Hong Kong has been increasingly connecting with Central Asia through financial and trade ties. In this regard, Chief Executive John Lee will lead a delegation on a visit to Kazakhstan and Uzbekistan to explore more business opportunities.

The two countries are both Hong Kong's key trading partners in Central Asia, taking up 59.7% and 13.2% of Hong Kong's total exports to the area respectively.

The Hong Kong Trade Development Council stated that the ongoing economic reform and diversification in Central Asia present new opportunities for bilateral collaborations.

The council's Director of Research Bruce Pang noted that almost every Central Asia country has ambitious plans to upgrade their logistic facilities and to uplift their logistic capacity.

“Like in Kazakhstan, they are looking at how to upgrade their airport, air freight, logistics sectors, etc.

“And so we think that Hong Kong logistics firms, they actually have the potential to co-operate with all these countries to provide our solutions from warehouse automation as well as supply chain management.”

Kazakhstan is also leveraging Hong Kong's financial advantages to develop fintech and digital assets.

The council also pointed out that the youthful demographic of Uzbekistan implies a large consumption market, and local enterprises see Hong Kong as a hub for fundraising and financing.

The council's Principal Economist Alice Tsang highlighted that Central Asia countries are working towards developing light industries.

“So, I think Hong Kong companies can get the first-mover advantage by establishing or actually collaborating with the factories or companies in Uzbekistan to develop their products over there.”

Ms Tsang added that it is striving to establish the brand “Made in Uzbekistan” and that Hong Kong enterprises can serve as a “super connector” to help Uzbekistan companies tap into different markets.