HONG KONG: Hong Kong, Bordeaux sign new wine deal
Authorities in Hong Kong and Bordeaux have signed a new wine trade deal on the back of strong growth in French wine exports to Asia.
Representatives of the Hong Kong Government and Bordeaux's Chamber of Commerce have agreed to cooperate more closely to improve the presence of Bordeaux wine in the principality.
French wine exports to China-controlled Hong Kong have risen by 160% since Hong Kong scrapped excise duty on wine in February 2008, according to the Hong Kong ministry for Commerce, Industry and Tourism.
Exports of wine from France account for more than half of all wine exports to Hong Kong by value.
The new trade deal between Bordeaux and Hong Kong, signed at the Vinexpo Asia-Pacific exhibition, follows an original trade agreement between the two parties signed in Bordeaux in 2008.
"The supplemental agreement will further deepen our partnership in wine promotion," said Yvonne Choi, Hong Kong's permanent secretary for commerce and economic development.
"A new joint promotion initiative is the pairing of wine with Asian food," said Choi. "This enriches our wine culture and capitalises on Hong Kong¦s strength as a gourmet centre for the region. We will collaborate with Bordeaux through, for example, chef exchange programmes between our training institutions."
A Wine and Dine festival, which was developed jointly by Bordeaux and Hong Kong authorities, will be held from 28 to 31 October.
Bordeaux's Chamber of Commerce has also been developing measures to help enhance traceability of wines from Bordeaux to distribution points including Hong Kong, as part of the trade agreement.
- Job cuts not the whole story at AB InBev - Comment
- Diageo's smart Seedlip sustainability move
- The decline of the flagship beer brand - Comment
- Pernod Ricard Q4/FY 2016 results - Preview
- Craft spirits shake-out will be just the beginning
- AB InBev to cull 5,500 jobs after SABMiller buy
- Diageo revamps Gordon's gin bottle in UK
- CEO Paul Schaafsma set to leave Accolade Wines
- Heineken unveils new mid-strength lager Heineken 3
- Concha y Toro sees H1 profits, sales jump - result
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review