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»»» 2008.11.15
»»» Hong Kong: Asia's largest distribution hub for Spanish wines. Exports in the region up 24.6 percent in first seven months of 2008.
»»» Spain and Hong Kong SAR have signed a wine agreement
Date : 2008.11.08 Source : http://www.winesfromspain.com
SPANISHWINE.HK

2008.11.08 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 account.

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 spring¡¨.

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 Chinese market.

 

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