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"Landmark" UK/Australia trade deal finalised

Published:  17 December, 2021

The UK and Australia have reached an historic agreement on trade, in a move that has been welcomed by the WSTA.

Concluded yesterday (16 December), the UK and Australia are now committed to removing all barriers to trade between the two nations, in a “from scratch” post-Brexit trade agreement.

International Trade Secretary Anne-Marie Trevelyan described it as a “landmark moment in the historic and vital relationship” between the UK and Australia. The government has claimed that it will unlock an additional £10.4bn of lucrative trade, lowering the price of imported goods such as Australian wine.

Miles Beale, chief executive of the Wine and Spirit Trade Association, commented: “The WSTA welcomes the announcement of a finalised FTA between the UK and Australia. The trade agreement is set to remove tariffs on products in both directions of trade, and ease the regulatory burdens that businesses face in entering the respective markets.

“The deal is a boon for the UK wine industry, with Australian wine the leading country of origin for British wine consumers, worth more than £1.5bn in UK sales and supporting thousands of jobs throughout the UK economy, from bottling and logistics to retail and hospitality.”

He added: “The agreement is also set to provide a boost to British gin exporters, as Australia has been one of the fastest growing markets of the gin export renaissance. Exports to Australia have more than doubled since 2016, to £27.5m in customs value. British gin exporters will be keen to continue to build momentum in the market on the back of this announcement.”