New Hong Kong trade office in Malaysia a bridge to Greater Bay Area: minister

Hong Kong has established a new Economic and Trade Office (ETO) in Malaysia, aiming to deepen regional ties and serve as a bridge to the Greater Bay Area. The move was unveiled by Secretary for Commerce and Economic Development Algernon Yau Ying-wah during the office's opening ceremony in Kuala Lumpur. The decision to establish the ETO in Malaysia is part of a strategic plan to enhance Hong Kong's presence in the region, manage regional resources effectively, and provide targeted support across Southeast Asia.

The Asean bloc, which includes Malaysia, continues to be Hong Kong's second-largest merchandise trading partner. The new office will oversee trade and economic development in Malaysia, Brunei, Pakistan, and Laos, acting as an official channel for engaging with Malaysian authorities on various matters. Yau emphasized the office's mission to support Hong Kong firms in entering the Malaysian market while attracting Malaysian enterprises to use Hong Kong as a launchpad into the Greater Bay Area.

He highlighted Malaysia's strengths in semiconductor manufacturing and industrial infrastructure, noting that the office would facilitate synergies between Hong Kong's professional services and Malaysia's production base. With Hong Kong and Malaysia sharing a trade volume of HK$220 billion (US$28.2 billion) in 2022, the opening of the ETO signifies a strong potential for deeper ties in innovation, technology, and sustainable development.

The new office is part of a broader effort to strengthen Hong Kong's regional presence and expand its commercial ties. Hong Kong now has a network of 15 ETOs outside the mainland, although the future of three ETOs in the United States remains uncertain due to pending legislation.