The HKGCC has strengthened Hong Kong’s business links with Central Asia through the signing of Memorandums of Understanding (MoUs) with leading business organisations in Kazakhstan and Uzbekistan. These agreements mark an important step in expanding commercial opportunities and fostering closer relationships between Hong Kong and two of the region’s most promising markets.
The signings formed a key part of Chief Executive John Lee’s high-level business delegation to Kazakhstan and Uzbekistan. As the largest outbound mission of its kind under the current term of Government and covering the broadest range of enterprises to date, the visit marked a pivotal moment for Hong Kong’s efforts to explore emerging markets to amplify trade and investment cooperation.
Central Asia is a strategically important region under the Belt and Road Initiative, which was first unveiled by President Xi Jinping in Kazakhstan in 2013 at Nazarbayev University in Astana. Rich in natural resources and undergoing rapid economic transformation, the region is generating growing demand for modern infrastructure, logistics, and digital economy solutions. As the region’s largest economy and a key logistics hub, Kazakhstan is already Hong Kong’s largest trading partner in Central Asia, presenting significant collaborative opportunities through its ambitious development plans and Digital Qazaqstan Initiative.
Meanwhile, Uzbekistan, the region’s most populous country and a recognised leader in economic reform, offers vast consumer market potential through its Digital Uzbekistan 2030 Strategy and evolving IT Park ecosystem. Both nations also possess abundant gold reserves, aligning with Hong Kong’s goals to develop as an international gold trading centre.
The delegation’s outreach yielded substantial results, securing cooperation agreements and MoUs worth more than US$1.65 billion. As part of the mission, HKGCC, represented by Council Member Jeffrey Lam, signed an MoU with the National Chamber of Entrepreneurs of the Republic of Kazakhstan (Atameken) in Astana on 2 June, followed by a second agreement with the Chamber of Commerce and Industry of Uzbekistan in Tashkent on 4 June.
These MoUs are designed to facilitate business opportunities through trade, technical, and economic cooperation. By promoting the exchange of market intelligence and investment information, they aim to build robust business-to-business relationships and open new investment frontiers for Hong Kong’s innovation and technology, financial services, and manufacturing sectors. Notably, the agreement with Uzbekistan establishes the joint Uzbekistan-Hong Kong Business Council, creating a structured platform and an actionable roadmap for Hong Kong enterprises.
Hong Kong is uniquely positioned to support Central Asian nations in their ongoing modernisation. The city’s expertise in legal and arbitration services, RMB settlement and green finance can help address institutional gaps in the region, embodying the Belt and Road Initiative’s increasing emphasis on connectivity through institutional synergy, sustainability and digital transformation.
By leveraging these advantages, Hong Kong reinforces its role as a super connector and super value-adder. The city provides an effective gateway for Central Asian enterprises seeking access to the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN markets, while Hong Kong businesses can leverage Central Asia’s Trans-Caspian International Transport Route to expand into markets across Europe and Asia along the New Silk Road.
Beyond commerce, the visit also opened the door to closer people-to-people connections between the regions. Travelers can look forward to direct passenger flights between Hong Kong and Almaty, Kazakhstan, starting in the first quarter of 2027, with similar flight options to Uzbekistan currently under discussion. To make business and travel smoother, work is underway on tax and investment protection agreements, alongside mutual visa-free arrangements with Uzbekistan. Closer to home, Hong Kong is looking to welcome more Central Asian students to its universities, building the kind of cultural and talent bonds that keep partnerships thriving for years to come.
Ultimately, the mission to Kazakhstan and Uzbekistan has laid a strong foundation for future cooperation, creating a promising pipeline of commercial agreements. By engaging with this emerging frontier, Hong Kong continues to demonstrate its role as a global gateway connecting businesses to new opportunities. The focus now turns to turning these initial agreements into tangible, long-term collaborations.