NEW trade opportunities are set to open up between for Irish whiskey producers in India after the EU secured an agreement which drastically reduces existing tariffs.
Negotiations between the EU and India concluded this week, with the establishment of a new free trade agreement (FTA) between them.
Under the agreement existing tariffs on Irish whiskey being imported into India will reduce from 150 per cent to just 40 per cent over a phased period.
“The agreement reached between the EU and India is a positive one for the Irish agri-food sector,” Ireland’s Minister for Agriculture, Food and the Marine, Martin Heydon said.
“It provides significant opportunities for our spirit drinks exports – particularly for Irish whiskey in what is both the world’s largest whiskey market and the fastest growing market for our whiskey exports.”
The FTA also sees tariff reductions for other agri-food exports from EU nations into India, including processed foods, such as chocolate, sheepmeat and beer.
“I have always been clear that EU trade agreements must defend our most vulnerable sectors,” Minister Heydon said.
“In that context, I note from this announcement that the EU’s most sensitive sectors, including our beef and poultry sectors, have been protected from tariff liberalisation in the agreement.”
The EU Commission is expected to publish the draft texts of the FTA shortly, after which they will undergo legal scrutiny and translation into all official EU languages.
See More: EU, India, Ireland, Irish Whiskey
