NZ wine industry to see boon from UK FTA
The industry body representing New Zealand’s grape and wine industry, New Zealand Winegrowers, has reacted positively to the announcement that the United Kingdom and New Zealand have reached an agreement in principle to sign a free trade agreement.
The finalised free trade agreement will lead to a reduction of tariffs and duties on either country’s goods. A wine industry-specific section of the agreement will see mutual recognition of food standards and labelling practices, and tariffs on wine would be removed entirely.
“The agreement is very positive for the New Zealand wine industry. We understand the agreement will mean significant progress for wine, including a specific wine annex. This will help remove technical barriers to trade and minimise burdens from certification and labelling requirements,” said Philip Gregan, CEO of New Zealand Winegrowers.
“The UK is New Zealand’s second largest export market for wine, with exports valued at over $400 million over the past 12 months. The agreement will reduce trade barriers and remove tariffs on New Zealand wine exports to the UK, which will make a big difference for many within our industry.”
Several steps remain before the agreement is signed and ratified, including public consultation and the final honing of details.
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