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Following is the speech (English only) by the Chief Executive, Mr Donald Tsang, at a luncheon for the Prime Minister of Hungary, Mr Ferenc Gyurcsany, in the Ritz Carlton Hotel today (September 10):
Prime Minister, Ms Dobrev, distinguished guests, ladies and gentlemen,
Good afternoon. On behalf of the people and the Government of the Hong Kong Special Administrative Region, it is my great honour to welcome you and your delegation, Prime Minister. I am especially delighted because I have been lucky enough to visit Budapest three times - twice as a tourist and once as Hong Kong's Financial Secretary. Having personally experienced the charms of Hungary makes it that much easier for me to help promote government, business and tourism ties between us.
Prime Minister, I am extremely pleased that our two governments will sign an MOU this afternoon on cultural co-operation. The Hong Kong SAR Government places great emphasis on nurturing our cultural industries. And Hungary, of course, has much to offer the world in the cultural sphere. Hong Kong audiences have experienced the pleasure of hearing the Budapest Festival Orchestra being led by the celebrated conductor Ivan Fischer. And this evening is the opening of the retrospective film show of the acclaimed director Bela Tarr.
Prime Minister, I congratulate you on your successful visit to Beijing to continue building strong ties between our two nations. You had the opportunity to see first-hand the magnitude of our country's rapid and orderly economic development. It is also fitting that you are wrapping up your China trip in Hong Kong. As an international financial hub with advantages like the rule of law and the world's freest economy, and as the business services and logistics centre of the Pearl River Delta, known as "the factory of the world" today, Hong Kong plays an extremely important role in our country's development.
I also offer our congratulations to the Republic of Hungary on joining the European Union last year. This has fortified Hungary's position as a trade and logistics hub, and as one of the leading economies in the fast-growing Central Europe region. It has also prompted more Hong Kong businesses to seek strategic partnerships with Hungarian companies.
We in Hong Kong are well aware of the advantages of economic co-operation. Hong Kong is the largest external investor in the Mainland, helping the Pearl River Delta (PRD) become the world's fastest-growing manufacturing basin. And Hong Kong handles the lion's share of the PRD's exports. Combining the PRD's manufacturing advantages with Hong Kong's services - financial, legal, accounting, marketing, logistics and supply-chain management - could be a lucrative business model for Hungarian companies.
Our economic co-operation with the Mainland extends to our so-called "rival" in the Mainland, Shanghai, where many of the impressive developments are funded by Hong Kong investors. We are also in the process of creating a huge regional economy involving nine southern Chinese provinces, Macau and Hong Kong. With a population the size of the EU, this new Pan-PRD grouping has tremendous potential. Taking into account CEPA, our free trade pact with the Mainland, there will be many opportunities for Hungarian business people to invest in this massive new market through Hong Kong.
New investment would add to the international flavour of Asia's world city. The Hungarian community in Hong Kong is relatively small, but active and growing. Trade between Hungary and Hong Kong grew by 41 per cent last year and surged a further 50 per cent in the first half of this year. Hungarian technology is being used in our smart ID cards and at our border with the Mainland. More and more Hong Kong tourists are putting Hungary on their must-visit list. We have an air services agreement in place, so I hope we can have direct flights soon.
As for the finer things in life, a Hungarian restaurant has recently opened in Central, and Hungarian wines are gaining popularity in Hong Kong [, including my favourite, Egri Bikaver]. From culture and technology to trade and tourism, new opportunities are emerging for Hong Kong and Hungary to co-operate and mutually prosper in a variety of areas.
Ladies and gentlemen, to paraphrase a famous line from an Oscar-winning movie, Casablanca, made by a Hungarian-born director, "Prime Minister, I think this is the beginning of a beautiful friendship."
And now, ladies and gentlemen, please rise and join me in a toast:
"To you, Prime Minister Gyurcsany and Ms Dobrev, and to the bright promise of the Hungary-Hong Kong partnership. To Hungary."
Ends/Saturday, September 10, 2005
Issued at HKT 14:16
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