Alcohol Beverages Australia welcomes the signing of the Free Trade Agreement between Australia and the United Kingdom.
Chief Executive Officer, Andrew Wilsmore said “the finalisation of the Australia-UK Free trade deal brings considerable benefits to drinks producers in both countries and to their consumers.
“The FTA is estimated to see $43 million in annual customs duties removed from Australian wine when the agreement enters into force, which will help strengthen Australia’s position in this key export market and go some way in making up for the challenges imposed by China’s recent tariff increases.
“Australia is the 8th biggest market for Scotch whisky exports, so Australian lovers of scotch whisky will also benefit from the five-year phase out of the 5% tariff Australia has on scotch whiskey.
“The 2030 Vision for the Alcohol Beverages Industry set an ambitious plan to double Australian exports. Reducing trade barriers enhances our ability to direct costly tariffs towards investment in capital and people to help grow the economy.”