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Chief Executive Donald Tsang and Russia's Deputy Prime Minister and Minister of Finance Alexei Kudrin agree both sides should study the possibility of signing a comprehensive agreement on avoidance of double taxation.
Mr Tsang led a Hong Kong business delegation in Moscow yesterday to meet with Mr Kudrin. They exchanged views on cooperation in finance and investor protection through signing a Memorandum of Understanding.
Earlier in the day, Mr Tsang attended a breakfast meeting with the Russian-Chinese Business Council chairman Boris Titov and the top management of key companies in Russia.
Mr Tsang outlined the advantages of doing business in Hong Kong, including its ideal location for establishing regional headquarters or regional offices. He also emphasised the new opportunities in Hong Kong arising from the growth of Renminbi business.
He and Secretary for Financial Services & the Treasury Prof KC Chan later met with Russian Minister for Economic Development Elvira Nabiullina, who suggested the possibility of signing an Investment Promotion & Protection Agreement between the two places.
They then met the Russian Federation Council's First Vice-Speaker Svetlana Orlova. They agreed on the tremendous potential for closer co-operation between Russia and Hong Kong in strategic areas including clean energy and information technology.
Mr Tsang and Prof Chan also met with the top management of several Russian enterprises specialising in aluminium production, freight and investment to understand their intention and plans to be listed in Hong Kong.
In the evening, Mr Tsang attended the dinner hosted by Cathay Pacific Airways to mark the launch of direct passenger flights between Hong Kong and Moscow.
He said the new direct flights will give an additional lift to trade and tourism between both places and make Hong Kong an even more effective connecting hub for business travellers and tourists from Russia to destinations in the Mainland, South East Asia and beyond.
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