Recentl figures show that the UK has overtaken France to become the leading supplier of wine to Hong Kong: the first seven months of 2009 the UK exported wine worth almost US$80 million to Hong Kong, an increase of 145 per cent over January to July 2008. France was the second largest supplier, with exports worth US$76 million, and Australia third with exports of US$21 million. Hong Kong’s total wine imports in the period January to July 2009 were up 42 per cent year-on-year, reaching US$241 million. The rapid growth in Hong Kong’s wine market follows the abolition of duty on wine last year.

The second edition of the HKTDC Hong Kong International Wine & Spirits Fair will take place 4-6 November 2009, helping to open up new markets in Asia and beyond for exhibitors. “For producers and distributors, this fair represents an enormous opportunity,” said Mr. Raymond Yip, Assistant Executive Director of Hong Kong Trade Development Council (HKTDC), which is organising the event.

“Appreciation of wine, both for consumption and as an investment, is really taking off in Asia and Hong Kong has emerged as the international wine trading hub for the region.” Mr. Yip pointed out that Hong Kong is the only major economy in the world to impose no duty, no VAT and no sales tax on wine. “The fair attracts premier wine producers and distributors from all over the world, giving them the chance to expand their portfolio of wines and to meet a multitude of potential new customers. This will boost sales in the region even higher.”

Mr. Yip cited growth projections which will see Asian wine imports, excluding Japan, rising to US$1.5 billion by 2017. Growth projections show Asian wine consumption, excluding Japan, will double by 2017, reaching US$27 billion. Most recent figures - January to April, 2009 - show Asian imports soaring by 57% over the same period in 2008.

The 2009 fair is expected to feature around 400 exhibitors from 30 countries & regions. The fair is open to trade buyers only on the first two days. Exhibitors have the opportunity to test products in the local market on the fair’s single ‘open day’ on 6 Nov. In 2008, over 10,000 members of the public flocked to the fair.

The 2009 Hong Kong International Wine & Spirits Fair builds on the success of the inaugural event. An exciting initiative is The Hong Kong International Wine & Spirit Competition (HKIWSC). It will be organised by the prestigious London-based International Wine & Spirit Competition, which has been an international standard-setter for 40 years. The judging panel is equally prestigious, being composed of the foremost Asian-based experts in the field. A unique feature of the competition, will be the pairing of wines with Chinese cuisine.

Fair website: http://hktdc.com/hkwinefair