Hong Kong and Uzbekistan strengthen their cooperation as regional economic hubs

Hong Kong's three-day trade mission to Uzbekistan, led by the Chief Executive of the Special Administrative Region, John Lee, ended on June 6 with the signing of 23 agreements in the areas of finance, technology, aviation and investment. The trip to Uzbekistan followed the first part of the mission in neighboring Kazakhstan. A total of 96 memoranda of understanding and cooperation agreements were concluded during both parts of the trip. Uzbekistan, the second largest economy in Central Asia after Kazakhstan and also the most populous country in the region, welcomed agreements with Hong Kong in areas such as digital technologies, financial services, infrastructure, logistics and advanced manufacturing. Visa-free travel to facilitate exchange Hong Kong and Uzbekistan also exchanged diplomatic notes on the introduction of a reciprocal visa-free regime for stays of up to 30 days. Government representatives from both sides stated that the measure would promote business relations and exchanges between the two countries' populations. "This visit has three objectives. Firstly, to open up new growth markets and create a solid foundation for long-term economic and trade development. Secondly, to strengthen intergovernmental relations and deepen bilateral cooperation. Third, to establish a cooperation model between major economic hubs," said Lee. Lee led a delegation of 75 business representatives from Hong Kong and 17 provinces and cities on the Chinese mainland. The participants represented industries such as financial and consulting services, logistics and transportation, innovation and technology, trade, environmental management and media. According to Lee, the delegation took part in more than 20 events and visited numerous projects in the areas of finance, technology and infrastructure. Cooperation in finance, technology and aviation Among the agreements signed in Uzbekistan were partnerships between the Hong Kong Trade Development Council (HKTDC) and the Chamber of Commerce and Industry of Uzbekistan, between Cyberport and IT Park Uzbekistan and between the Hong Kong Airport Authority and the Fly Khiva Group. Further agreements were concluded between banks, technology companies, pharmaceutical companies and local authorities. The China International Capital Corporation and the National Bank of Uzbekistan, among others, also agreed to cooperate. The Hong Kong General Chamber of Commerce, the bar associations of both countries as well as the Hong Kong Palace Museum and the State History Museum of Uzbekistan also entered into partnerships. Investment volume of 1.65 billion US dollars Hong Kong representatives explained that the entire Central Asia mission had resulted in projects and agreements with an estimated volume of around 1.65 billion US dollars. Lee emphasized that many of the agreements included concrete investment commitments and were part of a broader strategy to deepen economic ties between Hong Kong, mainland China and Central Asia. During the visit, Lee met with President Shavkat Mirziyoyev, Prime Minister Abdulla Aripov and other high-ranking government officials. The talks focused on cooperation in the areas of trade, finance, transport, digitalization, artificial intelligence and green energy. Lee also conveyed greetings from Chinese President Xi Jinping and emphasized the increasingly close relations between China and Uzbekistan. Consulate General and direct flights planned An important outcome of the trip was Uzbekistan's commitment to open a consulate general in Hong Kong. This should further strengthen economic and diplomatic relations. Uzbek Foreign Minister Bakhtiyor Saidov also stated that both sides had reaffirmed their intention to conclude an agreement on reciprocal visa-free travel. In addition, drafts of an agreement on civil aviation services have been finalized. This could allow the launch of direct flights between Hong Kong and Uzbekistan in the future. Further economic agreements in preparation Both sides also agreed to start talks on a double taxation agreement and on regulations for the protection and promotion of investments. According to the Uzbek presidential office, a comprehensive cooperation program is to be developed that includes trade, finance, industrial cooperation, tourism, education, air links and consular services. Priority areas include green energy, agriculture, biotechnology, fintech, innovative start-ups and artificial intelligence. Hong Kong relies on the "hub-to-hub" model The program is part of a "hub-to-hub" approach promoted by Hong Kong, which aims to connect Central Asian markets with Hong Kong's financial, logistics and service networks. For Hong Kong, the mission was part of a strategy to deepen ties with emerging markets and strengthen its role as a bridge between mainland Chinese companies and international business opportunities. Trade volume grows significantly The visit took place against the backdrop of growing economic relations between Hong Kong and Central Asia. Trade in goods between Hong Kong and the Central Asian states exceeded the USD 320 million mark in 2025, 27% higher than in 2020. Trade with Uzbekistan developed particularly dynamically. In the first quarter of 2026, Hong Kong was one of the country's 20 most important trading partners. The bilateral trade volume reached USD 155.7 million compared to USD 24.4 million in the same period in 2024 and 2025. Part of the New Silk Road The mission also reflects the growing economic cooperation between China and Central Asia as part of the New Silk Road. Hong Kong is increasingly positioning itself as a platform for investment, trade and business activities in the region. "The visit to Central Asia has brought concrete results and reaffirmed the confidence of Central Asian countries in Hong Kong's role as a bridge," said Frederick Ma, Chairman of the Hong Kong Trade Development Council. He emphasized that Hong Kong serves both companies from the Chinese mainland as a springboard for international expansion and foreign companies as a gateway to the Chinese market. The HKTDC announced that it would actively support the projects initiated during the mission in order to accelerate the implementation of the agreements and further expand economic cooperation with Central Asia. The post Hong Kong and Uzbekistan strengthen their cooperation as regional economic hubs appeared first on ostwirtschaft.de.