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FS discusses air services, investment pact with Indian Finance Minister (with photos)

    The Financial Secretary, Mr John C Tsang, who is leading a business delegation to India, today (December 14) met with the Indian Minister of Finance, Shri Palaniappan Chidambaram.

     During the meeting, both sides exchanged views on a number of areas of mutual interest.

     Mr Tsang raised with the minister the need for increased and more convenient air services between Hong Kong and India in order to cope with growing demand arising from increased business cooperation between the two places.

     Mr Tsang said he hoped air services negotiations with India that will start next week will come up with an agreement to the benefit to the two sides.

     Another issue brought up at the meeting was negotiations for an Investment Promotion and Protection Agreement (IPPA) between Hong Kong and India. Both sides recognised the need for negotiations that started in 2003 to resume.

     Also discussed this morning was the question of double taxation. It was hoped that an agreement can be reached on the matter so as to promote further business cooperation and exchange of talent between the two places.

     Later in the day, the Financial Secretary made a speech at a business luncheon hosted by the Standard Chartered Bank and spoke at a seminar organised by the Hong Kong Trade Development Council.

Ends/Friday, December 14, 2007
Issued at HKT 18:35


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