The UK/NZ FTA will support the continued growth of the New Zealand spirits industry while offering important opportunities for imported product, according to Spirits NZ.
From 31 May, tariffs on more than 97% of exports from both countries will be removed.
“The New Zealand spirits industry, while still small, has grown almost exponentially in the last 10 to 15 years,” says Spirits NZ Chief Executive, Robert Brewer.
Fifteen years ago there were only a handful of truly commercial distilleries in New Zealand. Today there are almost 130.
“The impact of this growth is typified by the growth in the NZ gin market – up almost 460% since 2013,” says Brewer.
“Almost all producers are looking offshore and the UK FTA will only make it easier to gain access to a large and consumer-savvy market.”
NZ Spirits says the agreement also provides more opportunities for imported product with import duties on gin and other products from the UK disappearing.
“But of particular importance is a clause contained in the Spirits and Wine Annex attached to the agreement which allows for the development of a specific food standard for whisky,” says Brewer.
“A properly designed standard will not only protect imported product from the UK but also standardise the production specifications for New Zealand whisky which will only help with its marketing offshore.”
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