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The Financial Secretary, Mr Donald Tsang, today (Tuesday) welcomes the Bahraini Prime Minister's agreement in principle to grant visa-free access to HKSAR passport holders.

This message was conveyed to the Financial Secretary during his call on the Prime Minister, HH Shaikh Khalifa bin Salman Al Khalifa, as part of his business mission to Bahrain.

"I am delighted to learn of this latest development, and I hope the formalization of this decision will complete soon. I look forward to its early commencement."

"This move clearly reflects the strong confidence of the Bahraini government on Hong Kong's future. Our economic, social and cultural ties with Bahrain will be strengthened by the improved travel convenience of Hong Kong residents."

"We continue to welcome warmly the Bahraini nationals to visit Hong Kong. They can enjoy a visa-free stay up to 14 days in Hong Kong," the Financial Secretary said after his meeting with the Prime Minister.

Bahrain will be the 60th country/territory granting visa-free access to HKSAR passport holders.

Bahrain is well known as an off-shore banking centre. The rapid development of Bahrain's financial industry is largely attributed to its favourable business environment. It has a stable legal administrative framework and sophisticated financial and physical infrastructure. Bahrain has one of the highest import/GDP ratios among the Arab countries.

Continuing with his business mission to the Middle East, the Financial Secretary networked with high level contacts of the Bahraini administration, including the Prime Minister, the Minister of Finance and National Economy, Minister of Commerce, Minister of Oil and Industry and the Deputy Governor of Bahrain Monetary Agency.

With Bahrain being the banking centre serving the Gulf region, the officials were keen to learn from Hong Kong's experience in the handling of the Asian financial crisis.

In fostering closer trading ties between Hong Kong and Bahrain, the Hong Kong delegation explored potential business opportunities with local officials and the Bahrain Chamber of Commerce.

The Hong Kong Trade Development Council today signed a Mutual Cooperation Agreement with the Bahrain Promotions and Marketing Board.

Mr Tsang would complete his one-day visit to Bahrain tonight with his courtesy call to H.E. Pan Xiang-kang, the Chinese Ambassador to Bahrain.

Mr Tsang will leave Bahrain tonight and is due back to Hong Kong in the afternoon of June 9.

Photo:The Bahrain Prime Minister, H.E. Sheikh Khalifa bin Salman Al Khalifa, conveyed to the Financial Secretary, Mr Donald Tsang, his agreement in principle to grant visa-free access to HKSAR passport holders.

End/Tuesday, June 8, 1999

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