The Chief Executive of Hong Kong Special Administrative Region (HKSAR) Donald Tsang said in Tokyo Wednesday that recovery from the global financial crisis would be swifter and less painful if economies acted together in the spirit of openness and transparency and promote fair competition.

According to the press release from the Information Services Department of HKSAR government, Tsang said at the Japan National Press Club on the third day of his stay in Tokyo that Hong Kong sees an opportunity to further open its door to trade and investment with neighbors across the boundary on the Chinese mainland and with partners in the region including Japan.

"Hong Kong, Guangdong and Macao, all part of the Pearl River Delta (PRD) region, are working to forge a closer partnership in a wide range of fields to strengthen intra-region connectivity, remove barriers to trade and investment, enhance environmental protection, and promote innovation and technology," Tsang said.

He added that Hong Kong was moving ahead with 10 infrastructure mega-projects to better connect Hong Kong to cities in the PRD region and to create about 250,000 jobs.

"I was particularly encouraged by a recent survey by the Japan Center for Economic Research (JCER) based here in Tokyo. Hong Kong was rated No. 1 in the world in the JCER's Potential Competitiveness Ranking 2008. We have remained in first place for four years in a row," the Chief Executive said.

Tsang started the day by visiting a virtual reality media laboratory in Tokyo. He experienced the use of advanced virtual reality technology in a virtual tour of world heritage, to have a better understanding of the development of creative industry in Japan.

Tsang also officiated at the launch luncheon of the "Meetings and Exhibitions Hong Kong" (MEHK) Japan office which is a new agency of the Hong Kong Tourism Board dedicated to providing services and support for meetings, incentive travel, conventions and exhibitions in Hong Kong.

In the evening, the Chief Executive will launch the Japan-Hong Kong Tourism Exchange Year at a dinner reception to further promote two-way travel between the two places.

Tsang will leave Japan for Seoul, South Korea on Thursday morning, the press release said.

Editor: Yan