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HK Positioned to Build into Regional Wine Center: Report
Hong Kong is well-positioned to develop into a wine trading and distribution center of Asia, taking up 47 percent of the regional market in 2006.
This news came from a recent consultancy report jointly commissioned by the Trade and Industry Bureau and the Trade Development Council.
To explore the prospects and opportunities of Hong Kong's development as a regional center, the council will organize a seminar on June 30 at the Hong Kong Convention and Exhibition Center.
According to Johnny Wan, the council's deputy senior manager for product promotion, the Asian wine market is forecast to grow further, and with its strategically central location and sound infrastructure, Hong Kong has the potential to emerge as the regional wine center.
Asia is one of the few developing wine markets remaining in the world. With the region's economic recovery under way and opportunities arising from China's impending entry to the WTO, the market is expected to grow, Wan said.
"Capitalizing on Hong Kong's strengths and facilitation efforts of the government, Hong Kong's share of the wine market in Asia is forecast to grow from 27 percent in 1999 to 47 percent in 2006," Wan stressed.
The seminar on Hong Kong as a regional wine trading and distribution center will feature presentations on findings of the consultancy report, as well as sessions conducted by senior government officials and major industry players.
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