Recent trade deals offer £100 million of export markets to UK alcohol companies

Recent trade agreements have eased trade barriers on UK alcohol exports in markets worldwide worth £100 million, Trade Secretary Kemi Badenoch has announced.

Trade negotiations have seen tariffs and other obstacles reduced in countries including Argentina, Angola, Morocco and Tunisia, opening up these markets to more British products and helping boost alcohol exports, which reached £6.5 billion last year.

Trade Secretary, Kemi Badenoch, announced the news during a visit to the Glenkinchie Distillery; she said:

“Every week we remove a trade barrier somewhere around the world. From whisky in Argentina to gin in Angola, we’re slashing red tape and opening access to new markets and new customers.

“With these trade obstacles gone and more to follow, my message to UK businesses is clear – make the most of the huge global appetite for your fantastic products and sell to the world.

“As we line up deals with huge markets around the globe, including India and CPTPP, I can’t wait to celebrate the even greater wins which lie ahead.”

Negotiators are also currently working on a free trade agreement that could lower tariffs and simplify other issues like customs to help further open up access to larger economies, including India. With India forecast to become the world’s third-largest economy with a middle class of a quarter of a billion by 2050, any greater access to the market could be hugely significant for UK businesses.

Ewan Andrew, President of Global Supply Chain and Procurement at Diageo, said:

“It was a pleasure to welcome the Secretary of State to Glenkinchie to see how we are investing in the future growth of Scotch whisky, with all the powerful economic benefits that brings to Scotland and the United Kingdom.

“The UK-India Free Trade Agreement is a truly once in a generation, transformational opportunity for Scotch Whisky and we hope today’s visit will have given the Secretary of State a real understanding of our industry and the positive impact the India FTA could have on the sector.”