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Treasury Wine Estates, Pernod Ricard hail China-Aus FTA

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Treasury Wine Estates (TWE) and Pernod Ricard have welcomed the signing of a new China-Australia free trade agreement, which will end excise duty on Australian wine imports to the Asian country.

Wine companies have applauded a China-Australia free trade agreement

Wine companies have applauded a China-Australia free trade agreement

The agreement, signed last week, will phase out tariffs of 14-20% over the next four years as the countries look to bolster trade ties. China is Australia’s third-largest export market by value behind the US and the UK and accounts for 5.4% of Australian wine exports, or 11.8% in sales terms.

just the facts - Australian wine in China

A spokesperson for TWE told just-drinks that the agreement will make it easier to sell the company's wine brands in the Chinese market and reduces some costs of business.

The spokesperson added: "In particular, the FTA with China benefits TWE by levelling the playing field with New Zealand and Chilean wine producers who already enjoy tariff-free entry into the Chinese market as a result of their own countries' FTAs."

A spokesperson for Pernod, which operates the Australia-based wine unit Pernod Ricard Winemakers, told just-drinks: "Each and every initiative that contributes to facilitating international trade is positive by nature. And especially so when it comes to renowned international wine brands targeting the world's largest wine market."


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