HK fosters ties with Indonesia

April 25, 2018

Secretary for Commerce & Economic Development Edward Yau:
Indonesia is a very big business partner with Hong Kong. Indonesia is in fact our sixth largest (market for) export of goods and fifth largest (market for) export of services (in ASEAN), and also our mutual trade investment is growing at a very handsome rate. So this particular market is one that Hong Kong treasures. I would also describe that in our bilateral meeting between your President and (our) Chief Executive, we highlighted the tremendous potential for this bilateral relationship to grow as Indonesia continues to prosper and also Hong Kong serving as the regional hub for this region, in particular, for Indonesia. 

And also with the signing of the Free Trade Agreement between Hong Kong and ASEAN, we are seeing Hong Kong serving a greater role as a service hub, in particular for professional services, where we connect the entire ASEAN with other parts of the world. We are seeing this part of the world, ASEAN as a whole, (has) already emerged as Hong Kong’s second largest market as a trading entity, and we are seeing a lot of major mega infrastructural projects which require a lot of financing (and) professional services from legal to insurance and also to construction. So we are happy to play that role as your chief financing officer or your project co-ordinator, or as part of the partnership to bring ASEAN into the next platform.

We are also talking about Belt & Road being an international engagement policy. In the Belt & Road Initiative, there will be a lot of connectivity between governments. One of the areas which is being advocated under the Belt & Road (Initiative) is policy co-ordination. It requires government-to-government networking, and that’s why it’s important for the Hong Kong Government to reach out and to establish an even closer relationship with a partner like Indonesia.

Secretary for Commerce & Economic Development Edward Yau said the mission of his visit to Jakarta is to foster trade and investment ties between Hong Kong and Indonesia.

Speaking at a media session after meeting Indonesian President Joko Widodo today, Mr Yau said such a relationship between the two places is premised on three major platforms.

He said first, Indonesia is a major market and business partner of Hong Kong because of its population of more than 200 million people and also its economic strength.

“I would also describe that in our bilateral meeting between your President and our Chief Executive, we highlighted the tremendous potential for this bilateral relationship to grow as Indonesia continues to prosper and also Hong Kong serving as the regional hub for this region, in particular, for Indonesia.”

Second, there is a strategic relationship between Hong Kong and Indonesia due to the signing of the Free Trade Agreement between Hong Kong and the Association of South East Asian Nations.

Mr Yau said the third platform is the Belt & Road Initiative, which connects Hong Kong, Indonesia and other countries.

“In the Belt & Road Initiative, there will be a lot of connectivity between governments. One of the areas which is being advocated under the Belt & Road Initiative is policy co-ordination. It requires government-to-government networking, and that’s why it’s important for the Hong Kong Government to reach out and to establish an even closer relationship with a partner like Indonesia.”

He added the bilateral meeting also covered infrastructure development, city management and synergy within the business sector.