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Vinitaly: gateway for European wines into China. Cooperation agreement signed with Hong Kong

Hong Kong is the most important hub for China and Asian countries. The agreement protocol between VeronaFiere and the Hong Kong Trade Development Council (HKTDC) envisages events and activities during Vinitaly and the Hong Kong International Wine & Spirits Fair, where Italy will be Partner Country in 2011.

Verona, 10 April 2010 - Vinitaly becomes the gateway for European wine in China and Asia thanks to an agreement protocol signed today between VeronaFiere and the Hong Kong Trade Development Council (HKTDC), organiser of the Hong Kong International Wine & Spirits Fair. The agreement was also made possible thanks to important collaboration with the Ministry for Agricultural Policies, ICE, Buonitalia, Federvini and Uiv.
Hong Kong is a particularly interesting commercial outlet for Italian wines, especially in the wake of the decision by local government to abolish tax on wine and beer in 2008, that helped turn the city into an important hub for wine in Asia.
In 2009, Italy exported wine to Hong Kong worth 9 million euro (12 million US dollars), with growth of almost 20% compared to the previous year.
As part of this strategic alliance, HKTDC has announced that Italy will be the Partner Country for the Hong Kong International Wine & Spirits Fair in 2011 and VeronaFiere will make available the know-how of Vinitaly. Other activities include the coordination and promotion of events and activities during the two shows, the exchange of market information and attendance by official HKDC delegations at Vinitaly.
"As Partner Country, our wine producers will enjoy enviable opportunities for access to the main Asian markets," said Giovanni Mantovani, Director General of VeronaFiere; "beforehand, only large producers and major groups have the chance of being present in Hong Kong and China."
Benjamin Chau, the Vice Executive Director of HKTDC who signed the protocol, said that "not only is appreciation of wine growing among the population of Hong Kong but the city is able to act as a key hub between producer countries such as Italy and continental China, which boasts a potentially enormous market".
Data indicate the wine imports into China are growing annually by 30% and it is envisaged that they will reach 58% of the entire market for wine imports in Asia (Japan excluded). Hong Kong at the end of 2009 - less than two years after the abolition of tax on wine - saw imports grow by 80% worth 412.5 million US dollars. Over the next two years, it is envisaged that sales of Italian red wine in Hong Kong will grow by 36% and by 38% white wine by the end of 2012; Rosé wine is expected to expand by 20% in the same period.
The signature of the protocol was attended by the diplomatic director of the Ministry for Agricultural Policy, Giorgio Starace, Roberto Lovato of ICE, Walter Brunello, President of Buonitalia, Lamberto Vallarino Gancia, President of Federvini, and Andrea Sartori, President of Uiv.

Verona, 12/4/2010

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