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Acting FS' speech at opening ceremony of Winefuture Hong Kong 2011 (English only) (with photos)
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     Following is the speech by the Acting Financial Secretary, Professor K C Chan, at the opening ceremony of Winefuture Hong Kong 2011 at Asia World-Expo today (November 6):

Mr Pancho Campo (Director and founder of the Wine Academy of Spain), Mrs Jennie Mack (Managing Director of Asia Wine Service and Education Centre), distinguished speakers, guests, representatives of the wine industry, ladies and gentlemen,

     Good afternoon,

     It is my great pleasure to join you for this prestigious event this afternoon. Welcome to Hong Kong.

     We live in a changing world, and the world of wine is of course no exception. The emergence of new markets has presented exciting opportunities for the wine industry.

     Here in Hong Kong, we have been watching with keen interest the significant growth in demand for wine across Asia. The upward trend picked up momentum a few years back. To help our traders capitalise on the market opportunities that were emerging, we removed our duty on wine in 2008. With no VAT or GST, we became the first free port for wine among major economies. Now, Hong Kong has become a vibrant hub for wine-related businesses.

     Our total wine imports increased from US$204 million in 2007 to US$898 million in 2010. In the first eight months of 2011, the figure reached US$857 million, representing an increase of 65 per cent over the same period last year.

     Wine auctions have flourished in Hong Kong. Since the duty exemption, some 63 auctions have been held here, netting total sales of about US$426 million. We have firmly established our position as one of the three largest wine auction centres in the world. Industry figures show that Hong Kong topped the list in 2010. New wine-related companies have been set up and existing ones have expanded. New business forms have also sprung up, such as an urban winery and personalised wine storage areas.

     Hong Kong is privileged to be chosen as the venue for Winefuture. This event brings together some of the most influential and significant personalities in the wine industry from around the globe to share with us their insights on the future development of wine-related business. They include such world-renowned wine critics and connoisseurs as Mr Robert Parker and Ms Jancis Robinson.  

     Hong Kong has its fair share of wine connoisseurs and lovers. Mr Paulo Pong, our special guest here today, is one of them. Through these people, we have come to know a wide variety of wines. We have also learned to appreciate the wonderful chemistry between wines and different specialties on our dining table.

     With wider choice comes a higher level of sophistication. The demand for sommeliers and wine experts is such that many employers in the hospitality industry are now sending their staff to wine-related training courses. Our training institutions receive healthy subscriptions for courses such as those for wine appreciation. Wine-tasting events are flourishing. There is an insatiable demand for quality reference materials on wine in the Chinese language. We in the Government have been facilitating the enhancement of wine-related education through, for example, encouraging our training institutions to partner with their overseas counterparts in wine producing regions.

     We thank the Wine Academy of Spain for bringing this important event to Hong Kong. We enjoy a good partnership with Spain in wine promotion. We signed with them a wine co-operation agreement as early as 2008. Traders from Spain have also been actively participating in our key wine events, such as the international wine fair of the Hong Kong Trade Development Council, now Asia's largest wine exhibition.

     Hong Kong is an ideal location in Asia for MICE (meetings, incentive travel, conferences and exhibitions) visitors. Do stay longer here to experience more of Hong Kong. We hope that the hospitality and other support services provided by the Hong Kong Tourism Board will help bring you back to Hong Kong again and again in the years to come.

     Have a fruitful summit and a pleasant stay in Asia's world city.
     
     Thank you.

Ends/Sunday, November 6, 2011
Issued at HKT 13:52

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