Hong Kong and Argentina sign MOU to promote wine trade

Hong Kong and Argentina have signed a ‘memorandum of understanding’ to promote bilateral wine trade from education to fighting counterfeiting wines.

Argentina Investment & Trade Promotion Agency Chief Executive Officer, Juan Pablo Tripodi, and Hong Kong’s Secretary for Commerce & Economic Development Edward Yau

The city’s Secretary for Commerce & Economic Development, Edward Yau, signed the pact on Thursday this week with Argentina’s Investment & Trade Promotion Agency Chief Executive Officer, Juan Pablo Tripodi, in Bueno Aires, the Hong Kong government has announced on its website.

The agreement is expected to facilitate co-operation between Hong Kong and Argentina in wine-related trading and investment promotion, education and training, tourism, and prevention of counterfeiting, according to the statement.

Argentina’s wine exports to Hong Kong only constitute a small amount in terms of volume and value, and was not ranked among the city’s top 10 wine importers in 2016. Its neighbour Chile, however, is ranked as number six by value and number 4 by volume, according to figures released by Hong Kong Commerce and Economic Development Bureau.

“We are confident that Hong Kong is well-positioned to promote appreciation of Argentinean wines and related culinary arts in Asia,” said Yau.

“Hong Kong is Asia’s wine hub and a wine free-port. Hong Kong also offers a world-class business and logistics infrastructure for the wine business to thrive,” he added.

Hong Kong has entered into wine co-operation agreements with Australia, Chile, France, Germany, Hungary, Italy, New Zealand, Portugal, Romania, Slovenia, Spain and the US.