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Following is the transcript of remarks by the Chief Executive, Mr Donald Tsang, at a media standup after a breakfast meeting with Canada's Federal Minister for Industry, Mr David Emerson, in Vancouver today (October 24, Vancouver time) (English portion):
Chief Executive: I have a great experience, a great feeling coming back to Canada and visiting Vancouver yet again. The Minister and the Prime Minister visited us earlier in the year and we had a very good exchange. This morning, despite the very short period we had together, we did talk quite a lot. We not only congratulated the Minister on the Canadian initiative in Asia-Pacific region. I particularly talked about how we together can make it better. We talked about the possibility to better connect with an air services agreement between us, the issue of double taxation, protection of investment, promotion and so on. All these could be feasible and could be looked at. We would promote not only bilateral trade but also make the free trade agreement we have with the Mainland accessible to Canadian businessmen. We have very strong ties between Hong Kong and Canada. We have a quarter of a million Canadian citizens in Hong Kong, and one-eighth of Hong Kong families have one connection or another with a Canadian family. So it¡¦s a warm feeling to be back here, and in particular seeing the relationship going very well. And all these have reflected for instance in the seminar we are holding today. It has been very, very enthusiastically subscribed and this will give us an opportunity to bring to the attention of the Canadian businessmen the vast opportunities that are emerging in the development of Pearl River Delta around Hong Kong and the nine provinces in the neighborhood of Hong Kong providing immense new business opportunities, investment opportunities and bilateral trade. And I hope that the message will be effectively put across. So thank you very much. I am happy to be here. I just have a letter from the Prime Minister. He is very pleased that I am visiting here again, but this time I could not go to Ottawa to meet him. I will try to do that next time round. Thank you very much, Minister. It was a very good exchange. I hope the seminar later today will strengthen your confidence in what is happening in China and the business opportunities in Mainland China through Hong Kong.
Reporter: You talk about touching on suggestions for improving the Pacific gateway strategy. I am wondering if you could be more specific about concerns that would be kept and how Vancouver when compared to other west coast cities in North America in terms of looking ahead for that strategy?
Chief Executive: I just explained the strategic importance for businessmen trying to do business with the large Chinese Mainland market, Hong Kong provides a very familiar system for independent judiciary, for arbitration, for very low tax system...
Reporter: Sorry...I'm talking about concerns about the idea of gateway strategy in Canada...a syndicated strategy here in Canada...
Chief Executive: I welcome it...
Reporter: What keeps you do better...improvement, suggestion...
Chief Executive: We discussed with the Minister today the possibility of making good use of it. For instance, we could explore the possibility of the abolition of double taxation agreement between us, we can institute the investment protection agreement between us, and we can explore other facilities like air services agreement, we could expand it. And all these things would be helpful to encourage bilateral flow of people, goods and liquidity, and that would certainly enhance the business opportunities of both sides of the Pacific and create jobs for both of us.
Reporter: Competing with other Western port...
Chief Executive: We do...but there is one distinct advantage of Vancouver over many other ports. We have a quarter of a million Canadians living in Hong Kong. Vancouver is probably the most favoured destination of emigrants leaving Hong Kong entering Canada. Whenever we are here, there seems to be a lot of former Hong Kong residents living in Vancouver and they can act as a very effective bridge between this country and Hong Kong. So compared with other cities, I¡¦m sure Vancouver has an edge, by the mere fact that quite a lot of former Hong Kong residents are here. Vancouver has a shorter distance from Hong Kong in comparison to Toronto.
Reporter: We see a much bigger delegation from Guangdong...Are you worry that...?
Chief Executive: Naturally, Hong Kong is a much smaller place ¡V we have 7 million people and they (Guangdong) are many, many times larger than Hong Kong, so they are a larger delegation. We are dealing with financial services, so we are dealing with the topend of the market, whereas Guangdong is dealing with manufacturing, so it¡¦s quite a different composition.
We have shared our responsibilities, and there's a major division of work, not only Guangdong alone, the whole of Mainland China and Hong Kong. We provide some essential services for the nation as a whole, particularly in financial services, in logistics, skills. We provide market facilities, like convertible currency, a common law legal system which the Minister has talked about. I think we have a very good partnership.
Trade in investment is never sealed someday, we believe that a great potential for growth for everybody in the process of a win-win situation. That's why we are combining our promotional efforts with Guangdong, not only here, but also have joint promotions in Japan, Korea and also in the UK.
(Please also refer to the Chinese portion of the transcript.)
Ends/Tuesday, October 25, 2005
Issued at HKT 13:12
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