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CE continues his visit in Moscow (with photos/video)

     The Chief Executive, Mr Donald Tsang, started his second day of visit in Moscow today (September 1) by holding a breakfast meeting with the Chairman of the Russian-Chinese Business Council, Mr Boris Titov and the top management of a group of key companies in Russia.

     Mr Tsang outlined the advantages of doing business in Hong Kong, including its ideal location for establishing regional headquarters or regional offices. He also emphasised the new opportunities in Hong Kong arising from the growth of Renminbi business.

     Mr Tsang and the Secretary for Financial Services and the Treasury, Professor K C Chan, then met with the Russian Minister for Economic Development, Ms Elvira Nabiullina, who suggested the possibility of signing an Investment Promotion and Protection Agreement between the two places.

     In the afternoon, Mr Tsang led the Hong Kong business delegation to call on the Deputy Prime Minister and Minister of Finance, Mr Alexei Kudrin. They exchanged views on further cooperation in the area of finance and investor protection through the signing of a Memorandum of Understanding between the securities regulators of the two places. They also agreed that both sides should actively study the possibility of signing a comprehensive agreement on avoidance of double taxation. Hong Kong has already entered into similar agreements with several European countries.

     Mr Tsang and Professor K C Chan then met the First Vice-Speaker of the Russian Federation Council, Mrs Svetlana Orlova. They agreed on the tremendous potential for closer co-operation between Russia and Hong Kong in strategic areas including clean energy and information technology.  

     Mr Tsang and Professor K C Chan also met with the top management of several Russian enterprises specialising in aluminum production, freight and investment to understand their intention and plans to be listed in Hong Kong.  

    In the evening, Mr Tsang will attend the dinner hosted by Cathay Pacific Airways to mark the launch of direct passenger flights between Hong Kong and Moscow.

Ends/Wednesday, September 1, 2010
Issued at HKT 23:20


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