Tatarstan can become a rocket site for entering to the Russian market for investors from Hong Kong

This statement was made by President of the Republic of Tatarstan in the meeting with the Hong Kong Minister of Finance John Tsang, who oversees in the government the relations with the Russian Federation.

Exchanging views on the economic and investment opportunities in Hong Kong and the Republic of Tatarstan, Rustam Minnikhanov emphasized that the main objective of the delegation visit in the Special Administrative Region of China – Hong Kong – the expansion of bilateral trade and economic, scientific and technological, educational and cultural cooperation.

«We have a great potential for cooperation, - said the President of the Republic. – Unfortunately, we do not use them fully. Meanwhile, Hong Kong investors can use Tatarstan as a rocket site to enter the Russian market».

In Hong Kong today also reached a preliminary agreement on signing of a cooperation agreement between the Hong Kong Trade Development Council (HKTDC) and Tatarstan Investment Development Agency. The document will focus on cooperation in the economy, including the active promotion of Tatarstan’s potential and enabling Hong Kong companies and businesses to enter the Russian market. Republic, added the head of the region, interested in developing cooperation with Hong Kong in the field of economics, innovation, logistics and infrastructure projects.

«Tatarstan and Hong Kong has a good prospects for mutually beneficial cooperation, - said Mr. Minnikhanov. - To do this, it is important to establish new contacts and discuss the possibility of organizing business visits from both sides – for better relations, creating real projects. We need an organized effort to help for increasing trade turnover between Tatarstan and Hong Kong».

About Hong Kong economy

Basic branches of the Hong Kong economy is the trade and transportation, finance, provision of various types of mediation services, tourism and hospitality. The service sector accounts for over 90% of GDP. Among the industries most developed electronic, electrical, textile, garment, ship repair and chemistry spheres.

Hong Kong – is one of the global leaders in the export of watches, toys, calculators, and various kinds of electrical and electronic products, textiles and many other industrial products. Special role in the economic development of Hong Kong plays tourism.

By the end of 2013 the foreign trade turnover of the Republic of Tatarstan and Hong Kong amounted to 1417.0 thousand dollars (an increase of 1.3 times compared to the same period in 2012). The share of exports and imports in the foreign trade of Tatarstan was 79% and 21%.

Tatarstan Investment Development Agency Press Service