Commerce Secretary Algernon Yau to Lead Trade Mission to Turkey and Egypt in January
SingTao · 2 SOURCESabout 4 hours ago2 MIN
Summary
Hong Kong's Secretary for Commerce and Economic Development Algernon Yau announced plans to lead a trade delegation to Turkey and Egypt in January, aiming to strengthen economic ties with African markets. Speaking on a radio programme on Tuesday, Yau highlighted robust foreign investment confidence in Hong Kong, with over 10,070 companies now incorporated locally, despite geopolitical challenges.
Key Points
- Hong Kong's import and export trade has recorded over 40% strong growth, with AI applications significantly boosting trade performance
- The number of companies incorporated in Hong Kong with headquarters abroad has reached 10,070, with mainland enterprises leading at over 3,000, followed by the US and Japan at around 1,600 each
- Hong Kong has signed 9 free trade agreements covering 21 economies and 25 investment protection agreements covering 34 economies
- A Kuala Lumpur representative office is operational; a trade office in Riyadh is under active advancement but progress may be slower due to geopolitical factors
- Yau will personally lead a delegation to Turkey and Egypt in January 2026 to tap African market opportunities
- The Mainland Enterprises Going Global Task Force, established in October 2024, has assisted over 340 mainland enterprises in setting up or expanding operations in Hong Kong
Why It Matters
The planned trade mission to Turkey and Egypt marks Hong Kong's strategic pivot towards emerging markets amid complex geopolitical dynamics, as the city seeks to diversify its economic partnerships beyond traditional Western markets. With over 10,000 foreign companies still choosing Hong Kong as their regional base, the government is leveraging the city's zero-tariff advantages and professional services to position itself as the gateway for mainland enterprises expanding globally .
The planned trade mission to Turkey and Egypt marks Hong Kong's strategic pivot towards emerging markets amid complex geopolitical dynamics, as the city seeks to diversify its economic partnerships beyond traditional Western markets. With over 10,000 foreign companies still choosing Hong Kong as their regional base, the government is leveraging the city's zero-tariff advantages and professional services to position itself as the gateway for mainland enterprises expanding globally .