****************************************************
The Chief Executive, Mr C Y Leung, today (February 4) met with the Prime Minister of India, Mr Narendra Modi, in New Delhi on his first official visit to India.
At the meeting, the Chief Executive highlighted Hong Kong's role as the "super-connector" for Indian business to explore opportunities in the Mainland of China and the region. He remarked that the 40-person Hong Kong business delegation joining his visit to India comprises top business leaders from major chambers of commerce and professional services sectors, which represents Hong Kong's strength and underlines the tremendous business interest in India. He encouraged Indian government and business leaders to visit Hong Kong and meet with local business leaders in high-level round-table meetings to explore business opportunities together.
The Chief Executive announced after the meeting that Hong Kong and India will launch negotiations on an Investment Promotion and Protection Agreement (IPPA).
Noting that India was the world's ninth largest economy and ranked seventh among Hong Kong's trading partners in 2014, Mr Leung said, "With India's tremendous economic potential, trade and investment between Hong Kong and India are expected to expand continuously in the coming years. The IPPA will further strengthen the economic and investment ties between the two places, bringing mutual economic benefits."
Mr Leung added, "The negotiations will send a positive signal to the business communities of the two places, and help strengthen investor confidence and boost bilateral investment flows."
Mr Leung also thanked Mr Modi for the warm hospitality for him and the business delegation from Hong Kong. He pointed out that Hong Kong and India have longstanding community ties and there is a lot of potential for further deepening and broadening the people-to-people bonds, including student exchanges, between Hong Kong and India.
Ends/Thursday, February 4, 2016
Issued at HKT 14:54
NNNN