New Hong Kong trade office in Malaysia a bridge to Greater Bay Area: minister

Hong Kong has opened a new trade office in Malaysia, with a minister saying the move is part of a strategic push to deepen regional ties and position the city as a bridge between the country and the Greater Bay Area. Secretary for Commerce and Economic Development Algernon Yau Ying-wah said on Tuesday that the opening of the Economic and Trade Office (ETO) in Kuala Lumpur would strengthen Hong Kong’s presence in the region. “The establishment of the new [ETO] in Kuala Lumpur is a highly strategic move,” he said in an exclusive interview with the South China Morning Post. “By setting up a dedicated office in Malaysia, the Hong Kong government can better manage regional resources and provide targeted support across Southeast Asia.” Yau, who officiated the office’s opening ceremony, noted that the Association of Southeast Asian Nations, or Asean, continued to serve as Hong Kong’s second-largest merchandise trading partner. The Asean bloc comprises the Philippines, Indonesia, Malaysia, Singapore, Brunei, Thailand, Vietnam, Cambodia, Laos, Myanmar and East Timor. He added that the new office would oversee trade and economic development across Malaysia, Brunei, Pakistan and Laos. The minister also said the office would serve as an official channel to engage with Malaysian authorities on matters of trade, cultural exchange, tourism, education and youth development. The office’s mission included supporting a “two-way” economic strategy that aimed to help Hong Kong firms enter Malaysia while attracting enterprises from the country to use the city as a launch pad into the bay area, he said. The bay area refers to Beijing’s plan to integrate Hong Kong, Macau and nine mainland Chinese cities into an economic powerhouse. Yau highlighted Malaysia’s strengths in semiconductor manufacturing and industrial infrastructure, and pointed to potential synergies involving leveraging Hong Kong for research and development while relying on the country’s production base. He added that Malaysian enterprises seeking to expand into the bay area could draw on Hong Kong’s specialised professional services, including its legal, financial and accounting expertise. Such services enjoyed preferential market access under existing liberalised trade agreements, he noted. Recognising Malaysia’s sprawling commercial landscape, Yau said that outreach efforts would extend beyond Kuala Lumpur to key regional hubs including Penang, Kota Kinabalu, Kuching and Johor Bahru. He noted that Hong Kong and Malaysia had strong potential to deepen ties in innovation and technology, and sustainable development. According to Hong Kong government data, trade between the two jurisdictions was worth HK$220 billion (US$28.2 billion) in 2022. They were each other’s ninth-largest trading partners that year. Yau was in Malaysia as part of a 200-strong delegation – the biggest under the Trade Development Council’s “Think Business, Think Hong Kong” flagship campaign – seeking to boost bilateral business ties. The delegation included business leaders, start-up entrepreneurs and professional service providers. On Tuesday, more than 1,600 business executives from Hong Kong and Malaysia gathered for a day-long dialogue, cross-border networking and tailored trade matching. The TDC event underscored a strong mutual interest in deepening commercial ties and expanding regional cooperation. Over 300 tailored business-matching sessions were held to help Malaysian companies connect with Hong Kong partners, enabling them to scale internationally and strengthen relationships across key sectors. While exploring fresh opportunities, Yau underscored Hong Kong’s regional presence by signing several bilateral investment agreements. He also expressed confidence that the visit would help mainland and Hong Kong businesses expand globally, while bringing in foreign investment to reinforce the city’s economy. Discussing Hong Kong’s bid to join the Regional Comprehensive Economic Partnership (RCEP), Yau said the government was actively pushing forward with the process. But he said the city’s admission would ultimately depend on the trade bloc’s internal procedures and administrative timelines. The RCEP is the world’s largest free-trade agreement encompassing all the Asean states, Australia, China, Japan, New Zealand and South Korea. Hong Kong has been stepping up efforts to join the RCEP, with authorities earlier noting that all the bloc’s members had “responded positively” to the city’s application. The opening of the new office means Hong Kong now has a network of 15 ETOs outside the mainland. But the offices have faced scrutiny, with the future of three ETOs in the United States left uncertain after Congress previously advanced legislation aimed at closing them. Chief Executive John Lee Ka-chiu said in June that the Kuala Lumpur office would open as part of the city’s efforts to strengthen ties with the Asean bloc. He also noted at the time that more than 80 Malaysian businesses had established offices in Hong Kong, while more than 30 were listed on the city’s stock exchange. Several Hong Kong media companies, including the SCMP, signed eight memorandums of understanding with Malaysian organisations to expand their overseas networks at the event.

New Hong Kong trade office in Malaysia a bridge to Greater Bay Area: minister

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Commerce chief Algernon Yau calls launch of Economic and Trade Office in Kuala Lumpur ‘highly strategic move’

Commerce chief Algernon Yau calls launch of Economic and Trade Office in Kuala Lumpur ‘highly strategic move’