Uzbekistan and Hong Kong have taken a major step toward strengthening economic ties by agreeing to establish the Uzbekistan-Hong Kong Business Council, creating a new platform for trade, investment, and business cooperation.

The agreement was formalized through a memorandum of understanding signed between the Chamber of Commerce and Industry of Uzbekistan and the Hong Kong General Chamber of Commerce (HKGCC), The Caspian Post reports via the Chamber of Commerce and Industry of Uzbekistan.

The signing ceremony took place in the presence of Hong Kong Chief Executive John Lee Ka-chiu and Uzbek Prime Minister Abdulla Aripov.

The deal follows talks held during a recent visit by a Hong Kong delegation to Uzbekistan. During the meetings, Chairman of Uzbekistan’s Chamber of Commerce and Industry Davron Vakhabov and HKGCC Council Member Jeffrey Lam discussed opportunities to expand business and trade relations between the two sides.

The newly created council will serve as a permanent platform for dialogue between the business communities of Uzbekistan and Hong Kong. It will focus on promoting joint projects, increasing trade and investment flows, and strengthening long-term economic partnerships.

Plans include organizing business forums, business-to-business (B2B) meetings, trade missions, and knowledge-sharing initiatives designed to connect companies and investors from both markets.