15 Jan Cautious Optimism for Australia-China Wine Exports
China has agreed to a meeting with Australia’s Trade Minister Don Farrell, raising wine exporters’ hopes that current trade restrictions may be lifted, allowing for the free flow of Australian wine into the Chinese market.
These trade restrictions, put into place in March 2021 amid rising tensions between the nations, saw China apply duties of 116% to 218% on Australian wines in containers up to two litres, causing exports to China to plummet, a move that ultimately had a devastating impact on Australian wine makers as China had accounted for almost 40 per cent of Australian wine exports.
Chief Executive Officer (CEO) of Australian Grape and Wine, Lee McLean, has expressed cautious optimism that China may soon begin removing import duties on Australian wine so both nations can work towards a normalisation and stabilisation of the trade relationship moving forward.
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Rachael Budd & The Transolve Global Team