ASEAN-Hong Kong Two-Way Trade Hits US$132.5 Bln
By Ahmad Erwan Othman
KUALA LUMPUR, Sept 26 (Bernama) -- ASEAN’s economic partnership with Hong Kong continues to strengthen, with total two-way trade reaching US$132.5 billion in 2024, placing them among the region’s top seven trading partners, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
Speaking at the opening of the 9th ASEAN-Hong Kong, China (HKC) Consultation here this evening, Tengku Zafrul said ASEAN exports to Hong Kong were valued at US$112.1 billion and imports US$20.5 billion.
“This reflects Hong Kong's role as a vital gateway for ASEAN products into the global market, particularly in high-value and re-export sectors,” he said at the meeting.
Tengku Zafrul also noted that foreign direct investment (FDI) from Hong Kong continues to flow into ASEAN, making it the sixth-largest FDI source for the region.
This reaffirmed Hong Kong’s position as a reliable and innovation-driven investor with strong contributions in financial services, logistics, advanced manufacturing and technology-driven industries, he said.
Discussions also covered cooperation under the Ecotech Booth Programme and Hong Kong-China’s proposal to advance trade facilitation through trade single-window connectivity.
“These efforts are essential to ensuring that our agreements remain relevant, business-friendly and forward-looking. Beyond these specific areas, we will also exchange views on regional and global economic developments and discuss the future direction of ASEAN-HKC cooperation,” he said.
Meanwhile, Hong Kong’s Secretary for Commerce and Economic Development Algernon Yau, who is also a guest of the chair, said ASEAN has been Hong Kong's second-largest merchandise trading partner for 15 consecutive years.
He said merchandise trade between both sides grew 14 per cent last year and further expanded by 24 per cent in the first half of 2025, making ASEAN Hong Kong’s third-largest services trade partner.
“Since the signing of the agreement in 2017, our trade and goods with ASEAN have increased by 38 per cent, while Hong Kong’s outward direct investment to ASEAN has risen by 42 per cent.
Yau also reaffirmed HKC’s commitment to strengthening ties with ASEAN in trade, investment and people-to-people exchanges, noting that inclusivity and sustainability remain at the core of the partnership.
He also congratulated ASEAN under Malaysia’s chairmanship for recent accomplishments, including the completion of negotiations on the upgraded ASEAN-Hong Kong China Free Trade Agreement, the upgrade of the ASEAN Trade in Goods Agreement, and the adoption of the ASEAN Community Vision 2045.
-- BERNAMA
