Australian wine and sugar to hit Peru thanks to new free trade agreement
A new free trade agreement between Peru and Australia is set to benefit Australia’s wine and sugar exporters.
Benefits to wine industry
The Winemakers Federation of Australia have welcomed the agreement that comes into effect within five years and eliminates the 9 per cent tariff on bottled win exports into Peru.
Winemakers Federation Australia (WFA) Chief Executive, Tony Battaglene, said multiple industries would benefit from the agreement.
“We have been at a competitive disadvantage in Peru because exports from the United States, Canada and European Union have been enjoying duty-free access under various trade deal,” Battaglene said.
Free trade agreements are seen as important in removing trade barriers and giving exporters a level playing field globally, according to Battaglene.
“All credit must go to the Australian Government in continuing its expansive Free Trade agenda,” Battaglene said.
Benefits to sugar industry
Chairman of Canegrowers Australia, Paul Schembri, said under the agreement Peru has agreed to market access for Australian sugar under terms it has never granted to any other country.
The new access to Peru is 30, 000 tones per year from the first year of the agreement increasing to 60, 000 tonnes in year six and 90, 000 tonnes in year 18.
“While the initial amounts of raw sugar Peru may purchase are small compared to our annual production of more than 4.5 million tonnes, the FTA will enable Australian exporters to establish and grow commercial relationships with refiners in Peru which has one of Latin America’s fastest growing economies,” Schembri said.
With a population of approximately 32.1 million, Peru’s largest current trade partners are China and the U.S.
- Australian winegrape prices increase, Wine Australia Vintage Report 2016
- Free trade agreement pays off for Australian wine exporters
McDonald’s Australia has confirmed that it has achieved its goal of using cage-free eggs by the end ...
Hilton Foods Australia has unveiled its $280m state of the art meat production facility in Heathwoo...
Hong Kong consumers will soon be tasting Western Australian grown Granny Smith apples thanks to a WA...
See what the experts say about pea milk trying to push into the growing plant-based milk range, join...
Sodexo, world leader in Quality of Life services, has announced the deployment of its data-driven f...
Fonterra has increased is 2016/17 forecasted farmgate milk price by 15 cents to $6.15 per kilogram o...
Australian restaurant chain Hog’s Breath has launched a new quick-service dining concept.
THE focus on getting rid of plastic shopping bags is shifting to government, with calls for laws to ...