HK opens inaugural int'l wine fair, aims to be regional wine hub

HONG KONG : Wine connoisseurs flocked to Hong Kong's first International Wine Fair, with more than 250 exhibitors from  25 countries and regions showing off their finest liquor.

The three-day fair is part of the city's ambitious plan to establish itself as a regional wine hub, following the government's decision in February to scrap Hong Kong's 40 per cent wine duty.

The government believes Hong Kong will one day rival international wine giants such as New York and London.

The Trade Development Council said it expects wine consumption in Asia to double to US$17 billion in four years.

Although wine is the main focus, other types of liquor are also on display at the fair. And for visitors who are more interested in sampling the products rather than buying them, exhibitors are more than willing to offer a glass of cocktail.

There has been concern that Hong Kong will lose out on wine importers flocking to storage facilities in mainland China because of cheaper land and labour costs, despite a 50 percent wine tax.

However, specialists from one of Asia's leading wine cellar facilities dismissed those fears.

Gregory De'eb, co-founder of Crown Wine Cellars, said: "It's this four decades of unbelievably brilliant compounded wine knowledge that's been rammed into this little community that we've got over here in Hong Kong.

"It's like walking into a candy store and everything is five-star quality chocolate, as opposed to going into a Walmart and having to look for the chocolate stand."

More than US$30 million worth of fine wines, including selections from local collectors, are estimated to be up for sale in the city in the fourth quarter of this year.