Hong Kong Commerce and Economic Bureau: Striving for Hong Kong's accession to the "Madrid Protocol" to expand the intellectual property economy, currently seeking approval from the central government.

The Director of the Hong Kong Business and Economic Development Bureau, Edward Yau, stated in an interview that the Hong Kong SAR government is seeking assistance from the central government to join the Madrid Protocol in order to further develop the intellectual property economy in Hong Kong and expand overseas markets. However, it is expected that it will take some time to join. According to official figures, the knowledge-intensive industries in Hong Kong contributed nearly one-third of the local GDP from 2019 to 2021, as well as around 30% of jobs. The Madrid Protocol is an international system that simplifies the process of trademark registration in multiple jurisdictions. However, because the protocol requires signatures from countries, the Hong Kong SAR government is seeking approval from the central government to extend its application to Hong Kong. In addition, Yau will be visiting Singapore. He mentioned that Hong Kong sees Singapore as a friend rather than a competitor. Furthermore, Hong Kong's biggest advantage is its role as a gateway to the mainland and the Greater Bay Area, a position that Singapore cannot replicate. Singapore, on the other hand, has advantages in Islamic finance, and as long as competition between the two is healthy and fair, there should be no problems. Yau also mentioned that the Hong Kong SAR government is interested in developing economic and trade cooperation with Eastern Europe, such as Hungary, and the Central Asian region. They will also be exploring opportunities in the Latin American and African markets.