A memorandum to expand cooperation in wine related business between Hong Kong and the United Stated was signed on Monday.

The Secretary for Commerce and Economic Development Rita Lau signed the Memorandum of Understanding on Co-operation in Wine-related Businesses (MOU) with the visiting Secretary of Commerce of the United States Gary Locke.

As one of the world's leading wine producers and exporters, the United States is Hong Kong's fourth largest wine provider. Wine imports from the United States amounted to 49 million U.S. dollars in 2009-2010, representing a five-fold increase since Hong Kong's duty exemption.

The U.S. auction houses have also held regular wine auctions in Hong Kong with record-breaking sales on several occasions.

The MOU is the eighth co-operative agreement concluded by Hong Kong with wine producing countries/regions, coming after those with France, Bordeaux, Spain, Australia, Italy, Hungary and New Zealand.

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