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Following is a speech by the Financial Secretary, Mr Donald Tsang, at a dinner hosted by the Turkish Minister of Transportation in Istanbul tonight (Istanbul time:August 9):

Minister, distinguished guests, ladies and gentlemen,

I think the first thing I should say is: Iyi Aksamlar or Good Evening, for those who can not understand my Turkish!

I am delighted to be in this marvelous and legendary city of Istanbul, with its rich history and culture. This is my first visit to Turkey and today, after we arrived from Hong Kong, I had the chance to have a look around, to see some of your magnificent architecture and to really sense the history of this place. I have already experienced the warm Turkish hospitality I have heard so much about. And if time permits I might even get a chance to go bargain hunting in the Grand Bazaar, or to chat with a carpet trader over a glass of tea.

Hong Kong, we often say, is where East meets West. But, in a geographical sense, this really is where that happens - and you have a magnificent bridge spanning the Bosphorus and linking two continents to prove just that point. Now we also have a new 'air bridge' between East and West - between Hong Kong and Istanbul - which I am sure will foster new opportunities in trade, friendship and cultural exchanges between our two communities.

We already have a good bilateral trade relationship which has grown at an average rate of around 24% in value terms over the past five years. Hong Kong is an important entrepot for Turkey's trade with the Mainland of China and I am sure that this role will be sustained and expand as the Chinese economy continues to reform and open up. The major products we export or re-export to Turkey include watches and clocks, telecommunications equipment, computer parts and textiles yarn. Our major imports from Turkey include iron and steel, copper and textiles yarn. I think tourism 'exports' and 'imports' are likely to go up in both directions now that we have a direct air link.

Related to this, I am particularly pleased that visa-free access has been granted to HKSAR Passport holders and I would like to sincerely thank the Turkish Government for extending this facility to Hong Kong travellers from July 14. Visa-free access is an important issue for the Hong Kong Special Administrative Region and it is something we actively pursue across the globe. This is not only because Hong Kong is a regional transport hub and our people are keen travellers. It is also because it demonstrates the high degree of autonomy we have been promised - and are implementing - as a Special Administrative Region of the People's Republic of China. It is also a welcomed recognition of the integrity and security of the HKSAR Passport, which has been accepted for visa-free treatment by 50 countries.

Turkish nationals also enjoy visa-free access to Hong Kong for visits up to three months. Now that we have direct air links, I extend to you all the open hand of friendship, and an invitation to come and visit us in Hong Kong. You will arrive at our fantastic new airport and before you know it will be whisked by train or bus into the exciting heart of the city. I am sure you will enjoy your visit, just as I, and many more Hong Kong visitors after me, will remember your warm welcome.

And now, if I can get the pronunciation right, I would like to say a heartfelt:

"Tesekkur Ederim" or Thank You, for those who still can't understand my Turkish!

End/Monday, August 10, 1998

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