Treasury Wine Estates, Pernod Ricard hail China-Aus FTA

Treasury Wine Estates (TWE) and Pernod Ricard have welcomed the signing of a new China-Australia free trade agreement, which will end excise duty on Australian wine imports to the Asian country.
The agreement, signed last week, will phase out tariffs of 14-20% over the next four years as the countries look to bolster trade ties. China is Australia’s third-largest export market by value behind the US and the UK and accounts for 5.4% of Australian wine exports, or 11.8% in sales terms.