HKTDC seals three agreements in Kazakhstan

The Hong Kong Trade Development Council (HKTDC) on Tuesday signed memorandums of understanding with three organisations in Kazakhstan. The individual agreements were made with Atameken, the National Chamber of Entrepreneurs of Kazakhstan; Satbayev University, a leading technical university in Almaty; and the Association of Consulting and Trading Companies. Chief Executive John Lee and Kazakhstan's Deputy Prime Minister and Minister of National Economy Serik Zhumangarin witnessed the exchange of documents at a luncheon. Zhumangarin said he is confident that the partnership between the two sides will deepen in the future. “Overall, the visit of the esteemed John Lee and the entire delegation is a practical confirmation of mutual trust, business interests and readiness to move towards the implementation of concrete projects,” he said. “I am confident that today's meeting will become an important step towards launching new joint projects, attracting investments and expanding business ties.” Several business entities among the delegation also signed individual memorandums of understanding with their counterparts in Kazakhstan, covering sectors such as finance, asset management, aviation, media, agriculture and new energy. A number of the agreements were signed by state-backed investment bank China International Capital Corporation Limited (CICC) as well as their Kazakh partners, including one with the Sovereign Wealth Fund Samruk-Kazyna. The Hong Kong Airport Authority and Cathay Pacific also secured operational agreements with Almaty International Airport. Cathay announced that it plans to operate three direct flights per week connecting Hong Kong to Almaty, starting in the first quarter of next year. The Chinese Manufacturers' Association of Hong Kong, Federation of Hong Kong Industries and Hong Kong General Chamber of Commerce also secured deals. Edited by Thomas McAlinden