With the ongoing review on trade tariffs set to conclude in March, Anthony Albanese has said he is anticipating positive news.
“I expect a resolution that will allow for wine to be back into China very soon.”
Renewing wine trade with Australia’s biggest trading partner would be mutually beneficial to both parties.
“It’s in Australia’s interest, but it’s also in China’s interests.
“You know why? Because it’s bloody good wine, it’s a good product, Australia produces good products at good prices, and it is into the world’s interests to receive them.”
Albanese hopes that the review, which began about a month prior to his historic China visit in November, will result in significant tariff reductions.
“We had discussions very directly with China about that. The review will conclude by the end of March and we’re very confident that that will see a benefit to Australia.”
The review comes at a pivotal moment for Australia’s wine industry, with production predicted to decrease significantly over the coming years.
“One of the things about McLaren and Barossa and Clare and the Adelaide Hills is it’s not just directly the jobs in the wine industry, they’re central to the South Australian tourism industry, they’re central in the multiplier factor that applies.
“We know that the South Australian wine industry had some bumper crops in recent years and that it is absolutely vital as an industry that employs tens of thousands of Australians directly, but indirectly as well.”
Chinese trade restrictions have remained in place on Australian wine, beef, and lobster despite Australia suspending its World Trade Organisation dispute with China in October. If the review results in the anticipated lower tariffs, it will mark a significant milestone for Australia’s wine industry.
