Hong Kong: Asia's largest distribution hub for Spanish wines. Exports in the
region up 24.6 percent in first seven months of 2008.
The Chinese city of Hong Kong has become the Chinese market¡¦s, as well as the
greater part of the Asian continent¡¦s, largest distribution hub for Spanish
wine. The bases behind this initiative are laid down by the Wine Sector Business
Co-operation Agreement, signed by the Spanish Ministry of Industry, Tourism and
Trade and the Government of Hong Kong Special Administrative Region¡¦s Trade
and Economic Development Agency for the People¡¦s Republic of China (HKSAR).
The aim of the agreement is to maintain the high growth rate of wine exports to
the region as, according to industry figures, Spanish wine sales to Hong Kong
reached £á2.5m in 2007, revealing a 57.6 percent increase over 2006. In the
first seven months of 2008, exports to the region came to £á1.3m, 24.6 percent
more than the same period in 2007.
On another note, wine consumption in Hong Kong grew at an annual rate of 7
percent, making it a very attractive market, all the more so if the fact that,
since 2008, wine has become a tax exempt product in the region, is taken into
The agreement establishes a framework of collaboration in various specific
areas, ranging from encouraging trade leads, wine exhibitions and trade fairs,
and boosting the city of Hong Kong as the centre for international wine trade
activities, to promoting collaboration between Spain and Hong Kong in areas of
training and wine culture marketing via tourism.
The agreement was signed as part of the agenda at the ¡¥Hong Kong-Guangdong
(Canton) Business Conference for Economic, Technological and Commercial
Co-operation¡¦, held in Madrid, which was opened by the Minister for Industry,
Tourism and Trade, Miguel Sebastián. This event was jointly organised by
the Government of the Hong Kong Special Administrative Region and the People¡¦s
Government of Guangdong Province, through InvestHK and the Department of Foreign
Trade and Economic Co-operation of Guangdong Province.
In addition, China and Spain signed another agreement in the same setting to
promote the participation of Spanish SMBs in the next Canton fair which will be
held in September 2009, with Spain acting as co-sponsor.
The Minister for Industry placed these initiatives within the ¡§Reinforced Plan
to Strengthen Spanish Presence in China¡¨, driven by his department. Within the
framework of the same project, Sebastián announced the coming launch of a
new Spanish Tourism Office in the Chinese Province of Guangdong, and revealed
that the new Spanish Consulate and Foreign Trade Offices in the Canton province,
approved recently by the cabinet, would be up and running ¡§before next
Currently, more than 600 Spanish businesses are located in Mainland China and
Hong Kong, 10 percent of which are implanted on the island, a thriving
technological and telecommunications centre, as well as the main gateway to the