Malaysia to Work with New HK Economic and Trade Office, Says PM
Prime Minister Anwar Ibrahim Conveys Government’s Readiness to Collaborate
Prime Minister Anwar Ibrahim has conveyed the government’s readiness to collaborate with and assist the new Hong Kong economic and trade office (HKETO) in Kuala Lumpur, whose establishment was announced by Hong Kong early this year.
“This will further strengthen the ties and cooperation between Malaysia and the Hong Kong Special Administrative Region (HKSAR),” he told reporters after a bilateral meeting with HKSAR chief executive John Lee Ka-Chiu here on Friday.
Areas of Collaboration
During the meeting, the two leaders had the opportunity to consider collaborations in the areas of investment, trade, education, tourism, semiconductor, information technology, financial services, and people-to-people relations.
Hong Kong also invited Malaysia to learn about transportation technology and participate in its science, technology, and innovation hub development project, including a science park.
Bilateral Meeting
Also present during the meeting were foreign minister Mohamad Hasan and Malaysian ambassador to Peru Ahmad Irham Ikmal Hisham.
Anwar is on an official visit to Peru where he is attending the Asia-Pacific Economic Cooperation (Apec) Economic Leaders’ Week. During the visit, bilateral meetings were also scheduled with leaders of some Apec member economies.
Background
In February this year, the foreign ministry said in a statement that the move to open the HKETO in Kuala Lumpur highlights the strong economic and trade ties between the HKSAR and Malaysia.
The decision for this initiative came after Anwar, who is also the finance minister, made the proposal to Lee during their bilateral meeting in Putrajaya in July 2023.
“Being strategically located in Southeast Asia, Malaysia continues to solidify its position as a key partner for Hong Kong – as the two sides seek to further expand and deepen the existing trade, investment, and economic collaborations,” Wisma Putra said.
Trade Figures
The strength of this partnership is evident in the robust trade figures between the two sides.
In 2023, Malaysia and Hong Kong enjoyed total trade of RM105.09 billion (US$23.03 billion) – comprising exports valued at RM89.84 billion (US$19.69 billion) and imports worth RM15.25 billion (US$3.34 billion) – with the trade balance being in Malaysia’s favour.
Conclusion
The opening of the HKETO in Kuala Lumpur not only signifies a new chapter in Malaysia-Hong Kong relations but also adds significance to the 50th anniversary of Malaysia-China diplomatic ties.
FAQs
Q: What is the purpose of the new Hong Kong economic and trade office (HKETO) in Kuala Lumpur?
A: The HKETO aims to further strengthen the ties and cooperation between Malaysia and the Hong Kong Special Administrative Region (HKSAR).
Q: What areas of collaboration were discussed during the bilateral meeting between Prime Minister Anwar Ibrahim and HKSAR chief executive John Lee Ka-Chiu?
A: The areas of collaboration discussed included investment, trade, education, tourism, semiconductor, information technology, financial services, and people-to-people relations.
Q: What is the significance of the HKETO’s establishment in Kuala Lumpur?
A: The establishment of the HKETO in Kuala Lumpur signifies a new chapter in Malaysia-Hong Kong relations and adds significance to the 50th anniversary of Malaysia-China diplomatic ties.