Australian Prosecco to be limited to domestic market as EU trade deal unleashes broader benefits for wine exporters

Australian Grape & Wine (AGW) said it has “welcomed key elements of the Australia–European Union Free Trade Agreement, including the removal of tariffs on Australian wine exports to EU member states” while simultaneously highlighting the “significant implications” the agreement will have for producers exporting Australian Prosecco. Australian wine exported to the European Union will not be subjected to tariffs upon entry into force, resulting in an expected saving of $14.5 million AUD per year. CEO of Australian Grape & Wine, Lee McLean, said that the tariff outcome was a “commercially meaningful result for the sector”.