agreements span trade, investment, financial services, technology, aviation, and green finance, aiming to bolster economic cooperation among Hong Kong, mainland China, and Kazakhstan. The delegation, comprising 70 business leaders from Hong Kong and representatives from 17 mainland provinces, highlights Hong Kong's role as a two-way services platform under the Belt and Road Initiative.
The HKTDC and the HKSAR government co-hosted a business luncheon attracting over 300 officials and executives. Speaking at the event, Chief Executive John Lee emphasized Kazakhstan's historical role as a bridge between civilizations and its modern position as a logistics hub linking China and Europe. He noted Kazakhstan's economic diversification under the Kazakhstan 2050 Strategy, which targets becoming one of the world's top 30 developed economies by 2050. HKTDC Chairman Prof Frederick Ma highlighted Kazakhstan's 53% share of Central Asia's GDP in 2025 and its growth potential, particularly in logistics, green finance, digital economy, and agriculture.
The delegation met with key Kazakh entities, including the National Chamber of Entrepreneurs 'Atameken', Baiterek National Holding, Halyk Bank, and Samruk-Kazyna. They also visited Astana Hub and the Astana International Financial Centre (AIFC) to explore innovation and financial services. Notable MoUs include agreements between the HKTDC and Atameken, the Airport Authority and Almaty International Airport, and the Hong Kong Exchange and Clearing Limited with AIFC and AIX. Other signatories include BOCHK, Cathay Pacific, PCCW, and Standard Chartered Bank, covering areas from aviation to digital development.
For the first time, journalism associations such as The Newspaper Society of Hong Kong joined the delegation, aligning with the Policy Address to expand overseas media networks. The visit also saw non-delegation MoUs in academia and culture, involving institutions like City University of Hong Kong and Nazarbayev University. The delegation will proceed to Uzbekistan to further explore trade opportunities under the Belt and Road Initiative.
Kazakhstan's GDP is projected to grow 4.6% in 2026 to $360.5 billion, while Uzbekistan's GDP is expected to rise 6.5% to $181.5 billion. The IMF forecasts Central Asia and the Caucasus to grow 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%. These agreements underscore Hong Kong's strategic position in facilitating mainland and international enterprises' access to Central Asian markets. For more information, visit HKTDC.
