Hong Kong Business News

Secretary for Commerce & Economic Development Algernon Yau today officiated at the official opening ceremony of the Hong Kong Economic and Trade Office (ETO) in Kuala Lumpur during his visit to Malaysia.

The opening marks a significant milestone in deepening partnerships between Hong Kong and Malaysia, and the Association of Southeast Asian Nations (ASEAN) as a whole.

Addressing the opening ceremony, Mr Yau highlighted the strategic importance of this office, which is the 15th overseas ETO of the Hong Kong Special Administrative Region Government and the fourth in the ASEAN region.

Mr Yau noted that ASEAN stands firmly as Hong Kong's second-largest trading partner in goods while Malaysia is the city's eighth largest trading partner. He added that the new ETO shoulders the responsibility of deepening Hong Kong's economic, trade and investment ties with this strategically important region and strengthening the city’s presence in it.

The geographical coverage of the Kuala Lumpur ETO includes Malaysia, Brunei Darussalam, Laos and Pakistan.

Mr Yau also led a business delegation to attend the "Think Business, Think Hong Kong" symposium and luncheon organised by the Hong Kong Trade Development Council (HKTDC).

The business delegates, including representatives from Mainland enterprises looking to go global, Hong Kong chambers of commerce and other organisations, held exchange sessions with the Malaysia Digital Economy Corporation and local chambers to gain a deeper understanding of the situation and needs of the Malaysian market.

Speaking at the symposium, Mr Yau said that amid the profound transformation in the global economy characterised by geopolitical tensions, supply chain realignments and technological changes, Hong Kong, with its core strengths, can be Malaysia's partner to navigate the increasingly complex external environment.

He noted that Hong Kong's unique strength lies not only in its robust infrastructure or business-friendly policies, but also in its unmatched connectivity with the Mainland and the rest of the world, empowering Hong Kong to serve the Malaysian business community as a “super connector” and “super value-adder”.

Mr Yau said that Malaysian businesses can readily gain access to the Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, via Hong Kong. Concurrently, the Hong Kong SAR Government’s Task Force on Supporting Mainland Enterprises in Going Global provides one-stop, customised services to help Mainland firms invest directly in overseas markets like Malaysia, creating a win-win outcome.

He identified new opportunities for bilateral collaboration in innovation, technology and green development, noting that Hong Kong and Malaysia are strategic partners in shaping future economies.

During the event, Mr Yau witnessed the signing of Memorandums of Understanding between four Hong Kong media organisations and Malaysian media and other organisations to foster new partnerships. The HKTDC also signed agreements with local chambers of commerce and related institutions to strengthen collaboration.