New Australia-China Trade Accord Set To Boost Sales Of Australian Wine In ChinaNovember 18, 2014
Australia and China have inked a new free trade agreement that’s expected to boost Australian wines in the Chinese market. Currently, Australian wines face tariffs of 14%-30% in China. With the new free trade deal, those tariffs will be eliminated within four years. Meanwhile, Australia has pledged to ease restrictions on Chinese investment Down Under.
Last year, Australian wine exports to China declined 3.6% to 4.6 million cases, according to Impact Databank. By comparison, Chile, which already enjoys a free trade pact with China, saw its wine exports to the country jump 37% to 9.3 million cases in 2013.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.