Malaysia welcomes announcement of the opening of Hong Kong Economic and Trade Office in KL -Ministry

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KUALA LUMPUR: Malaysia welcomes the announcement by the Hong Kong Special Administrative Region (HKSAR) to establish a new Hong Kong Economic and Trade Office (HKETO) in Kuala Lumpur.

Foreign Affairs Ministry in a statement said the opening of HKETO highlights the strong economic and trade ties between the Hong Kong Special Administrative Region and Malaysia.

“This initiative was made following Prime Minister Datuk Seri Anwar Ibrahim’s proposal to the Chief Executive of HKSAR, John Lee, during their bilateral meeting in Putrajaya, July 2023.

“Being strategically located in Southeast Asia, Malaysia continues to solidify its position as a key partner for Hong Kong – as the two sides seek to further expand and deepen the existing trade, investment, and economic collaborations,” the ministry said in its statement.

The statement added, the strength of this partnership is evident in the robust trade figures between the two sides. In 2023, Malaysia and Hong Kong enjoyed a total trade of RM105.09 billion (USD23.03 billion) – total exports stood at RM89.84 billion (USD19.69 billion), while total imports were RM15.25 billion (USD3.34 billion), with the trade balance in Malaysia’s favour.

According to the statement, both sides have been actively engaging with one another during the exchange of high-level visits.

“Apart from the HKSAR Chief Executive’s visit last year, its Secretary of Finance and Secretary for Commerce and Economic Development visited Malaysia in March and July 2023.

“Malaysia’s Cabinet Ministers, namely from the Ministry of Investment, Trade, and Industry (MITI), Ministry of Transport (MOT) and Ministry of Tourism, Arts & Culture (MOTAC), as well as the Deputy Foreign Minister undertook visits to HKSAR.

“The opening of the HKETO in Kuala Lumpur not only signifies a new chapter in Malaysia-Hong Kong relations, but also adds significance to the 50th Anniversary of Malaysia-China Diplomatic ties,” the statement said..-Malaysia World News

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