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Following is the speech by the Chief Executive, Mr Donald Tsang, at a luncheon in honour of the President of the Republic of Kazakhstan, H.E. Nursultan Nazarbayev, at Government House today (December 22) (English only):
Mr President, distinguished guests, ladies and gentlemen,
It is a great pleasure to welcome you back to Hong Kong, Mr President. Since you were last here five years ago, the bonds between Hong Kong and Kazakhstan have grown much closer. We have seen the opening of your country's Consulate General and a Kazinvest representative office here. Your official visit to Hong Kong this week further underlines the importance that we both attach to our bilateral ties.
Just 10 days ago, I joined the celebrations organised by the Consulate General for the 15th Anniversary of Kazakhstan's Independence. I am most impressed by your Country's achievement in the past 15 years since Independence. The various reforms introduced by your Government have spurred economic growth and lifted living standards. They have also provided a catalyst for Kazakhstan to engage the world through closer trade, financial and cultural links with external partners.
A good example of this engagement process was the conference held in Hong Kong earlier this month on investment opportunities here and in your country. It was a great success, and there is much interest in the business communities on both sides to explore opportunity for further business co-operation.
I know that a number of Kazakh companies are listed on the London Stock Exchange. Mr President, with the deep liquidity of our capital market, the Hong Kong Stock Exchange offers a very attractive alternative for Kazakh companies interested to raise funds. I feel encouraged by the productive meetings on this front between Kazakh businesses and our Hong Kong Exchanges and Clearing Limited. We look forward to having more quality Kazakh companies listed on our stock market.
Apart from fostering closer ties in financial services, there is scope for enhanced co-operation between Hong Kong and Kazakhstan in other areas such as tourism, air services and trade. Hong Kong offers Kazakh businesses two distinct advantages. First, we offer unrivalled access to the exciting opportunities in the Mainland of China. Second, we offer a superior platform for international businesses to manage their regional operations and to tap regional capital markets. Our legal system, low taxes, level playing field for business, clean administration and our prime location are amongst the main attractions that Hong Kong is able to offer and this have brought more than 3800 international companies to establish their regional operations here. We would love to see more Kazakh companies capitalising on these advantages that we offer.
To enhance connectivity between Hong Kong and Kazakhstan, Hong Kong and Kazakhstan will sign a bilateral Air Services Agreement this afternoon. This is a most timely development. With improved air links, the flow of trade and tourists in both directions will clearly benefit. And more new opportunities for collaboration will no doubt open up. And I offer to you. We could engage seriously in talking of abolishing visa requirement on both sides.
Mr President, with all that is happening, Hong Kong and Kazakhstan are set to become closer bilateral partners in the future. Now, all that remains is for me to propose a toast:
To the growing partnership between the Republic of Kazakhstan and the Special Administrative Region of Hong Kong. To Kazakhstan.
Ends/Friday, December 22, 2006
Issued at HKT 14:25
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