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) began its visit to Astana, Kazakhstan on June 1. During the visit, 43 memoranda of understanding (MoUs) and announcements were signed, spanning trade and commerce, investment, financial services, technology, aviation, and green finance. These agreements aim to enhance trade, economic, and industrial cooperation among Hong Kong, the Chinese mainland, and Kazakhstan, leveraging Hong Kong's role as a two-way services platform to support enterprises in Central Asia.
The delegation will conclude its Kazakhstan visit and proceed to Uzbekistan to further explore business cooperation under the Belt and Road Initiative. To promote collaboration, the HKSAR government and HKTDC hosted a business luncheon attended by over 300 business leaders and senior officials.
Chief Executive John Lee highlighted Kazakhstan's historical role as a bridge between Eastern and Western civilizations, calling it a business and logistics hub linking China and Europe. He emphasized Hong Kong's role in the Belt and Road Initiative and expressed interest in working with Kazakhstan to create mutual opportunities.
HKTDC Chairman Prof Frederick Ma noted Kazakhstan's status as the largest economy in Central Asia, accounting for 53% of the region's GDP in 2025. Under the Kazakhstan 2050 Strategy, the country aims to become one of the world's top 30 developed economies by 2050. Ma underscored the potential for cooperation in logistics infrastructure, green finance, digital economy, and agriculture.
The delegation included 70 business leaders from Hong Kong and representatives from 17 Chinese mainland provinces, 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 joined to help tell Hong Kong's story overseas.
During the visit, the delegation met with key Kazakh entities including the National Chamber of Entrepreneurs 'Atameken', Baiterek National Investment Holding, Halyk Bank, and Samruk-Kazyna. They also visited Astana Hub and the Astana International Financial Centre (AIFC) to learn about Kazakhstan's innovation and financial developments.
Key MoUs included agreements between HKTDC and Atameken, HKTDC and AIFC, Airport Authority and Almaty International Airport, Hong Kong Exchange and Clearing Limited and AIFC, and Cyberport and Astana Hub. Others involved BOCHK and Baiterek, Standard Chartered Bank and Development Bank of Kazakhstan, and Cathay Pacific and Almaty International Airport.
According to available data, Kazakhstan's GDP is projected to grow 4.6% in 2026 to around US$360.5 billion, maintaining its position as Central Asia's largest economy. Uzbekistan's GDP is forecast to grow 6.5% to US$181.5 billion. The IMF projects GDP growth for Central Asia and the Caucasus at 6.2% in 2025 and 4.8% in 2026, above the global average of 3.1%.
The visit underscores Hong Kong's strategic role as a superconnector and super value-adder, facilitating cooperation between mainland enterprises and Central Asian markets under the Belt and Road Initiative.
