The Secretary for Commerce and Economic Development, Mr Algernon Yau, arrived in Auckland today (August 12) to continue his visit to New Zealand.

     Upon arrival, Mr Yau had a lunch meeting with representatives of the New Zealand Winegrowers to learn about the latest developments in the local wine industry and explore further collaboration between Hong Kong and New Zealand on wine and liquor promotion.

     Mr Yau shared with them Hong Kong's advantages as a wine and liquor trading hub and its recent reduction of liquor duty by introducing a two-tier liquor duty system to encourage the trade and auctions of high-end liquor. This strategic policy adjustment is part of Hong Kong's efforts to strengthen its position as an international trading hub and create a more business-friendly environment for both domestic and international companies including New Zealand ones.

     Between 2013 and 2023, imports of spirits in Asia grew by almost 80 per cent, a significantly faster rate than the global increase of 42 per cent in the same period. The Mainland is now one of the largest importers of spirits. Mr Yau said that with Hong Kong's strategic location and unique advantages under the "one country, two systems" principle, the city is the best two-way platform for New Zealand's wine and liquor trade to tap into the fast-growing Asian and Mainland markets.

     In the afternoon, Mr Yau met with representatives of the New Zealand China Council and the Auckland Business Chamber respectively to update them on Hong Kong's latest developments, such as the Northern Metropolis development, and initiatives to attract enterprises and investment around the globe. They also exchanged views on forging business co-operation between Hong Kong and New Zealand and using Hong Kong as a gateway to explore the vast market of the Guangdong-Hong Kong-Macao Greater Bay Area.

     In the evening, Mr Yau attended the Hong Kong Dinner cohosted by the Hong Kong Economic and Trade office, Sydney and the Hong Kong New Zealand Business Association. Speaking at the dinner, Mr Yau highlighted the close economic ties between Hong Kong and New Zealand since the signing of the free trade agreement between the two places in 2010. Today, Hong Kong stands as one of New Zealand's key trading partners in Asia. In 2024, New Zealand exported NZ$16 billion worth of goods and services to Hong Kong.

     Mr Yau said that the synergy between Hong Kong's service-oriented economy and New Zealand's world-renowned expertise in food and agriculture has created opportunities that go far beyond simple imports and exports, adding that the dynamic and resilient partnership will continue to evolve and thrive.

     Mr Yau will proceed to Sydney, Australia, tomorrow (August 13).

Ends/Tuesday, August 12, 2025
Issued at HKT 17:00

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