A business delegation led by Hong Kong Chief Executive John Lee and organised by the Hong Kong Trade Development Council (HKTDC) signed 43 memoranda of understanding (MoUs) and announcements during a visit to Astana, Kazakhstan, on 1 June. The agreements span trade, investment, financial services, technology, aviation, and green finance, reinforcing cooperation among Hong Kong, the Chinese Mainland, and Kazakhstan.
Speaking at a business luncheon attended by over 300 leaders and officials, Lee highlighted Kazakhstan's historical role as a bridge between Eastern and Western civilisations and its modern status as a logistics hub linking China and Europe. "Hong Kong, a pivotal player in the Belt and Road Initiative, looks forward to working with Kazakhstan in creating mutual opportunities," he said.
HKTDC Chairman Prof Frederick Ma noted that Kazakhstan is the largest economy in Central Asia, accounting for 53% of the region's GDP in 2025, 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. He expects cooperation in logistics, green finance, digital economy, agriculture, and food processing.
The 70-member delegation includes business leaders from Hong Kong and representatives from 17 Chinese provinces and municipalities, covering financial services, logistics, innovation, trade, green industries, energy, biopharmaceuticals, automotive, and media. For the first time, journalism associations such as The Newspaper Society of Hong Kong and the Hong Kong News Executives' Association joined, aiming to develop overseas networks and tell the Hong Kong story.
Key signings include MoUs between HKTDC and the National Chamber of Entrepreneurs 'Atameken', the Astana International Financial Centre (AIFC), and Satbayev University. Other agreements involve Airport Authority with Almaty International Airport, Cyberport with Astana Hub, and Hong Kong Exchange and Clearing Limited with AIX and AIFC. Notable corporate partnerships include BOCHK with Baiterek and Samruk Kazyna, Cathay Pacific with Almaty Airport, and Standard Chartered Bank with the Development Bank of Kazakhstan.
The delegation also met with senior representatives from 'Atameken', 'Baiterek' National Investment Holding, Halyk Bank, and Samruk-Kazyna to discuss bilateral trade and industrial collaboration. Visits to Astana Hub and AIFC provided insights into Kazakhstan's innovation and financial sectors.
Kazakhstan's GDP is projected to grow 4.6% in 2026 to about US$360.5 billion, maintaining its status as Central Asia's largest economy. Uzbekistan's GDP is forecast to grow 6.5% to US$181.5 billion. The IMF projects Central Asia and the Caucasus GDP growth at 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%.
The delegation will conclude its Kazakhstan visit and proceed to Uzbekistan to further explore cooperation under the Belt and Road Initiative.
