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FS takes part in adoption of APEC FMM joint ministerial statement

     The Financial Secretary, Mr John C Tsang, yesterday (August 30) took part in the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting and the adoption of a joint ministerial statement. Mr Tsang also met with a number of Russian ministers this morning (August 31).

     The joint ministerial statement adopted by APEC Finance Ministers' Meeting expressed concern that economic activity in a number of advanced economies has weakened and there are clear signs of slowing growth in the emerging economies that remain heavily dependent on external demand.

     The Finance Ministers reaffirmed their strong commitment to support growth and foster financial stability. "Specifically, we are committed to strengthening domestic demand where appropriate and restoring confidence, facilitating job creation, reducing high public deficits and debts, and implementing structural reforms to boost growth and reduce external imbalances," said the Finance Ministers.

     Mr Tsang was in a meeting with two Deputy Ministers of Agriculture Mr Dmitry Yuryev and Ilya Shestakov this morning. Both sides agreed that there is great potential for exporting Russian agricultural products to Hong Kong, especially seafood, livestock, fruit and flowers, etc. They agreed to organise visits for related trade and enterprises to enhance understanding.

     Later, Mr Tsang called on the Minister of Industry and Trade of Russia, Mr Denis Manturov. Mr Manturov gave an account of the opportunities and challenges in Russia brought by entering the World Trade Organization. He pointed out that Russia has every intention to enhance transparency to attract more investors. Mr Tsang said Hong Kong is willing to share experience with Russia. He suggested further promoting commercial exchange so that the business sectors in Hong Kong and Russia can have a better understanding of each other's markets.

     Mr Tsang also met with Russia's Finance Minister Anton Siluanov. They reviewed the deliberation at this year's Finance Ministers' Meeting. Mr Siluanov said that Russia is now planning its financial instructure and would like to take reference from Hong Kong's experiences. Mr Tsang invited Mr Siluanov to attend the Asian Financial Forum to be held in Hong Kong next January and meet with the Hong Kong's financial sector. Mr Siluanov agreed to actively consider the invitation.

     Mr Tsang will leave Moscow in the afternoon and return to Hong Kong tomorrow (September 1).

Ends/Friday, August 31, 2012
Issued at HKT 22:02


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