Malaysia welcomes opening of HK’s Trade Office in KL

PUTRAJAYA, Feb. 28: Malaysia has welcomed the announcement by the Hong Kong Special Administrative Region (HKSAR) to establish a Hong Kong Economic and Trade Office (HKETO) in Kuala Lumpur, as it signifies the strong economic and trade ties between Hong Kong and Malaysia.

Malaysia’s Foreign Ministry or widely known as Wisma Putra in a statement on Wednesday said the decision for the initiative came after Prime Minister Datuk Seri Anwar Ibrahim made the proposal to the HKSAR Chief Executive John Lee during their bilateral meeting in Putrajaya in July 2023.

“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,” said Wisma Putra.

Being strategically located in Southeast Asia, Wisma Putra noted that Malaysia continues to solidify its position as being a key partner for Hong Kong – as the two sides seek to further expand and deepen the existing trade, investment, and economic collaborations.

Wisma Putra said the strength of the 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.

Wisma Putra said both sides have been actively engaging one another during the exchange of high-level visits.