NZ Winegrowers welcomes free trade agreement
New Zealand Winegrowers, which represents the country’s winegrowers, has expressed appreciation of the newly signed free trade deal with the United Kingdom.
The free trade agreement will see all tariffs on NZ’s exports eliminated and duties removed from a majority of products.
The country’s largest export is wine and the free trade agreement will see $14 million in tariffs immediately removed.
“The agreement is very positive for the New Zealand wine industry. This will help remove technical barriers to trade and minimise burdens from certification and labelling requirements. It will also support future growth in the market and encourage exporters to focus on the UK,” 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 on New Zealand wine exports to the UK, which will make a big difference for many within our industry.”
The free trade agreement was signed in London by New Zealand Minister for Trade and Export Growth Damien O’Connor and UK Secretary of State for International Trade Anne-Marie Trevelyan and with its ratification will come into play by the end of the year. It had previously been announced last year but has moved towards certainty since that time.
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