Hong Kong-Asean Summit 2023 is Driving City's Growth with Region's Leaders
October 02, 2023
The upcoming Hong Kong-Asean Summit 2023, scheduled for Oct. 9, will convene at the prestigious Conrad Hong Kong. This hybrid conference is poised to unite prominent business leaders, policymakers, and entrepreneurs hailing from Hong Kong, China, and the broader region.
The summit's primary objective is to engage in discussions and deliberations concerning Hong Kong's immediate future, while contemplating its long-term role within the Greater Bay Area, China, and the Association of Southeast Asian Nations (Asean).
Asean has exhibited remarkable resilience and growth despite the prevailing global economic uncertainties and multifaceted challenges. The region boasts an impressive 5.5% growth rate in the previous year, with an average annual increase of 4% over the past decade.
Government statistics underscore Asean's significance as Hong Kong's second-largest trading partner in 2022. Trade reached HK$1.29 trillion, accounting for 13.7% of the city's total trade volume.
The Hong Kong-Asean Summit 2023 recognises the pivotal role of strengthening ties with Asean nations in Hong Kong's post-pandemic economic recovery. In pursuit of this, Hong Kong's Chief Executive led a high-profile delegation to Singapore, Malaysia, and Indonesia, aiming to seize business opportunities and garner support for the city's inclusion in the Regional Comprehensive Economic Partnership Agreement (RCEP), the world's largest free-trade agreement.
Against this backdrop, the summit aims to discuss and formulate strategies for enhancing connectivity to facilitate regional growth. The key topics of discussion will include the future of trade and investment, physical connectivity, and sustainability between Hong Kong and Asean countries. Leveraging Hong Kong's strategic location, top-tier infrastructure, and dynamic business community, the summit seeks to showcase how the city is uniquely positioned to serve as a gateway to Asean and beyond.
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