Karen Betts, Chief Executive of the Scotch Whisky Association (SWA) states: “It’s very good to see the removal of the five percent tariff on Scotch Whisky in the Agreement in Principle between the UK and Australia,” she said.
“This will help Scotch Whisky distillers continue to expand exports to Australia, which have almost doubled over the last decade, making Australia our eight largest market by value. It’s also important to us that trade with Australia is now tariff-free for Scotch Whisky – our preference is always for tariff-free trade, which enables Scotch Whisky to compete on a level playing field and on the strength of our reputation for quality.”
“We await further details of the Agreement in Principle. A framework for addressing regulatory barriers to trade with Australia, to ensure greater legal protection and tax fairness for Scotch Whisky, is also important to us, and – if delivered in this agreement – will be a real boost for the industry.”
As whisky exports are still on a high despite the pandemic impact, there’s plenty of reasons to be optimistic for investors in the wake of this new trade deal.