Professor KC Chan opened the country’s fourth international wine and spirits fair this morning and added that the market had seen rapid growth since wine duty was abolished in 2008.
In 2007, wine imports were only worth a quarter of what they are now, at US$204m.
He went on to discuss Hong Kong’s role in re-export of wines to mainland China.
“China is the fastest growing wine importer in the world… given our strong connections with the mainland and our experience in doing business there over the past few decades, Hong Kong is well placed to take advantage of this growth,” Chan said.
Hosted by the Hong Kong Trade Development Council, its 2011 fair has attracted 934 exhibitors from 37 countries and is almost four times the size of the first in 2008.