The move, culminating in the launch this month of a new four-page section called 'Business Asia by Bloomberg', is aimed at giving readers a more comprehensive coverage of Asian business.
But it will also put the newspaper in direct competition with the Asian Wall Street Journal (AWSJ) and the Financial Times.
IHT Asia-Pacific deputy managing director, Achilles Tsaltas, said: "If I were the other papers, I would be nervous about this. It is a threat to their core readership."
The tie-up with Bloomberg could prove to be a big drawcard. However, the AWSJ was not overly concerned.
Winnie Wong, AWSJ managing director, said: "Over recent years, we've witnessed other publications make attempts to re-position themselves, sometimes repeatedly, to be seen as more relevant to readers in Asia.
Some of these publications are no longer with us, such as Asiaweek.
"Another strategy has been the quick-fix approach of outsourcing elements, rather than making a consistent investment in in-house resources."
The move by the IHT is aimed at expanding its readership base, from being a general interest paper targeting the region's affluent and elite readers to also attracting top business and investment decision-makers.
Tsaltas said the alliance with Bloomberg was valid only in Asia but that it could roll out globally in the near future. He added that it was the first time that Bloomberg had a print product dedicated to showcase its news service.
The IHT currently has a regional circulation of 78,000, and Tsaltas said the newspaper was looking to increase that figure to between 80,000 and 85,000 within the next 12 months. "Growth will be gradual and incremental, he said.
The content of the new section is drawn entirely from Bloomberg's global news organisation, with stories and analyses prepared for publication by IHT editors in Hong Kong.
The IHT will continue to run its existing package of global financial news, drawn from the New York Times, the Washington Post and the paper's own network of correspondents.
A major campaign has been planned around the launch of the new section.
This includes the Bloomberg Channel, the IHT's own TV programme, as well as print and online ads.
