Hong Kong and Spain have signed a memorandum of understanding to boost wine-related businesses co-operation between the two jurisdictions.

Secretary for Commerce & Economic Development Rita Lau and Spanish Minister for Industry, Tourism & Trade Miguel Sebastian today signed the document in Madrid.

The document covers six areas - promotion of trading in wine and related food items, holding international wine-related meetings or events in Hong Kong, investment promotion, education and manpower training, promotion of wine-related tourism and wine culture, as well as customs co-operation against counterfeit wine.

"This will help enhance Hong Kong's position as a wine trading and distribution hub in Asia," Mrs Lau said.

"The two sides will also encourage the Great Wine Capitals Global Network, a network of eight internationally-renowned wine-producing regions including Bilbao-Rioja of Spain, to hold their annual meetings or wine-related events in Hong Kong. This forms part of our efforts to attract large-scale meetings and exhibition events to Hong Kong."

Spain is the third-largest wine-producing country in the world and one of the main exporters of wine to Hong Kong. Wine imports from Spain have increased 49% in value since the February duty reduction compared to the same period last year.