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Philip Gregan.
New Zealand Winegrowers say a new Tariff Amendment Bill is a big step towards implementing the Free Trade Agreement with South Korea.
The bill, which was passed through Parliament last week, has been welcomed by the wine industry. “The negotiators have achieved a great outcome for the wine industry,” says NZ Wine chief executive, Philip Gregan.
“Tariff free access into South Korea at the time the agreement comes into force represents a significant boost to our export ambitions in one of the key Asian markets.”
The announcement is timely with the upcoming New Zealand Wine Fair being held in Seoul next month. The Wine Fair is part of the New Zealand Festival in Korea, a New Zealand Trade and Enterprise and the Ministry of Foreign Affairs and Trade initiative.
“We would like to congratulate the government and the negotiating team for achieving this very positive outcome for New Zealand wine. It will provide a very solid base for our future growth in South Korea,” says Gregan.
Wine exports to South Korea were valued at $1.8 million for the June year-end 2015, and have increased 46% in the last five years.
Did you know that nearly 90% of total New Zealand wine sales occur offshore? That simple number means our wine businesses are the most export oriented of all the global wine industries. It also makes our sector especially sensitive to any changes in the trade rules that govern the access of our wines into international markets.
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