Following is the speech by the Financial Secretary, Mr Paul Chan, at Brazil's Independence Day Reception today (September 9):

Ambassador Valler (Consul-General of Brazil in Hong Kong, Mr Wladimir Valler Filho), Deputy Commissioner Pan Yundong (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region), Consuls-General, distinguished guests, ladies and gentlemen,

    Good afternoon.

     It's a pleasure to be here, today, in celebration of Brazil's National Day – the 203rd anniversary of its Declaration of Independence. On this special occasion, we honour not only the rich history and culture of Brazil but also the enduring friendship between our peoples.

     Brazil is a country of enviable superlatives. The world's fifth-largest nation in area, it's also the seventh-largest in population, with some 213 million people.  

     As Latin America's largest economy, Brazil has built an impressive and diversified industrial base, with globally competitive companies spanning agriculture, manufacturing, aerospace, metallurgy, services, and more.

     I'm pleased to say that Brazil is also our key trading partner in Latin America. Last year, Brazil was Hong Kong's largest import source and second-largest export market in the region. Bilateral merchandise trade between our economies last year reached US$3.4 billion - an increase of more than 18 per cent year on year. These figures speak to the strength and potential of our economic ties.

     At a time when protectionism and unilateralism are on the rise globally, Brazil continues to champion multilateralism and international co-operation. It has been a steadfast partner to our country, China, in building a multipolar world and a more sustainable planet. These shared values are more important than ever, as we work together to build a more inclusive and resilient global community.    
 
     Last year marked the 50th anniversary of diplomatic relations between China and Brazil, when President Xi Jinping paid a state visit to Brazil. It was a milestone celebrated with the signing of over 30 bilateral agreements. And during President Lula da Silva's state visit to our country in May this year, a further 20 co-operation agreements were concluded, covering a wide range of areas including science and technology, digital economy, finance, and more.  

     This deepening of co-operation between Brazil and China opens up new and exciting avenues for Hong Kong to strengthen its engagement with Brazil. Under the unique "one country, two systems" framework, Hong Kong serves as a vital bridge between China and the rest of the world. We are well positioned to facilitate and expand bilateral ties across business, trade and innovation. 

     Hong Kong offers a world-class business environment, underpinned by the rule of law, a free and open economy, and a regulatory regime that is aligned with the best international standards and enriched by a vibrant international and diverse community. These core strengths continue to earn us high recognition in global competitiveness rankings and positive feedback from international businesses operating here.

     In trade, our zero-tariff regime, efficient logistics, and seamless customs clearance make Hong Kong an ideal gateway for Brazilian goods entering the Greater Bay Area and the broader Chinese and Asian markets.   

     One area of particular promise for future collaboration is innovation and technology. Brazil leads Latin America in the number and diversity of its start-ups, reflecting a dynamic and entrepreneurial spirit. Likewise, Hong Kong is emerging as a leading I&T hub, bolstered by the strength of the Greater Bay Area, which hosted an innovation cluster that tops the world in a recent ranking by the World Intellectual Property Organization. 

     We are actively attracting global talent, companies and start-ups to join our thriving innovation ecosystem, with nearly 30 per cent of start-up founders coming from outside Hong Kong.

     It helps that Hong Kong is Asia's leading financial centre, offering a full range of funding options, with deep liquidity, exceptional professional services, and unparalleled international connectivity. For start-ups and innovators, launching here is effectively an international seal of approval. If a start-up can thrive in Hong Kong, it is likely to succeed elsewhere. 

     Of course, our growing ties are not limited to business alone. We welcome Brazilian music, dance, food and drink, entertainment and, yes, football, too. I had the pleasure of enjoying a taste of Brazilian culture in June, at the opening ceremony of "Extravaganza! When Brazil Meets Hong Kong", down by the harbour. It was a joyful and colourful celebration that added vibrancy to Hong Kong's calendar as Asia's events capital. 

     I am delighted to hear that Brazil's "Extravaganza" will return to Hong Kong next year, and I look forward to even more cultural exchanges that bring our communities closer together. 

     On this note, I wish you a happy national day. Thank you very much. 

Ends/Tuesday, September 9, 2025
Issued at HKT 15:15

NNNN