Intercontinental Grand Standford Hong Kong Hotel, 70 Mody Road,Tsimshatsui East, Kowloon, Hong Kong.

22 October, 2008

As an international financial and business centre, Hong Kong has a strong presence of international business organisations. The establishment of the ICC - Hong Kong, China under the auspices of the International Chamber of Commerce in 1998 further demonstrates the cosmopolitan nature of Hong Kong's business community and Hong Kong's leading position as the hub for doing business in the Asia Pacific region.

Since its inception, the Hong Kong, China has been playing a proactive role in promoting Hong Kong's business interests overseas and the free flow of trade in goods and services in the world economy. I congratulate the Council on its achievements and wish it every success in pursuing this meaningful cause.

What are the major tasks of the International Chamber of Commerce? They include to promote the market economy, to foster the free flow of international trade in goods or services, to set international standards and practices for world business, and to facilitate trade through commercial arbitration. As the Hong Kong representative organization of the International Chamber, the Council is committed to these endeavours. As a member of the Hong Kong community, we see it to be our mission to enhance the international status of Hong Kong for businesses, to represent Hong Kong's business interest on the world forum in the formulation of policy and standards, and to contribute to Hong Kong's economic and social progress.

In the past five years, we never steered away from our direction, however difficult circumstances could have been or how strained our resources have been. We shared the happy and unhappy moments with everyone in Hong Kong.

As we step into our sixth year, we face a very different world environment - an environment of slow economic growth and overhanging security risks, and environment calling for consensus and congeniality. Yet it is pleasing that the Hong Kong economy seems to be finally turning around and business are now afforded with added avenues to exploit the opportunities of a growing and opening up China Mainland market and of the Closer Economic Partnership Arrangement between Mainland and Hong Kong. At the same time, it is incumbent on us in Hong Kong to work together to maintain an attractive environment for business to grasp those opportunities, to fortify the values and institutions which have brought us success, and to align ourselves to international practices and norms, from e-commerce to corporate governance.

Indeed, the International Chamber does not shy away from corporate citizenship seeking a balance between the creation of wealth and social contribution. It took the lead to respond to the Global Compact pronounced by Mr. Kofi Annan, Secretary - General of the United Nations, which proposed that business and the United Nations should work together in the areas of human rights, labour standards and the environment. This year the International Chamber has launched the World Business Awards in support of the United Nations Millennium Development Goals in conjunction with United Nations Development Programme (UNDP) and the Prince of Wales International Business Leaders Forum. The Goals are aimed to reduce poverty, hunger, disease, illiteracy, environmental degradation and discrimination against women. As businesses globalise and as economies become increasingly interdependent, so would social development evolve to be an international issue, and issue which businesses worldwide must accept. We at the Council are ready to work with partners in Hong Kong in the pursuit of business growth with social progress.