A business delegation led by Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee and organized by the Hong Kong Trade Development Council (HKTDC) visited Astana, Kazakhstan, starting June 1, resulting in the signing of 43 memoranda of understanding (MoUs) and announcements. The agreements span trade, investment, financial services, technology, aviation, and green finance, reinforcing economic ties among Hong Kong, the Chinese Mainland, and Kazakhstan. The delegation aims to leverage Hong Kong's unique position as a two-way services platform to help enterprises tap into Central Asian opportunities under the Belt and Road Initiative.
During the visit, HKSAR Chief Executive John Lee addressed a business luncheon co-hosted by the HKSAR Government and HKTDC, attended by over 300 business leaders and senior officials. Lee highlighted Kazakhstan's historical role as a bridge between Eastern and Western civilizations and its current status as a business and logistics hub linking China and Europe. He emphasized Hong Kong's commitment to working with Kazakhstan to create mutual opportunities under the Belt and Road Initiative.
HKTDC Chairman Prof Frederick Ma noted that Kazakhstan, as the largest economy in Central Asia, accounts for 53% of the region's GDP. Under its Kazakhstan 2050 Strategy, the country aims to become one of the world's top 30 developed economies by 2050. Ma stated that the visit enhanced local enterprises' understanding of Hong Kong's advantages as a superconnector and super value-adder, predicting substantial cooperation opportunities in logistics, green finance, digital economy, and agriculture.
The delegation comprised 70 business leaders from Hong Kong and representatives from 17 Chinese Mainland provinces, covering sectors including financial services, logistics, innovation and technology, green industries, and media. For the first time, journalism associations such as The Newspaper Society of Hong Kong joined to help tell the Hong Kong story overseas. The delegation met with Kazakh entities including the National Chamber of Entrepreneurs 'Atameken', Baiterek National Investment Holding, Halyk Bank, and Samruk-Kazyna.
Key MoUs were signed between HKTDC and Atameken, HKTDC and Astana International Financial Centre (AIFC), Airport Authority and Almaty International Airport, Hong Kong Exchange and Clearing Limited and AIFC, and between various companies and Kazakh partners. For example, Cathay Pacific signed with Almaty International Airport, and Standard Chartered Bank inked agreements with the Development Bank of Kazakhstan and Hangzhou CIEC Group. These agreements aim to foster collaboration in trade, finance, technology, and infrastructure.
The delegation also visited Astana Hub and the AIFC to learn about Kazakhstan's innovation and financial services developments. According to available data, Kazakhstan's GDP is projected to grow by 4.6% in 2026 to about US$360.5 billion, maintaining its status as Central Asia's largest economy. The IMF forecasts regional GDP growth at 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%. The delegation will next visit Uzbekistan to further explore cooperation under the Belt and Road Initiative.
For more information, visit the HKTDC website: www.hktdc.com/aboutus.
