Hong Kong and the Association of Southeast Asian Nations are deepening collaboration as they pave the way for stronger economic partnerships and enhanced regional connectivity, creating opportunities for shared growth and prosperity, Chief Executive John Lee Ka-chiu said on Tuesday.

“Because we believe in partnership. Despite all the uncertainties and unease across the globe, Hong Kong holds on to the belief that free trade is the backbone for boosting global output,” he said while delivering a speech at the 2025 Hong Kong-ASEAN Summit in the city.

Referring to the recent rise of protectionism and unilateralism, “which is damaging trading systems and escalating geopolitical risks”, he said it is all the more important for like-minded economies in such trying times to work together, upholding multilateralism with an open, rules-based order.

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“Hong Kong has long been a free port and a champion of multilateral trade. That's why we attach great importance to our relations with ASEAN, whose 10 member states share similar values and a clear commitment to promoting free and open trade.”

Pointing out that Hong Kong is the only city in the world with as many as five universities in the world's top 100, he said the city’s institutions nurture world-class scientists and research talent in different disciplines. “Leveraging that strength, Hong Kong is fast rising as an innovation and technology hub.”

For 15 years in a row, ASEAN has been Hong Kong's second-largest merchandise trading partner, he said, adding that ASEAN is Hong Kong’s third-largest outward investment destination, and sixth-largest source of inward direct investment.

The robust relationship is backed by the ASEAN-Hong Kong, China Free Trade Agreement and its related Investment Agreement, which have been in full force since 2021, with the linked Economic and Technical Cooperation Work Programme focused on ensuring continuing trade and investment growth, said the CE.

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With the number of offices set up in Hong Kong with parent companies located in ASEAN growing 13 percent in 2024, some 730 ASEAN companies now call Hong Kong home, he said.

“And we are continually seeking to expand our cooperation and ties. In addition to our Economic and Trade Offices in Singapore, Jakarta, and Bangkok, we are working closely with the Malaysian government to open a fourth ASEAN-based office in Kuala Lumpur.”

Speaking about people-to-people ties and exchanges, the CE said the SAR has relaxed the criteria for nationals of Cambodia, Laos, Myanmar, and Vietnam in applying for multi-entry visas for travel and business, and extended their validity period from two to three years.

Hong Kong is committed to becoming one of the world's leading innovation and technology hubs by synergizing its research prowess with the Chinese mainland's innovation and manufacturing capabilities, he said.

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“As one of the world's top three international financial centers, Hong Kong has the liquidity, along with the angel investors, venture capital, and private equity funds, to drive innovation and innovative companies,” Lee said, adding that these present far-reaching opportunities for ASEAN companies and entrepreneurs looking to tap into the vast and promising markets of the mainland.