On February 10th, the Washington Wine Commission hosted a reception regarding wine trading and business development between Hong Kong and US. Many guests from different establishments such as the Washington State Department of Agriculture, local vineyard owners, and wine trader attended this event at the Waterfront Grill in downtown Seattle.  Amongst wine business crowd, Mr. Donald Tong, Hong Kong Commissioner for Economic and Trade Affairs, Washington D.C. was the honored guest and speaker for the evening.  Tong states in his opening remarks that Hong Kong is quickly becoming a regional wine trading and distribution hub in Asia. Since the elimination of wine duties in February 2008, wine merchants have seized the opportunity to increase shipments and establish a greater presence in Hong Kong.

On February 10th, the Washington Wine Commission hosted a reception regarding wine trading and business development between Hong Kong and US. Many guests from different establishments such as the Washington State Department of Agriculture, local vineyard owners, and wine trader attended this event at the Waterfront Grill in downtown Seattle.  Amongst wine business crowd, Mr. Donald Tong, Hong Kong Commissioner for Economic and Trade Affairs, Washington D.C. was the honored guest and speaker for the evening.  Tong states in his opening remarks that Hong Kong is quickly becoming a regional wine trading and distribution hub in Asia. Since the elimination of wine duties in February 2008, wine merchants have seized the opportunity to increase shipments and establish a greater presence in Hong Kong. Moreover, Hong Kong and China has recently signed a cooperation agreement on customs facilitation measures for wine to expedite the import of wine from the Hong Kong.  This agreement will drastically reduce the customs time to 1 day at the point of Mainland China border.  During the depression period of economic downturn, Hong Kong Commission for Economic and Trade Affairs hopes to grasp the advantage of wine trading in Hong Kong and develop further relationship with the wine business in U.S.A.

 

Mr. Tong explains that the close relationship between Washington and Hong Kong on international trade is the perfect platform to establish continuous growth of wine businesses and trading.  “In 2008, the State of Washington exported over US$981.7 million worth of good to Hong Kong – ranking 4th amongst all U.S. states.” He mentioned that over the past two years, “the value of wine imports jumped 80 percent year-on-year to around US$370million after the elimination of wine duty”. With Hong Kong’s geographic advantages to Mainland China, experiences in wine trading, bilingual environment, and the new cooperation agreement with China, this will surely bring extra points to attract more wine trading business from Washington to Hong Kong.  Through his informative address, Tong truly believes that there is a promising future in wine trade and business between Washington and Hong Kong. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here