Irish whiskey industry welcomes EU-Vietnam FTA
Free trade between EU countries and Vietnam has been opened up following the passing of a new agreement in the European Parliament; the good news for Ireland is the excessive 45% tariff will no longer apply to Irish whiskey imports.
18 February 2020 | 0
The Irish Whiskey arm of Drinks Ireland has welcomed the passing of the EU-Vietman Free Trade Agreement. As part of the agreement, the 45% tariff on Irish whiskey imports to Vietnam will be abolished, opening up a trade avenue between Irish whiskey distilleries and Vietnam.
The vote was passed by 416 votes to 187.
William Lavelle, head of Drinks Ireland|Irish Whiskey, said that the organisation welcomes the passing of the vote. “This is a significant development for the Irish whiskey industry,” Lavelle said. “In the past two years, sales of Irish whiskey in Vietnam have trebled, so there exists a major opportunity for further growth.
“The agreement will see a full phasing-out of excessive tariffs,” he added, “and legal recognition in Vietnam for the Irish whiskey geographic indication, which protects Irish whiskey from fake competitors.
“With so much global uncertainty threatening Ireland’s economy,” Lavelle added, “this is a welcome time for an agreement that offers future growth for the Irish, European and Vietnamese economies.”