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Australia signs up for 'wine hub' campaign

Updated: 2009-04-17 07:27

By Teddy Ng(HK Edition)

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 Australia signs up for 'wine hub' campaign

Financial Secretary John Tsang (2nd left) proposes a toast with Secretary for Commerce and Economic Development Rita Lau (right) and Australia's Minister for Agriculture, Fisheries and Forestry Tony Burke at the memorandum of understanding signing ceremony yesterday. CNS

HONG KONG: Hong Kong oenophiles can look forward to seeing a lot more Australian vintages, thanks to a memorandum of understanding signed yesterday by the SAR and the Australian government.

The memorandum stipulated that the two sides will strengthen promotion and commercial co-operation on wine-related services. The government's investment arm, Invest Hong Kong, will assist Australian companies to stage wine auctions and furnish wine storage facilities in Hong Kong.

Australian wine merchants will help in creating a new wine center, and there will be extensive information exchanges.

Trade barriers will be reduced, as routine certification requirements are minimized.

Secretary for Commerce and Economic Development Rita Lau said the two sides can still demand certification if health and safety concerns arise.

Hong Kong's wine imports in 2008 increased to HK$2.9 billion, a remarkable 80 percent increase over 2007, after wine was exempted from import duties.

The value of wine imports from Australia also increased from HK$199 million in 2007 to HK$255 million last year.

Australia's Minister for Agriculture, Fisheries and Forestry Tony Burke said the wine market in Asia has grown rapidly over the past years, and Australia wants to occupy a larger share of it.

"We believe the hub for the market is in Hong Kong," he said. "Australia occupies a significant portion of the trade, and there is room for us to occupy a much greater proportion."

Lau said Hong Kong has a competitive edge in promoting wines because the city has an established reputation for protecting intellectual property, upholding the rule of law and maintaining relationships with trading partners.

She said Hong Kong is seeking to sign similar memoranda with Chile, the United States and Italy.

The latest memoranda is the third Hong Kong has signed with wine-producing countries. There have been earlier agreements with France and Spain.

A wine-dine festival will be organized in late October, and the Trade Development Council will hold its second home-grown international wine exhibition in November.

(HK Edition 04/17/2009 page1)

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