11 December 2020
SWA welcomes UK-Vietnam trade agreement
The SWA has welcomed the announcement from the Department for International Trade that the UK and Vietnam have agreed a trade deal this week.
Ian McKendrick, International Director at the Scotch Whisky Association said: “The conclusion of the UK-Vietnam free trade agreement is positive news for Scotch Whisky producers, for whom Vietnam is an important emerging market. The gradual elimination of the 45% import tariff in Vietnam is particularly welcome to distillers wishing to export to the country, which has seen Scotch Whisky sales grow significantly in the last decade.
“The FTA commits to further protection of Scotch Whisky alongside its GI registration in Vietnam, which will help boost consumer confidence in premium products like Scotch Whisky by making them more widely available and lessening the risk of smuggling and counterfeits. The FTA with Vietnam is also an important stepping stone to the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), opening up new opportunities for Scotch Whisky and other UK products in key markets in the region.
“We look forward to working with the UK and Vietnamese governments in the implementation of the FTA, helping to address the trade barriers for Scotch Whisky producers in the market, and ensuring that Scotch Whisky can continue to grow in Vietnam and Southeast Asia.”