Hong Kong to establish itself as wine center in Asia

HONG KONG. February 20. KAZINFORM Hong Kong was set to establish itself as a wine trading and distribution center in Asia, as part of an effort to build stronger international relations to lessen the impact of the global economic crisis, a government press release said Friday.

According to the press release from the Information Services Department of Hong Kong Special Administrative Region (HKSAR) government, HKSAR Chief Executive Donald Tsang made the remarks in South Korea Friday. Addressing local political and economic leaders on the last day of his visit in South Korea, Tsang said Hong Kong had immediately become the only free wine port among major economies after the elimination of wine duties in 2009; Kazinform cites Xinhua. "In 2007, we imported just a few dozen cases of South Korean wine valued at less than 1,500 U.S. dollars. Since eliminating wine duties in 2008, the value of wine imports from South Korea has increased seven-fold to 11,700 U.S. dollars. "In 2008, the total value of our wine imports from around the world reached 370 million U.S. dollars, representing a year-on- year increase of almost 80 percent. This is an example of how a little imagination and determination can go a long way during an economic downswing," Tsang said. Apart from the effort to forge stronger links with the international communities, Tsang told the South Korean audience that Hong Kong was to develop closer integration with the Chinese mainland, promote a green and clean living environment and expand the talent pool to achieve economic recovery as well as long-term sustainable development in the long run. Tsang visited the South Korean Film Council where he was briefed on the latest development of the Korean film industry. The council is a semi-government organization entrusted to promote South Korean film both in South Korea and abroad. Tsang will return to Hong Kong Friday after a five-day visit to Japan and South Korea.