Hong Kong strengthens ties with Global South markets

It also aims to enhance collaboration with ASEAN and Middle Eastern markets.

The Hong Kong government is taking proactive steps to expand its trade network and attract more investment from Global South markets.

In his 2025-2026 Budget Speech, Hong Kong’s Financial Secretary Paul Chan said active discussions are underway with Malaysia and Saudi Arabia regarding the establishment of Economic and Trade Offices in both countries.

In addition, InvestHK has launched consultant offices in Cairo, Egypt, and Izmir, Türkiye, whilst the Hong Kong Trade Development Council (HKTDC) has opened a consultant office in Cambodia.

The government is also exploring the signing of investment agreements with Saudi Arabia, Bangladesh, Egypt, and Peru, while also engaging in negotiations with 17 countries over Comprehensive Avoidance of Double Taxation Agreements.

Additionally, Chan said Hong Kong will leverage its position as a key functional platform for the Belt and Road (B&R) Initiative to enhance collaboration with ASEAN and Middle Eastern markets.

The region will also explore opportunities in Central Asia, South Asia, and North Africa in partnership with business and professional services sectors.

The HKTDC plans to focus on B&R project matching, with a particular emphasis on green development and innovation and technology (I&T).

Chan also announced that the 10th B&R Summit, a flagship event for Hong Kong’s participation in the initiative, will take place in September. 

The government encourages various sectors to host events during the summit period to foster synergies and further promote collaboration.