DAB and Mr. Algernon Yau discussed the strategic economic and trade ties between HK & ASEAN

September 26, 2022

DAB LegCo members met with the Secretary for Commerce and Economic Development Mr. Algernon Yau this morning to explain DAB’s achievements during its ASEAN visit earlier this month, and exchange views on promotion of economic and trade ties between Hong Kong and ASEAN to bring about a higher level of strategic development.

The DAB was confident that ASEAN is an emerging economy with great potential for development. Moreover, it had become the second largest trading partner with Hong Kong apart from our country that the SAR government should enhance its strategic development with the ASEAN region. We made the following eight proposals on the general direction:

1. Enhance the strategic development status of the ASEAN region

2. Reorganize Hong Kong’s overseas offices which are responsible for the promotion of economic and trade development

3. Attract ASEAN companies to fundraise and list in Hong Kong

4. Attract the ASEAN region to utilize Hong Kong’s professional services

5. Assist SMEs to enter the ASEAN market

6. Strengthen regional cooperation through the digital economy

7. Strengthen promotion of Hong Kong's cultural industries

8. Develop Hong Kong into a training center for talents in the ASEAN region

Follow up work

Before and after the end of the visit, many organizations indicated that they would pay return visit to Hong Kong. We would actively assist to facilitate their visits. On the other hand, DAB will accept the invitation from Indonesia Chamber of Commerce in Hong Kong and would send a delegation to attend the B20 summit to be held in Indonesia in November.