Press Release

Second delegation visit to ASEAN this year

(27th May 2024) The Hong Kong Association of Banks (HKAB) concluded a two-day visit to Malaysia last week, during which the Hong Kong delegation exchanged views with over 160 representatives from Malaysia’s banking and business communities. At the Malaysia Business Forum hosted by HKAB, Malaysian enterprises were encouraged to leverage Hong Kong’s high value-added banking services and fundraising platform to unlock greater business opportunities.

Datuk Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia, and Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, voiced their support for deepening economic ties between the two economies.

The Forum featured several panel discussions organised by HKAB member banks, focusing on the prospect and benefits of financial collaboration between Hong Kong and Malaysia. Key topics included leveraging Hong Kong’s offshore Renminbi hub and deep capital markets to support Malaysia businesses, as well as exploring avenues for enhancing cross-border trade. In addition, HKAB members visited a Malaysian conglomerate to gain a deeper understanding of local market sentiment and local business needs.

Ms Luanne Lim, Chairperson of the HKAB, said, “Hong Kong has been actively pursuing early accession to the Regional Comprehensive Economic Partnership, with the support of founding RCEP members including Malaysia. Hong Kong is uniquely placed to add value to the member states of RCEP. Last year alone, about US$79 billion worth of merchandise trade between ASEAN and Mainland China was routed through Hong Kong. Moreover, a growing share of Malaysia’s trade settlements is being conducted in Renminbi. This is an opportune time to step up collaborative efforts between Hong Kong and Malaysia.”

The visit to Malaysia marked HKAB’s second overseas delegation in 2024 aimed at boosting financial connectivity between Hong Kong and ASEAN markets. Earlier this year, HKAB hosted a business forum in Thailand.

Photos:

Datuk Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia (middle), Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (right), Ms Luanne Lim, Chairman of the HKAB, at the HKAB’s Malaysia Business Forum.

At the Malaysia Business Forum hosted by HKAB, Malaysian enterprises are encouraged to leverage Hong Kong’s high value-added banking services and fundraising platform to unlock greater business opportunities.

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