Chief Executive John Lee on Tuesday called for mutual respect from the United States in its relationship with Hong Kong, saying bilateral trade is "beneficial" to both sides.

He also said no country should interfere in the city's internal affairs, in response to a question before his weekly Executive Council meeting relating to potential policies to be introduced under US President-elect Donald Trump.

During Trump's first tenure in the White House, he signed an order to end preferential economic treatment for Hong Kong, while imposing sanctions on officials or former officials from the SAR and mainland China.

"Any country or economy which wants to develop trade relations or normal relations with another economy, then mutual respect is important. There should be respect so that there will be non-interference with local affairs, internal affairs. And also, Hong Kong attaches great importance to the rule of law," Lee said.

"I would urge all economies or countries to adopt that principle to develop relations with Hong Kong."

Washington has enjoyed significant economic benefits in Hong Kong with a trade surplus totalling US$270 billion over the past decade, Lee noted, adding that more than 1,200 American companies have set up operations in the city.

"These figures demonstrate the close economic ties between Hong Kong and the US, as well as the vast business interests of US businesses in Hong Kong," he said.

The chief executive added Hong Kong has all along supported multilateral trade while welcoming exchanges with different economies, including the US.