45% Tariff On Irish Whiskey In Vietnam Abolished, Says Drinks Ireland
The European Parliament has voted to approve EU Vietnam Free Trade Agreement, which will see the 45% tariff on Irish whiskey in Vietnam abolished, said Drinks Ireland.
The group that represents the drinks industry in Ireland said that the vote was passed by 416 votes to 187 in Strasbourg today Wednesday, 12 February.
The agreement will also open up trade between Irish whiskey distilleries and Vietnam.
"In the past two years sales of Irish whiskey in Vietnam has trebled, so this presents a major opportunity for further growth," said William Lavelle, head of Drinks Ireland/Irish Whiskey.
Lavelle highlighted that the move will also secure legal recognition in Vietnam for the Irish whiskey Geographic Indication (GI), which protects Irish whiskey from fake competitors.
“With so much global uncertainty threatening Ireland’s economy, this is a welcome time for an agreement that offers future growth for the Irish, European and Vietnamese economies,” he added.
Irish Whiskey’s status as a GI was officially approved by the European Commission on the 4 April last year.
Essentially, Irish Whiskey's GI is protected in a similar vein to Champagne, whereby the provenance of the spirit will have to be proven to ensure it authenticity.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.