Irish whiskey distilleries in Hong Kong this week for trade event and export opportunities
The Irish whiskey delegation’s visit to the Hong Kong Trade Development Council Wine and Spirits Fair 2024 coincides with a slash by Hong Kong on import duty on premium spirits
A number of Irish whiskey companies are in Hong Kong this week to showcase their world-class products at a major international trade fair, with the aim of increasing exports.
According to the visit organiser, the Irish Whiskey Association ─ the representative body for the all-island Irish whiskey industry ─ the event is an opportune moment, as it coincides with the announcement last month (October 2024) that Hong Kong has reduced import duty from 100 per cent to 10 per cent on spirits that are above 30 per cent ABV (alcohol by volume), such as whiskey, and that have a minimum import price of HK$200 (approximately €24), for products up to one litre in size. The 100 per cent import duty remains on spirits up to HK$200 and drops to 10 per cent for the portion of the price that exceeds HK$200, benefiting premium spirits.
According to Bord Bia figures*, Irish drinks exports to Hong Kong saw a significant increase of 10 per cent in 2023, and the Irish Whiskey Association is looking towards continued growth in the coming years.
Commenting on the participation by Irish distilleries at this week’s Hong Kong Trade Development Council Wine and Spirits Fair 2024, director of the Irish Whiskey Association, Eoin Ó Catháin, said: “Changes in the worldwide spirits markets have led many Irish companies to look beyond traditional markets for their products. Many of the more promising markets are in Asia, where an emerging middle class and a strong whiskey tradition is paving the way forward for Irish whiskey growth. India featured in the top 10 whiskey markets last year, and the Irish Whiskey Association participated in an EU trade mission to mainland China earlier this year, promoting EU geographical indications, of which Irish whiskey was the sole Irish product highlighted.”
Noting an enthusiasm for Irish whiskey in more exotic and emerging markets, Mr Ó Catháin said: “Irish whiskey companies are enjoying renewed interest in their premium product in many Asian markets, including Hong Kong, Taiwan and the Chinese mainland. The potential of these markets is great – they have a growing middle-class with an appreciation for premium spirits drinks and for the smooth taste of Irish whiskey. I’m confident that our participation at this expo will kickstart growth for Irish whiskey in the Hong Kong market and in other emerging markets, strengthening the position of Irish whiskey in Asia and worldwide.”
The visit was marked today (06.11.24) by an Irish whiskey tasting networking event hosted by the Consulate General of Ireland to Hong Kong. Drinks importers and distributors, senior personnel from luxury hotels and representatives of the Irish business community in Hong Kong were among the attendees at the event.
Consul general of Ireland to Hong Kong and Macao, Jennifer Bourke, welcomed the visit saying: “Irish whiskey is a key Irish export, and I’m delighted to support this Irish Whiskey Association delegation of Irish distilleries to Hong Kong. There are significant opportunities for Irish whiskey in the market here and the Consulate is always ready to assist and promote Irish trade and business on the ground.”
Also welcoming the Irish whiskey delegation visit, director of the UK, Nordics, and Ireland with the Hong Kong Trade Development Council, Ms Joey Ko, said: “I couldn’t be more delighted to welcome the Irish distilleries under the Irish Whiskey Association banner to Hong Kong. It’s truly a privilege to introduce these brilliant brands to such a receptive market, especially at this pivotal moment when the duty on spirits over 30 per cent alcohol and an import price above HK$200 has just been reduced from 100 per cent to 10 per cent. This significant tax cut is an open door for premium spirits to thrive in our city, reinforcing Hong Kong’s role as a top hub for international trade in fine liquors.”
Commenting on his distillery’s participation this week at the Hong Kong Trade Development Council Wine and Spirits Fair 2024, managing director of Clonakilty Distillery, Michael Scully, said: “Our distillery recently had the honour to launch our Single Pot Still Whiskey, and we’re delighted to see it already winning international awards. We’re confident that now is the right time to enter the Hong Kong and wider Asian market. Clonakilty Distillery is an ambitious company, now open to discussion with new importers and distributors as we grow our global footprint. We’re confident that this is the right platform to achieve this growth and wish to thank the Hong Kong Trade Development Council and the Irish Whiskey Association for their assistance in making this happen.”
