Australian gin and tonic fans are celebrating news that British G&Ts will be tariff-free in 2023. Producers such as Brighton Gin and Fever-Tree are thrilled with the news, and are looking forward to the increased exports to Australia. The UK-Australia trade deal has made this possible and Australians can look forward to enjoying quality G&Ts in the near future.
The announcement of the UK-Australia FTA is great news for Brighton Gin and Fever-Tree. Both companies will be able to benefit from the removal of tariffs and the increasing popularity of premium-and-above gins in Australia. This will enable them to provide a more competitive price, increase their market share, and increase their exports to Australia. It is likely that the UK gin and tonic producers will see a significant boost in sales in Australia in the coming years, as consumers continue to embrace the premium-and-above gin category. This could be a major opportunity for British exporters to take advantage of, and could result in a significant increase in exports of UK made gin and tonic products to Australia.
The UK-Australia deal is a landmark moment for trade between the two countries. It is the first new trade deal the UK has negotiated from scratch since leaving the European Union. This is a huge step forward for the UK economy, as it will increase trade with Australia by 53%, boost the UK economy by £2.3 billion and add £900 million to household wages in the long run.
The deal will reduce tariffs on 100% of UK goods exports to zero, which will be a great benefit to businesses. It will also ensure food and drink products exit customs quickly, so businesses can have certainty and ship with ease when exporting products to Australia. This could potentially lead to more jobs and opportunities for both countries, as well as increased investment and growth. Overall, the UK-Australia deal is a positive step forward for both countries and a great example of how the UK can succeed outside of the European Union.
Source : Aussies to toast tariff-free British G&Ts in 2023 under new trade deal.