Opportunity knocks: Secretary for Commerce, Industry & Technology Joseph Wong addresses a business seminar in Budapest.

Hong Kong is a good place to do business in its own right and as a gateway to the Mainland, Secretary for Commerce, Industry & Technology Joseph Wong says.

Addressing a business seminar in Budapest today, Mr Wong said Hong Kong is an ideal place for European companies aiming to expand into Asia. The Hungarian capital was his first stop on a five-day European visit.

"Hong Kong is a business-friendly city with a unique position as a two-way platform for international companies accessing the markets of China and Chinese firms looking to develop their businesses in the rest of Asia, the EU and globally," he said.

"One Country, Two Systems is working well. The factors that have made Hong Kong an attractive place for foreign investors down the years - rule of law, clean governance, a simple and low tax regime, unfettered flow of information and capital, a level playing field, lack of government interference - remain intact."

Hong Kong has distinct advantages, such as the "clustering" of professional services, infrastructure, and an excellent environment for the use of information and communications technology.

He said Hong Kong's international companies are also benefiting from the Closer Economic Partnership Arrangement: a free trade pact between two autonomous trading partners within the same nation which came into effect in 2004.