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The Chief Executive, Mr Donald Tsang, began his first leg of visit to India in New Delhi today (October 26).
In the morning, Mr Tsang attended a briefing organised by a bank to keep abreast of the latest financial, economic and political developments in India.
He then addressed a luncheon co-organised by the Indian Chambers of Commerce and Industries and National Association of Software and Services Companies. Among the attendees were Indian business leaders from the information technology, telecommunications and high-tech sectors.
Mr Tsang introduced to the participants the development of the information and communications technology (ICT) in Hong Kong and the city's vision to develop itself into a hub for innovation, technical co-operation and trade.
"I believe that there is much in modern day science and technology that Hong Kong and India can offer each other," Mr Tsang said.
Emphasising the rapid growth of the ICT market in Mainland China and the close business relationship between firms in Hong Kong and those in the Mainland, particularly in the Pearl River Delta region, the Chief Executive encouraged Indian enterprises to make use of Hong Kong as a stepping-stone to gain access to the Mainland market.
At a meeting with the Minister of Finance, Mr Pranab Mukherjee, in the afternoon, Mr Tsang mentioned the unique advantages of Hong Kong as a global financial centre.
Noting that so far no Indian companies have listed in Hong Kong, the Chief Executive invited Indian firms to do so and take advantage of the growing range of Renminbi businesses Hong Kong is allowed to undertake.
Both sides agreed to expedite the conclusion of a comprehensive avoidance of double taxation agreement. Mr Tsang also proposed to increase the frequencies of flights between the two places, and asked the Indian authorities to consider granting visa free access to Hong Kong visitors, and recognising Hong Kong's arbitral awards.
In the evening, Mr Tsang officiated at the opening ceremony of the "Festive Hong Kong Week" organised by the Hong Kong Tourism Board. In the first eight months of 2010, more than 350,000 Indian visitors came to Hong Kong, an increase of more than 50 percent over the same period in last year.
He also met with the Minister of State (External Affairs), Ms Preneet Kaur, and attended a dinner hosted by the latter.
Ends/Tuesday, October 26, 2010
Issued at HKT 22:23
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