All Wined up in Hong Kong for Asia Vinexpo 2010

The largest wine expo in Asia was unveiled on Tuesday May 25 in Hong Kong, attracting high profile members of the wine industry.

Vinexpo has this year attracted more than 9500 wine and spirits importers, wholesalers, retailers, duty free buyers and food and beverage professionals from 18 countries, organisers claim, according to The Independent.

More than 40 events have been arranged for the event』s three days, including tastings, seminars and presentations by well-known wine and spirits experts and industry specialists.

The US delegation traveled to Hong Kong in an effort to open the market to US wines. Headed by the Commerce Secretary Gary Locke, the US wants to expand its trade mission to Asia.

Hong Kong has revolutionalised its wine industry by de-regulating the 40 per cent import tax in 2008. The elimination of wine duty in Hong Kong has changed the landscape for fine and vintage wine market around the world.

According to Serena Sutcliffe, who heads Sotheby』s International Wine department: 「Sotheby』s first year of selling wine in Asia, Hong Kong has become Sotheby』s most important wine centre, ahead of very successful auctions in New York and London.」

By the end of 2008, the value of imported wines had jettisoned 82 per cent over the year of 2007. The competition may be aggressive, whereby seven other international wine-producing regions have signed agreements with Hong Kong. Hence the promotion of quality wines with local and regional cuisine is endorsed as a pivotal part of growing business in Asia.

Hong Kong has embraced wine appreciation in the main stream, which has offered an injection into the Special Administrative Region』s tourism and the expansion of wine auctions and improved preservation services.