Hong Kong and China to become major wine market

Hong Kong and China to become world's eighth largest market for wine

An expression of interest is being called for a formation of a New Zealand Pavilion at the upcoming Hong Kong International Wine and Spirits Fair 4-6 November 2010 organized by the Hong Kong Trade Development Council (HKTDC). Ms Bonnie Shek, Director of HKTDC (Australia / New Zealand) quoted that "The second edition of the HKTDC Hong Kong International Wine & Spirits Fair was a triumph"

Exhibitor numbers more than doubled to 525, representing 34 countries and regions. Buyer numbers increased by 36% with almost 12,000 buyers from 62 countries & regions" Ms Shek adds "Hong Kong is rapidly maturing as Asia’s wine trading and distribution hub, with unrivalled access to the Chinese mainland market and this fair is its keystone event. Success in 2009 confirms this, with the fair attracting market leaders in wine and spirits distribution in the region, as well as winemakers and purveyors of wine, spirits, beer and other beverages."

Last year saw over 40 wineries come together under the New Zealand Pavilion, including Mr Paul Ham, Managing Director of Alpha Domus who comments “I met a lot of quality customers, particularly those from Hong Kong, the Chinese mainland and Taiwan. Everything was well organized at the fair. I already found a distributor through the exhibition to promote our wines.”

The Hong Kong International Wine and Spirits Fair is the key to the rapidly growing Asian market:
• Hong Kong is the first major economy in the world to impose no duty and no sales tax on wine.
• Hong Kong is the logical distribution point for the Chinese mainland market, which is forecast to reach US$870 million within the next decade.
• The Chinese mainland and Hong Kong account for more than 60% of the Asian wine market. As one market they are expected to become the world’s eighth largest market for wine.
• Hong Kong and the Chinese mainland wine investors account for some 40% of investment wines stored in the United Kingdom, some 100 million cases of wine.

For further information on how to join the New Zealand Pavilion visit the website http://hkwinefair.hktdc.com/index.htm or contact sydney.office@hktdc.org

ENDS

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