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The recovery of Asian economies and China's eventual accession to the World Trade Organisation (WTO) will provide plenty of opportunities for Canadian companies in Hong Kong and Asia, the Chief Executive, Mr Tung Chee Hwa, has told Canadian political leaders today (April 4, Hong Kong time).
In a full day of political calls in the Canadian capital Ottawa, Mr Tung met Canadian Prime Minister Jean Chretien, Foreign Minister Lloyd Axworthy and Finance Minister Paul Martin.
Mr Tung briefed the Canadian PM on Asia's economic revival and the opportunities emerging in Hong Kong in areas such as information technology, telecommunications, financial services and environmental protection.
"I think the future opportunities for Canadian firms are many in Asia as most of the countries in Asia recover from the financial turmoil of the past two and a half years," Mr Tung said after his meeting with Prime Minister Chretien.
"I also think that commercial opportunities for Canadian companies will increase as a result of China's accession to the WTO.
"Hong Kong will be an excellent base for Canadian firms who want to expand their business activities in Asia as a whole and on the Mainland of China."
Reform of the international financial architecture and the need for more transparency in short-term international capital flows were discussed with Finance Minister Martin.
Mr Tung said he and Mr Martin took the view that Hong Kong and Canada would continue to raise these issues internationally and seek support from other governments.
The successful implementation of 'One Country, Two Systems', the smooth operation of visa-free access to Canada for Hong Kong Special Administrative Region passport holders and China's accession to the WTO were discussed in the meeting with Foreign Minster Axworthy.
Mr Tung said he hoped visit would also enhance the very strong people-to-people bonds that existed between Canada and Hong Kong.
"There are half a million people originally from Hong Kong who are now Canadian residents living here in this wonderful country. And there are 150,000 Canadians who are now living and working in Hong Kong," he said.
"So it is a very important people-to-people relationship. And it's important that we have a dialogue about this so both sides understand what we are doing and what more can be done to enhance this relationship."
Earlier in the day, Mr Tung spoke with members of the Canada-Hong Kong Parliamentary Friendship Group, during which he discussed 'One Country, Two Systems' and Hong Kong's high-tech ambitions.
Later in the day, the Chief Executive paid a visit to Nortel, Canada's largest high-tech company and the biggest corporate investor in research and development.
During the visit Mr Tung was briefed on new telephone and Internet technology which was used to call up the Chief Executive's Internet homepage and the Government Information Centre.
Mr Tung and the Hong Kong delegation, which includes Secretary for Trade and Industry, Mr Chau Tak Hay, Information Co-ordinator Stephen Lam and Director of the Hong Kong Economic and Trade Office Toronto Donald Tong were later guests of Prime Minister Chretien at an official dinner.
Later today, Mr Tung returns to Toronto where he will deliver two keynote speeches on Hong Kong's economic development to a broad cross-section of business, government and community leaders.
Mr Tung will also be briefed on environmental issues and meet Toronto Mayor Mel Lastman.
Ends/Tuesday, April 4, 2000
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Photo 1 : The Chief Executive, Mr Tung Chee Hwa, and the Secretary for Trade and Industry, Mr Chau Tak Hay, are briefed on the latest telecommunications technology during a visit in Ottawa to Nortel, Canada's largest IT company.
Photo 2 : The Chief Executive, Mr Tung Chee Hwa, is welcomed to Ottawa by the Canadian Prime Minister, Mr Jean Chretien.
