RUSSIA AND HONG KONG HAVE POTENTIAL FOR COOPERATION

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MOSCOW, May 18 (RIA Novosti) - At a meeting in Moscow yesterday, acting Russian Foreign Minister Sergei Lavrov and Donald Tsang, the chief secretary of the administration of Hong Kong (a special administrative region of China), concluded that Russia and Hong Kong have a considerable potential for cooperation that it should be expanded.

The official report from the press and information department of the Russian Foreign Ministry said the sides discussed the further development of trade and economic relations between Russia and Hong Kong, prospects for increasing Hong Kong's investments in the Russian economy and the possibility of bilateral interaction within the framework of APEC.

"Sergei Lavrov called on the Hong Kong business community to more energetically enter the Russian market and develop bilateral mutually beneficial cooperation with Russian regions," reported the Foreign Ministry.

Mr. Lavrov and Mr. Tsang also mapped out the main areas of cooperation, which include trade, investments, transportation, banking, health care, culture, tourism and research.

The report also noted that the sides expressed their intention "to speed up preparations for signing a number of bilateral documents: an agreement on mutual assistance in legal affairs, an agreement on extradition of people for serving a sentence, an agreement on mutual trips of people, as well as a framework memorandum on cooperation in the cultural sphere."

An understanding was also reached to intensify contacts between Russia and Hong Kong in combating organized crime and money laundering.

"During his talk with Donald Tsang, Sergei Lavrov confirmed that Tung Chee-hwa, the chief executive of Hong Kong, was invited to pay an official visit to Russia at a time suitable for both sides," the Russian foreign ministry's report said.

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