Hong Kong signs 96 agreements with Kazakhstan and Uzbekistan worth US$1.65 billion

Hong Kong has signed 96 agreements with Kazakhstan and Uzbekistan worth US$1.65 billion during city leader John Lee Ka-chiu’s visit to Central Asia, which he hailed as a “successful” mission setting the stage for closer government and business ties with the region. Lee on Thursday also said Hong Kong had initiated an agreement with Uzbekistan that paved the way for airlines on both sides to launch a new direct route, days after the city’s flag carrier Cathay Pacific Airways announced it would offer flights to Almaty in Kazakhstan next year. He also revealed that Uzbekistan had agreed to open a consulate in Hong Kong. Lee reviewed the achievements of his “successful” high-level visit after meeting Uzbekistani President Shavkat Mirziyoyev, Prime Minister Abdulla Aripov and Deputy Prime Minister Jamshid Khodjaev in Tashkent. “Our visit has altogether reached 96 partnership agreements and memorandums of understanding [MOUs],” he said. Fifteen were at the government-level covering areas such as trade, education and development, while the remaining 81 were signed by businesses and others. Sixty-one of the deals were signed with Kazakhstan, while 35 were with Uzbekistan. “It presents a total concrete value of approximately US$1.65 billion,” Lee said. The city leader said his trip had laid the foundation for high-level collaboration with the two Central Asian countries. Both countries had agreed to start negotiations on signing a comprehensive avoidance of double taxation agreement and an investment promotion and protection agreement. Hong Kong and Uzbekistan also initiated an air services agreement, a bilateral treaty on aviation rights, which would allow for airlines from both places to implement direct routes, Lee added. “I understood that there is an airline already planning it, looking into when and how to implement the route, its frequency and the collaboration model,” he said. “I believe they will actively implement it as soon as possible.” Hong Kong and Uzbekistan have also begun talks on a reciprocal agreement that would allow visitors from both sides visa-free access for up to 30 days. The proposed arrangement would extend the visa-free stay for Hong Kong passport holders visiting Uzbekistan from the current 10 days to 30 days. In return, holders of ordinary Uzbek passports would be granted visa-free access to Hong Kong for up to 30 days. Lee said he also supported setting up an Economic and Trade Office in the region and that he had tasked his team to study the idea. Frederick Ma Si-hang, chairman of the Trade Development Council and a member of Lee’s 70-member delegation, said the visit had “opened a big door” for businesses. For one, national railway company Kazakhstan Temir Zholy would seek to list in Hong Kong, he said. A renowned hotel group in the city was also in discussion with Kazakhstan on expanding its coverage in the Central Asian country, he said. Lee’s delegation received a briefing from Uzbekistan’s Ministry of Investment, Industry and Trade, during which its officials revealed Tashkent was planning to launch a direct flight to Hong Kong this year, with details being hammered out with local authorities. The group, comprising local and mainland Chinese business leaders, also traded views with Chinese Ambassador Yu Jun and met Sarvar Khamidov, deputy adviser to the country’s president. Lee and Sardor Umurzakov, an adviser to the president on strategic development, oversaw the signing of six partnership deals between several Hong Kong companies and their Uzbekistani counterparts. They included an MOU between China International Capital Corporation (CICC) and the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, which aimed at leveraging Hong Kong’s financial expertise to support the Central Asian country’s long-term development. CICC also sealed a deal with the Tashkent City Municipality to explore potential bond issuances and other solutions in Hong Kong to advance urban infrastructure and capital market development in Uzbekistan’s capital. Lee’s delegation comprises 40 Hong Kong representatives from the logistics, innovation and technology, banking and aviation sectors, as well 30 mainland entrepreneurs. The delegation is expected to visit the IT Park Uzbekistan and meet officials from the Ministry of Digital Technologies and more government representatives before returning to Hong Kong on Friday.

Hong Kong signs 96 agreements with Kazakhstan and Uzbekistan worth US$1.65 billion

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}City leader John Lee hails Central Asia visit as setting stage for closer government and business ties with region

City leader John Lee hails Central Asia visit as setting stage for closer government and business ties with region