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Hong Kong, Argentina sign MOU to promote wine trade

DBR Staff Writer Published 18 December 2017

Hong Kong and Argentina have signed a memorandum of understanding (MOU) to co-operate and promote wine trade between the two countries.

The MOU is not only related to wine related trade and investment promotion, but also focuses to the co-operation between the two countries in education, training and in the prevention of counterfeiting of wines.

It was signed by Hong Kong Commerce & Economic Development Secretary Edward Yau and Argentina Investment & Trade Promotion Agency CEO Juan Pablo Tripodi in Bueno Aires.

Yau said: “Hong Kong and Argentina are long time trading partners, particularly in wine trading. The signing of the MOU today will give impetus to that multifarious relationship.

"We are confident that Hong Kong is well-positioned to promote appreciation of Argentinean wines and related culinary arts in Asia."

Yau noted that Hong Kong is Asia's wine hub and a wine free-port and also offers a business and logistics infrastructure for the wine business to thrive.

The Drinks Business reported that presently Argentina’s wine imports constitute only a small amount in terms of volume and value. The country was also not mentioned in Hong Kong’s list of Top 10 Importers of 2016.

Since August 2008, Hong Kong has signed wine co-operation agreements with several countries including Chile, France, Australia, Hungary, Germany, Italy, New Zealand, Romania, Portugal, Spain, Slovenia and the US.

Image: Juan Pablo Tripodi and Edward Yau after signing the MOU. Photo: Courtesy of news.gov.hk.