KUALA LUMPUR – Hong Kong Special Administrative Region Chief Executive John Lee’s maiden visit to Malaysia starting yesterday is set to open doors for increased bilateral trade volume.
Senior Fellow at the Nusantara Academy for Strategic Research Prof Azmi Hassan said this is possible, looking at the proposed opening of a Hong Kong trade office in Kuala Lumpur.
The visit highlights the significant room for improvement in trade activities between Hong Kong and Malaysia, adding that the total trade volume between the two countries was valued at US$25.69 billion (RM117 billion) in 2022.
Comparatively, he said the trade volume between Hong Kong and Vietnam stood at more than US$28 billion in 2021, representing a 19% increase from 2020.
“Hong Kong is currently one of Malaysia’s most crucial trading partners, being Malaysia’s fifth-largest export destination.
“The proposed establishment of a Hong Kong trade office in Kuala Lumpur will further strengthen trade ties between both parties and add Malaysia's capital to an exclusive list of trade offices that includes places like Dubai and other countries," he told Bernama, when commenting on the impact of Lee's visit to Malaysia.
During his three-day visit that ends on Saturday, Lee met with Malaysian Prime Minister Datuk Seri Anwar Ibrahim to discuss measures for bolstering economic and social activities, with Anwar revealing that Hong Kong could potentially open a trade office in Kuala Lumpur to further enhance ties between the two sides.
Additionally, Anwar announced via Facebook that Hong Kong passport holders can now stay in Malaysia visa-free for up to 90 days, effective from June 28.
“This showed Malaysia’s commitment to fostering people-to-people ties, particularly in the area of medical tourism,” said Azmi.
The geostrategist also believed that the discussions between Anwar and Lee focused mainly on economic and social matters and felt that political issues did not play a significant role, as Malaysia adheres to the One-China policy in line with other Asean member states.
He emphasised that the relationship between Hong Kong and Asean is primarily focused on trade, economy, education, and innovation, with geopolitics playing a minor role.
Lee’s visit to Malaysia concludes his three-country tour, which also included Singapore and Indonesia, as part of an effort to forge closer ties with Asean member states.
The visit holds significant potential for elevating trade relations and collaboration between Hong Kong and Malaysia.
As a special administrative region of the People's Republic of China, Hong Kong is formally represented in Malaysia by the Chinese Embassy in Kuala Lumpur. – Bernama, July 28, 2023
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