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Hong Kong Commissioner for Economic and Trade Affairs, USA, Mr Donald Tong, and Director of the Hong Kong Economic and Trade Office, San Francisco (SFETO), Mr Jeff Leung, have completed a four-day visit to Washington and Oregon covering the cities of Seattle, Olympia, Corvallis, Salem and Portland.
Mr Tong called on the Governor of Washington, Ms Christine Gregoire and Governor of Oregon, Mr Ted Kulongoski to update them on the latest development of Hong Kong and to further strengthen the trade and economic ties between Hong Kong and the two states.
Washington and Oregon are among the top four wine-producing states in the United States, and Mr Tong took the opportunity to promote Hong Kong as a wine hub during his week-long visit.
At a reception co-organised by SFETO and Washington Wine Commission as well as at other speaking engagements in Washington and Oregon, Mr Tong said Hong Kong had fostered a conducive environment for wine trading and development of wine-related business.
"Our Government has eliminated the 40% duties on wine since February 2008, making Hong Kong the first free wine port among major economies. We have also introduced a number of supportive measures in areas such as customs facilitation, forging closer co-operation with wine trading partners, manpower training and combating wine counterfeits."
In the last two years, wine trading and distribution business in Hong Kong has continued to flourish. "In 2008, the value of our wine imports jumped 80% year-on-year to around US$370 million after the elimination of wine duty. In 2009, imports further increased by 41% year-on-year to US$517 million. This is more than double the total value of wine imported for the whole of 2007 before wine duties were eliminated. Total US wine exports to Hong Kong amounted to US$42 million in 2009, four times higher than that of 2007," Mr Tong said.
Auction houses have been active and doing well in Hong Kong. A total of 14 auctions were held in 2009 with sales amounting to US$64 million, making Hong Kong the second biggest centre for wine auctions after New York, he said.
He also commented that the second International Wine and Spirits Fair organised by the Hong Kong Trade Development Council last November was very successful, attracting 525 exhibitors from more than 34 countries and regions. More than 20 exhibitors were from the United States. Mr. Tong encouraged more US vineyard owners and wine distributors to participate in the upcoming International Wine and Spirits Fair, which will be held in Hong Kong in November.
While Hong Kong is an important wine market in itself, Mainland China is another key market. "Some trade experts expect wine imports into Mainland China to grow to as much as US$870 million by 2017, or 58% of the Asian market, excluding Japan. To provide facilitation measures for the increasing volume of wine that goes through Hong Kong into the Mainland, we have reached agreement with Mainland Customs on customs facilitation measures for wine imports into the Mainland. This includes pre-valuation of wine duty before a wine shipment is exported from Hong Kong to the Mainland and compressing the clearance time at Mainland ports for wine that has not yet gone through the duty pre-valuation.
"These facilitation measures will increase transparency and certainty for Hong Kong's wine traders to better tap the business opportunities arising from increasing demand for wine on the Mainland and help strengthen Hong Kong's position as the wine trading and distribution hub in the region," Mr Tong said.
During the four-day visit, Mr. Tong addressed business and community leaders at a number of speaking engagements co-organised by SFETO and the Association of Washington Business; Hong Kong Association of Washington; Wine Research Institute and College of Business of the Oregon State University; Strategic Economic Development Corporation; Salem Area Chamber of Commerce; and World Affairs Council of Oregon.
Mr Tong also met with the Speaker of the Oregon House of Representatives, Mr Dave Hunt; Director of the Washington State Department of Agriculture, Mr Dan Newhouse; Assistant Director of Oregon Department of Agriculture, Mr Dalton Hobbs; Mayor of Seattle Mr Mike McGinn; Mayor of Olympia, Mr Doug Mah; and Executive Director of Oregon Wine Board Mr Ted Farthing.
Ends/Wednesday, February 17, 2010
Issued at HKT 18:41
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