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The Financial Secretary, Mr John C Tsang, is leading a high-level business delegation on a visit to Brazil to strengthen Hong Kong's connectivity with the rapidly growing market in South America. The visit runs from December 5 to 8.
Mr Tsang and the delegation visited Brazilian conglomerate Cosan this morning (December 7, São Paulo time). Cosan is the largest sugar producer in Brazil and one of the world's largest producers of sugar and ethanol. It is the first Brazilian-owned company to be traded directly on the New York Stock Exchange.
At a business luncheon organised by the Trade Development Council, Mr Tsang outlined the advantages of doing business in Hong Kong. He said that the Closer Economic Partnership Arrangement and Hong Kong's ever growing business and transport connections with Guangdong Province have unleashed multiple business opportunities for foreign companies incorporated in Hong Kong. Mr Tsang also encouraged more Brazilian firms from all sectors to consider the capital-raising potential of listing in Hong Kong.
In the afternoon, Mr Tsang and the Hong Kong delegation visited the Brazilian stock exchange, BM&FBOVESPA, a company created in 2008 through the integration of the São Paulo Stock Exchange and the Brazilian Mercantile and Futures Exchange.
During a tour of the BM&FBOVESPA trading floor, Mr Tsang learned more about the development of the leading exchange in Latin America and the second largest in the Americas.
Later in the afternoon, Mr Tsang had a meeting with the Mayor of São Paulo, Mr Gilberto Kassab. He also paid a courtesy call on the Chinese Consul General in São Paulo, Mr Sun Rongmao.
Tomorrow (December 8, São Paulo time), Mr Tsang will attend a luncheon, hosted by HSBC, with the São Paulo business community to promote closer economic and financial ties between Hong Kong and Brazil, before concluding the Brazil visit.
The Financial Secretary and the Hong Kong business delegation's Latin America tour covered Chile and Brazil. They visited Chile from December 1 to 4, and Brazil from December 5 to 8.
Ends/Wednesday, December 8, 2010
Issued at HKT 10:44
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