SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur
The Secretary for Commerce and Economic Development, Mr Algernon Yau, on a visit to Malaysia today (August 11) officiated at the official opening ceremony of the Hong Kong Economic and Trade Office in Kuala Lumpur (Kuala Lumpur ETO), marking a significant milestone in deepening partnership between Hong Kong and Malaysia, and the Association of Southeast Asian Nations (ASEAN) as a whole.
The ceremony was held at the newly established permanent office of the Kuala Lumpur ETO. Addressing the opening ceremony, Mr Yau highlighted the strategic importance of the Kuala Lumpur ETO which is the 15th overseas ETO of the Hong Kong Special Administrative Region (HKSAR) Government and the fourth in the ASEAN region.
Noting that ASEAN stands firmly as Hong Kong's second-largest trading partner in goods while Malaysia is the city's eighth largest trading partner, Mr Yau said that the new ETO shoulders the responsibility of deepening Hong Kong's economic, trade and investment ties with and strengthening its presence in this strategically important region. He also expressed gratitude to the Malaysian government for its full support to the establishment of the Kuala Lumpur ETO which commenced operation last December. The geographical coverage of the Kuala Lumpur ETO includes Malaysia, Brunei Darussalam, Laos and Pakistan.
He added that together with the Hong Kong Trade Development Council (HKTDC), Invest Hong Kong and the Hong Kong Tourism Board, the Kuala Lumpur ETO will spearhead the building of closer government-to-government and business-to-business links and step up the facilitation of two-way trade and investment, with a view to creating more opportunities and win-win collaboration in areas of mutual interest.
Other officiating guests included the Minister of Transport, Malaysia, Mr Loke Siew Fook; the Chinese Ambassador to Malaysia, Mr Ouyang Yujing; the Chairman of the HKTDC, Professor Frederick Ma; the Chief of Protocol of the Ministry of Foreign Affairs of Malaysia, Ambassador Ikram Bin Mohd Ibrahim; and the Director of the Kuala Lumpur ETO, Mr Owin Fung.
Earlier in the day, Mr Yau led a business delegation to attend the "Think Business, Think Hong Kong" symposium and luncheon organised by the HKTDC. The business delegates including representatives from Mainland enterprises looking to go global, Hong Kong chambers of commerce and other organisations also had exchange sessions with the Malaysia Digital Economy Corporation and local chambers to gain a deeper understanding of the latest situation and needs of the Malaysian market.
Speaking at the symposium held this morning, 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.
Mr Yau noted that with its tariff-free regime, simple and low tax structure, and robust legal system, Hong Kong, as one of the world's freest economies, provides a business environment with stability, transparency and predictability. He added that in the first two quarters of this year, Hong Kong recorded a Gross Domestic Product growth of 5.9 per cent and 4.3 per cent year-on-year respectively. This bears out the resilience, dynamism and competitiveness of Hong Kong's economy.
He stressed 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 while Malaysian businesses can gain access to the vast Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, via Hong Kong, the Task Force on Supporting Mainland Enterprises in Going Global set up last year by the HKSAR Government provides one-stop, customised support services to Mainland enterprises to facilitate outbound direct investment into overseas markets including Malaysia and beyond, creating a win-win outcome for both countries.
He added that he sees new and exciting opportunities for Hong Kong and Malaysia to collaborate, from innovation and technology, to green and sustainable development, adding that Hong Kong and Malaysia are not just trading partners, but strategic partners in shaping the economies of tomorrow.
On the sidelines of the symposium, Mr Yau and Mr Loke witnessed the signing of Memorandums of Understanding (MOU) between four Hong Kong media organisations and Malaysian media and other organisations to foster new opportunities. They also witnessed the signing of MOUs between the HKTDC and local chambers of commerce and related institutions to strengthen collaboration.
Mr Yau will continue his visit tomorrow.
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
SCED visits Malaysia to attend official opening of Hong Kong Economic and Trade Office in Kuala Lumpur Source: HKSAR Government Press Releases
