‘Prosperity for generations’: Malaysia urges Hong Kong to tap Asean ‘as a bloc’

Business leaders and governments should think of Asean as a bloc with nearly 700 million people and an emerging middle class instead of individual countries when considering the vast trade potential of the region, Malaysian Transport Minister Anthony Loke said on Tuesday.

While Hong Kong was essential to the Association of Southeast Asian Nations as an international financial hub that promoted technological innovation with a well-regarded legal system, the bloc could also offer great opportunities to the city, Loke said at the Hong Kong-Asean Summit 2025.

Asean was Hong Kong’s second-largest trading partner last year, with total merchandise trade between the two sides totalling HK$1,289.6 billion (US$166 billion), accounting for 13.6 per cent of Hong Kong’s global merchandise trade. Loke pointed out there were avenues for further expansion given the regional grouping’s growing market, skilled workforce and strategic location.

“Look at Asean as a bloc, not as individual countries. This is a bloc where you have a 700 million population and an emerging middle class. Think about the possibilities,” he said at the summit organised by the South China Morning Post and held at The Fullerton Ocean Park Hotel Hong Kong.

He listed Hong Kong’s fintech solutions, green finance expertise and logistics innovation that could streamline trade across all 10 Asean countries and fund the region’s transition towards sustainable transport infrastructure.

As an illustration, Loke cited how a Hong Kong entrepreneur could order raw materials from Cambodia with smart systems automatically optimising shipping routes, handling documentation digitally and delivering goods to Hong Kong within days, the same way finished products reached customers in Asean through seamless cross-border payments and logistics.