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Proposed reduction in Hong Kong wine duty good for Australian export.



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DAFF07/030PMJ - 7 March 2007

Australian Minister for Agriculture, Fisheries and Forestry - Peter McGauran Australian Government Minister for Trade - Warren Truss

Proposed reduction in Hong Kong wine duty good for Australian exports

The Hong Kong Government’s proposal to reduce the rate of duty on wine opens the way for increased Australian wine exports.

The Australian Government Minister for Trade, Warren Truss, welcomed Hong Kong’s 2007-08 Budget proposal to reduce the duty on wine from 80 to 40 per cent. The proposed reduction follows high-level representations over a number of years by

Australia and other wine-exporting countries, and has the support of the Hong Kong hospitality and tourism industries.

“The cut in duty will be a win/win result, both for Hong Kong and for wine exporting countries like Australia,” Mr Truss said.

Australia is Hong Kong’s second largest supplier of wine, while Hong Kong is Australia's 13th largest wine export market in value terms and 16th in volume.

In the year to 31 January 2007, Australia exported 3.8 million litres of wine to Hong Kong, valued at $24 million.

The Australian Government Minister for Agriculture, Fisheries and Forestry, Peter McGauran, said Australia’s wine industry would welcome any proposal to increase the size of Hong Kong’s wine market.

“A cut in the duty would make our wine exports to Hong Kong more affordable, helping to boost sales, particularly of our premium wine,” Mr McGauran said.

Hong Kong’s Legislative Council is expected to approve the Budget, including the proposed wine duty reduction, by mid-April.

Further media inquiries:

Minister McGauran's office:

Ben Houston 0423 191 945 Mr Truss’ Office:

Paul Chamberlin 02 6277 7420

http://www.maff.gov.au/s/releases/07/030pmj.htm © Commonwealth of Australia 2002-2006 | Department of Agriculture, Fisheries and Forestry | Other DAFF Ministers | Prime Minister's website