'Uzbekistan seeks more cooperation with Hong Kong'

Hong Kong can soon see more cooperation with Uzbekistan and Kazakhstan, as Chief Executive John Lee is set to lead a delegation to Central Asia next month. It will be the largest delegation so far for the current term administration, and it will consist of government officials and more than 60 high-level business representatives. The Central Asia trip would also mark Lee's first official visit there. Secretary for Commerce and Economic Development Algernon Yau said that Uzbekistan hopes to step up business cooperation with the city. He said that the country has already set up a business centre here, and signed agreements with the SAR in areas ranging from minerals to airport operations during the prime minister's visit to Hong Kong earlier. Yau noted that Uzbekistan is a very big country in Central Asia. “It has a population of some 30 million, which accounts for a large proportion of the 80 million people in Central Asia,” he said. “Its GDP growth is also very robust – at about 7.7 percent last year. Its trade with Hong Kong also increased by 13 percent.” Secretary for Financial Services and the Treasury Christopher Hui who travelled to Uzbekistan earlier this month said that representatives from the country’s central bank have expressed interest in utilising Hong Kong to make trades at the Shanghai Gold Exchange. “We can work with [Uzbekistan] to see how they can join trading there. And at the same time, develop Hong Kong’s gold trading ecosystem and value chain,” he said. “Under global changes, different economies in Asia have to collaborate and promote regional growth together.” Deputy Secretary for Justice Horace Cheung said the Tashkent International Arbitration Centre in Uzbekistan already has in-depth cooperation with the Hong Kong International Arbitration Centre in co-managing cases. “Hong Kong has an extensive experience in international arbitration proceedings, while Tashkent International Arbitration Centre in Uzbekistan is very familiar with the countries and regions of the Commonwealth of Independent States and their culture,” he added. Edited by Aaron Tam