| Abstract | While Russian president Boris Yeltsin battled with the second hostage-taking crisis in Chechnya, his country's trade delegation, headed by Valerii Pospelov of the Russian Federation Chamber of Commerce and Industry, visited Hong Kong. The trip, organized by the Trade Development Council and Cathay Pacific, aimed to step up bilateral trade between the territory and the former superpower, since Hong Kong companies are reluctant to send their goods to Russia for fear of non-payment. The low reputation of the country's banking system, which is combined with an image of high political risk, and an inconsistent legal and taxation framework also contributed to the reluctancy of Hong Kong companies. |
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