Email this article news.gov.hk
Speech by FS at Cathay Pacific Inaugural Flight Dinner in Dusseldorf (English only) (with photo)
**********************************************************

     Following is the speech by the Financial Secretary, Mr John C Tsang, at Cathay Pacific Inaugural Flight Dinner in Dusseldorf tonight (September 24, Dusseldorf time):

John (Slosar), Your Excellencies, distinguished guests, ladies and gentlemen,

     Good evening.

     I am delighted to be here tonight, to be part of this Gala Dinner, celebrating another Cathay Pacific Airways first: the launching of direct passenger flights between Hong Kong and Dusseldorf, the captivating German city of business and pleasure.

     I arrived this morning and spent the afternoon in Duisburg, visiting the world's largest inland port, getting a better appreciation of how logistics continues to shape Dusseldorf and the region that surrounds it. Indeed, more than 150 million people live within a radius of 500 kilometres of Dusseldorf.

     That dynamic region, spreading out in waves from Dusseldorf, accounts for nearly 32 per cent of the European Union's total population. Even more impressive, it's responsible for fully 50 per cent of the EU's purchasing power.

     Thanks to its enviable location at the heart of Europe, Dusseldorf today is the focal point of the EU - buoyed, of course, by the excellent connectivity of its river, ocean, road, rail and air transport.

     In that, Hong Kong and Dusseldorf have a good deal in common. Hong Kong is also strategically located: at the heart of Asia and the southern gateway to Mainland China, we are the perfect pivot between East and West. From Hong Kong, you can reach all major Asian economies within four hours' flight time, and half the world's population is no more than five hours from Hong Kong.

     Over 100 airlines operate some 1 100 daily flights between Hong Kong International Airport and some 180 destinations worldwide.

     No less important, the airport links Hong Kong, and global business, to 45 Mainland destinations. An integrated, multi-modal network, it also connects passengers, by land and by sea, to the Mainland's Pearl River Delta and international destinations.

     It's this incredible connectivity that underpins Hong Kong's role as a regional and international aviation hub.

     Hong Kong's strength is supported by a wide network of air services arrangements. Indeed, Hong Kong has signed Air Services Agreements with 64 aviation partners. This brings vibrancy to our aviation industry and opens up new opportunities within a reassuring legal framework.

     The Air Services Agreement between Hong Kong and Germany, by the way, was signed 20 years ago and has been expanded a few times over the years, allowing both sides to respond to market needs in a flexible manner.

     Hong Kong International Airport continues to enjoy tremendous traffic growth. Today, it's the world's busiest airport for cargo and the third busiest airport for international passengers, after Dubai and Heathrow. Last year, the airport welcomed more than 63 million passengers and handled 4.4 million tonnes of cargo, up 6 per cent, year on year.

     To keep growing, to respond to ever-increasing air traffic demand, our airport is undergoing extensive expansion. With the completion of a number of projects at year's end, Hong Kong International Airport will be poised to serve an additional 10 million passengers a year.

     That should satisfy demand for the medium term. Beyond that, our plans include a third runway, along with enhanced terminal and cargo-handling facilities.

     It is our plan to commission the three-runway system in 2023. With the three-runway system in place, our airport capacity will soar, taking in 100 million passengers and 9 million tonnes of cargo annually by 2030. That means increases of 60 per cent and 100 per cent, respectively, from current levels.

     And that's not all that will take off. The three-runway system is expected to bring about additional economic benefits of some US$60 billion over a 50-year period, up to 2061. It will also create some 280 000 direct, indirect and induced employment opportunities. With global trade continuing to move eastward, you can count on Hong Kong logistics to lead the way.

     Back to the present, I'm pleased to note that Germany is Hong Kong International Airport's second biggest passenger market. It's also our top European cargo market. Our airport connects with Frankfurt, Leipzig and Cologne by freighter, and Frankfurt, Munich and now Dusseldorf via direct passenger flights.

     Cathay Pacific's new direct passenger flights between Hong Kong and Dusseldorf add another desirable dimension to Hong Kong-German relations. And in so many ways, bringing fresh promise to our business and trade ties, to our respective roles as regional trade fair capitals, and to our cultural and tourism development.

     I'll certainly drink to that. This good evening, of course. And, in the spirit of cultural, and convivial, discovery, just as soon as I can find my merry way to the Altstadt (old town) for a taste of the altbier (old beer). As the saying goes, "When in Dusseldorf ... (you know)."

     I wish Cathay Pacific the best of success with its new service to the great city of Dusseldorf.

     Thank you very much and have a good evening.

Ends/Friday, September 25, 2015
Issued at HKT 03:34

NNNN

Photo
Print this page