Hong Kong is stepping up to lead the next wave of global commerce. The recent launch of the government’s GoGlobal Task Force marks a crucial step in increasing international economic engagement. By pooling resources across the trade, finance, legal and professional sectors, the initiative offers a streamlined, unified platform to assist mainland enterprises in expanding overseas, particularly in the world’s fastest-growing regions.
Traditionally, Hong Kong has focused on the US and European markets, leaving the significant potential of emerging markets such as Africa largely untapped. The task force is designed to address this issue by realigning priorities and exploring new avenues for growth.
China-Africa trade, a key part of the Belt and Road Initiative, surged to nearly US$300 billion in 2024. Africa is expected to have some 1.7 billion consumers by 2030, with abundant natural resources and rapidly expanding markets. Its young populations, rising digital adoption and significant urban growth offer strategic opportunities that closely align with Hong Kong’s GoGlobal Task Force priorities.
China’s extensive investment and trade presence in Africa – including infrastructure projects such as Nigeria’s Lekki Deep Sea Port and Tanzania-Zambia (Tazara) railway – has driven industrial growth and enhanced connectivity across the continent. This, combined with China’s presence in green economy supply chains, such as cobalt sourcing in the Democratic Republic of Congo and lithium sourcing in Zimbabwe, underscores Africa’s growing importance in the transition towards sustainable economies.
Although Hong Kong has a global network of 19 Economic and Trade Offices, including five on the mainland, the city lacks a dedicated presence in Africa. This underrepresentation makes it more difficult to support mainland enterprises to fully capitalise on emerging opportunities there. Closing this gap is also essential for Hong Kong to remain competitive.
As policy directions evolve, Hong Kong should seize the opportunity to establish its first office in Africa. It might consider adopting the Sydney co-location model, where the city’s Economic and Trade Office, Trade Development Council and Tourism Board share facilities. This would help streamline efforts, reduce duplication and encourage interdepartmental collaboration.
Financial Secretary Paul Chan Mo-po (front row, centre left), Secretary for Commerce and Economic Development Algernon Yau Ying-wah (front row, centre right) and other officials attend the launch ceremony of the GoGlobal Task Force on October 6. Photo: Sun Yeung
