Hailing what he called the rising economic power and expanding connectivity of Asean, Lee said the city was “committed to creating new prospects for regional cooperation and mutual prosperity”.

He highlighted the unique edges enjoyed by Hong Kong under Beijing’s “one country, two systems” governing principle.

“This unique principle bestows upon us the unparalleled connectivity to the mainland of China and the rest of the world,” he said, adding that about US$79 billion (HK$618.8 billion) worth of merchandise trade between Asean and mainland China was routed through Hong Kong last year.

“The typhoon may stop some of the activities of Hong Kong, but it will not stop Hong Kong’s determination to do things that we want to do,” Lee said.

“Typhoons are no stranger to coastal countries and cities throughout Asia. Every time, we show resilience and join hands to overcome challenges. Every time, we emerge stronger than ever. That applies not just to typhoons, but also to regional cooperation.”

He also pointed to the city’s edge in being a “value-added gateway”.

“Value-adding, because in addition to our outstanding connectivity, we offer a business-friendly environment, a robust financial regulatory regime, and a simple and low tax system to traders, investors and companies, large, small and just starting up, all premised on the rule of law,” he said.

Hong Kong’s financial system had also remained resilient despite complexities posed by geopolitical tensions, high interest rates and the pandemic, he added.

Lee told the Asean leaders on Monday that Hong Kong could capitalise on its strengths as a “professional services hub” to help countries in the bloc realise projects such as infrastructural management and logistics as well as legal and trade arbitration.

In his speech, Lee also said Hong Kong looked forward to working with Asean members in strengthening travel convenience for people among the region.

He cited visitor arrivals from Thailand and the Philippines as having reached more than 90 per cent of pre-pandemic levels this summer, adding Malaysia’s move in July to extend its visa-free entry period for Hong Kong passport holders from one month to three had been “well-received”.

The Association of Southeast Asian Nations has been the city’s second-largest merchandise trading partner since 2010, with its value reaching an all-time high of US$165 billion, accounting for nearly 14 per cent of Hong Kong’s total trade with the world.

Asean was also the sixth-largest source of inward direct investment into Hong Kong and the third-largest destination for the city’s outward investment.

In his speech on Monday, Lee also described the support Hong Kong had received from Asean countries for its early entry into the pact as “overwhelming”, pointing to Asean Secretary General Kao Kim Hourn, who last month at the Belt and Road Summit said he welcomed the city joining the RCEP.

Thailand’s Parnpree, who delivered a speech after Lee, said Bangkok “supports and welcomes Hong Kong’s formal application to the RCEP”.

The Thai deputy prime minister said that Asean should look toward Hong Kong as “more than a gateway to China”.

“Rather, Hong Kong is a major investment destination in itself,” he said.

Liew Chin Tong, Malaysia’s deputy investment, trade and industry minister, focused his fireside chat remarks on the opportunities for Asean countries, even as they dealt with the complexities of US-China rivalry.

He said Malaysia would have to find space “in the middle” of the superpowers and Asean countries as a whole could take advantage of the geopolitical conditions if they stood together and took a common, non-aligned position.

Hashim Djojohadikusumo – the brother of Indonesia’s presidential hopeful Prabowo Subianto – told the summit it was vital for future leaders of the country to maintain its long-held neutrality.

“Once [Prabowo] becomes president in 2024, we’ll continue resolutely to that line of neutrality and non-alignment,” Hashim said. “We will be friends with the People’s Republic of China. We will continue to be friends with Australia, the United States, India, Japan and other countries.”

The Hong Kong-Asean Summit 2023 is being held in partnership with the Hong Kong-Asean Foundation and the Our Hong Kong Foundation.