Israeli Vice Prime Minister and Minister of Industry, Trade and Labor Ehud Olmert arrived in Hong Kong Wednesday for a  two-day official visit to the Special Administrative Region, a government press release said.

Hong Kong's Chief Executive Tung Chee Hwa, and Secretary for Commerce, Industry and Technology John Tsang will meet with the vice prime minister on Thursday.

During his stay, Olmert will meet with local businessmen and the Jewish community here. He will also be the guest of honor in the signing ceremony of the "China-Israel Technology Cooperation and Promotion Center."

The center is a non-profit organization with the principal objective to promote technology and business cooperation between companies in China and Israel.

According to sources with the general consulate of Israel in Hong Kong, Israel's economic relationship with HKSAR has never been stronger. A record of 70 Israeli companies have established their regional headquarters in Hong Kong. Hong Kong is Israel's largest trading partner in Asia, and Israel is Hong Kong's second largest export market in the Middle East. The bilateral trade between the two markets in 2004 is estimated at US$3 billion.

(Xinhua News Agency January 20, 2005)