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Speech by SEDL at Cathay Pacific Airways/DHL joint venture cocktail reception

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Following is the speech by the Secretary for Economic Development and Labour, Mr Stephen Ip, at the Cathay Pacific Airways (CPA)/ DHL joint venture cocktail reception today (October 9) (English only):

James, Mr Dorken, Victor, ladies and gentlemen,

It is my pleasure to be here this morning to witness the joint venture between Cathay Pacific and DHL following DHL's franchise agreement with the Airport Authority last week to develop an Express Cargo Terminal at the Hong Kong International Airport. These important strategic decisions reflect DHL's confidence in Hong Kong. The joint venture will enhance Hong Kong's status as an express cargo and logistics hub. I am glad that at least 700 jobs will be created as a result of your investment.

It will also lead to the expansion of the operation of both Cathay Pacific and Air Hong Kong in terms of fleet size and number of destinations served. These expanded services will strengthen Hong Kong's air services network and facilitate the growth of the local express cargo industry.

I can assure you that the Government will give full support to your operation here. Together with the Airport Authority, we will ensure that our Airport has adequate facilities to handle the forecast increase in traffic demand. We will also support the Airport Authority's initiatives to enhance the connectivity of the Airport to extend its cargo catchment area.

Ladies and Gentlemen, I wish the joint venture of CPA and DHL every success. Thank you.

End/Wednesday, October 9, 2002

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