Irish Whiskey companies showcase spirits at major Hong Kong trade fair
Irish distilleries aim to boost exports in Asia, as a reduction in Hong Kong’s import duty on high-end spirits opens doors for premium Irish whiskey brands
Print7 November 2024
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.
Changing markets
“Changes in the worldwide spirits markets have led many Irish companies to look beyond traditional markets for their products,” said Eoin Ó Catháin, director, Irish Whiskey Association.
Ó Catháin noted that 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.”
Ó Catháin continued: “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 kick start growth for Irish whiskey in the Hong Kong market and in other emerging markets, strengthening the position of Irish whiskey in Asia and worldwide.”
Irish whiskey tasting
The visit was marked 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.
“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,” said Ms Joey Ko, director of the UK, Nordics, and Ireland with the Hong Kong Trade Development Council.
“We’re confident that now is the right time to enter the Hong Kong and wider Asian market,” said Michael Scully, managing director, Clonakilty Distillery.
Clonakilty Distillery is an ambitious company, now open to discussion with new importers and distributors globally.
“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.”
Read more: Irish Whiskey Association reports significant global achievements in 2021
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