The Hong Kong government Monday signed a Memorandum of Understanding (MOU) on Co-operation in Wine-Related Businesses with Oregon and Washington of the United States, according to the local government website.
The signing of the MOU, which was taken place in Hong Kong, will help unlock new opportunities for the wine industry in the three places, the city's Permanent Secretary for Commerce and Economic Development Yvonne Choi said Monday.
Speaking at the signing ceremony, Choi said the wine agreement was Hong Kong's first trade agreement with Oregon and Washington states.
While opening up exciting avenues for the wine industry in the respective places, the MOU also signified a new chapter in bilateral relations between Hong Kong and Oregon and Washington, she said.
Under the MOU, the three places will strengthen co-operation in promoting wine-related trading, tourism, investment, education and the fight against counterfeits.
"We welcome wine companies from Oregon and Washington to take advantage of Hong Kong's prime location, business friendly environment and low tax regime to discover their niche in the booming wine market in Asia and particularly on the Mainland of China," Choi said.
With a knack for trade promotion, Hong Kong presented an ideal platform for companies from the two states to market their boutique wines to Asian clients, she added.
Choi noted that a number of trade promotion opportunities were available in Hong Kong in the coming months, including the Wine and Dine Festival in October and the Hong Kong International Wine and Spirits Fair in November.
