Hong Kong Signs Trade Deal With France
Hong Kong has this week signed a Memorandum of Understanding (MoU) on cooperation
in Wine-Related Businesses with Bordeaux, making it the city's first official
pact with a wine-growing region. Permanent Secretary for Commerce & Economic Development (Commerce, Industry
& Tourism), Yvonne Choi and Laurent Courbu, president of the Bordeaux Chamber
of Commerce & Industry, signed the agreement on Wednesday morning. The MoU will cover cooperation in wine-related tourism, trade and investment
promotion, the transfer of technologies relating to wine storage and manpower
training, as well as some unique and specific deliverables particular to Bordeaux. Other collaboration will include a wine festival in Hong Kong next year, making
reference to the Wine Festival in Bordeaux. Hong Kong became the first free wine port among major economies with the abolition
of wine duty in February. In the first five months after the duty reduction
wine imports have grown 95% in value over the same period last year, with wine
imports from France up 116% in value. .
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