In a strategic bid to strengthen its global business ties amidst growing trade uncertainties, Hong Kong is unveiling plans to open its fourth Economic and Trade Office (ETO) in Malaysia by the end of this year. This exciting development is a crucial step in expanding its footprint in Southeast Asia, following existing offices in Singapore, Thailand, and Indonesia.

Algernon Yau Ying-wah, the secretary for commerce and economic development, shared insights in an exclusive interview with China Daily. He emphasized the city's commitment to fostering relations with the Association of Southeast Asian Nations (ASEAN), which represents Hong Kong's second-largest goods market after the Chinese mainland.

In addition to its Malaysian venture, talks are also underway to establish a second ETO in the Middle East, with Saudi Arabia being the prime focus following the successful launch of its first office in Dubai four years ago.

"We're not just looking to expand in Western markets," Yau stated confidently. The city is eyeing future opportunities in Latin America, leveraging free trade agreements established with countries like Chile and Peru.

Currently, Hong Kong operates 14 ETOs across various regions, aimed at promoting its economic interests while assisting international businesses seeking to plant their roots in the bustling city.

Yau also highlighted burgeoning interest in Central and Eastern Europe, particularly in countries like Hungary and Georgia, as well as promising markets in Central Asia, including Kazakhstan.

His recent global tours, which included ten countries and talks with local officials and business leaders, underscored Hong Kong’s robust appeal as a free port—an essential trade corridor with no tariffs, attracting investment despite geopolitical turbulence.

With a population of 86 million and a staggering economic output of approximately 14 trillion yuan ($1.95 trillion), the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is becoming a focal point for businesses eyeing expansion.

Reflecting on his visit to France, Yau noted the historical trading partnerships that have allowed 1,640 European Union companies to thrive within Hong Kong.

In navigating trade relations with the United States, Yau reassured that the direct impact of US-China tensions on Hong Kong's economy remains minimal, constituting only 0.1 percent of its total exports. However, he acknowledged that the indirect effects can't be overlooked, emphasizing the importance of diversifying trade and exploring new markets.

In today's challenging international climate, Hong Kong is not just reacting but actively pursuing opportunities for growth, making the city's upcoming trade office in Malaysia a pivotal part of its ambitious strategy.