Achi news desk-
The removal of China’s punitive tariffs on Australian wine imports will be celebrated with cork popping over the Easter weekend but it will take time to rebuild the $1.1 billion trade, an assistant minister has said.
The Chinese Ministry of Commerce announced late on Thursday that there was “no longer a need” to impose sanctions on Australian wine imports.
They were imposed by Beijing at the height of diplomatic tensions in 2020.
The decision removes one of the last major sanctions on $20 billion worth of Australian exports, with restrictions remaining on lobster and beef.
Assistant Trade Minister Tim Ayres said China’s decision was the result of “very hard and determined work” by his government.
“It’s a very welcome development that comes in the wake of the $20 billion worth of barriers for Australian exporters… wine was the last big part of that piece,” he told Sky News.
Asked when the Chinese market would recover to its peak of $1.1 billion, Senator Ayres said it would take time.
“There is a huge appetite for high quality Australian wine in the Chinese market,” he said.
“I expect to see rapid uptake where there are existing markets.
“I’m optimistic about how that’s going to go, but it’s going to depend on all these commercial realities.”
Jumping on the heels of the removal of tariffs, which came into effect from Friday, the NSW government will deliver events in partnership with the industry to help Australian companies re-enter the market.
NSW Trade Minister Anoulack Chanthivong said China was her state’s largest two-way trading partner.
“We understand that the market has changed, and conditions will be different this time,” he said.
“Our focus will be to support NSW wineries to understand the new environment, re-enter the market and re-establish export pipelines.”
