TORONTO, March 11, 2014 /CNW/ - The Canadian Spirits Industry warmly
welcomes the announcement of a successful conclusion to negotiations
for a Canada - Korea Free Trade Agreement (CKFTA).
Korea represents a very significant 50 million plus strong consumer
market, a spirits-focused alcohol social culture and is amongst the top
10 largest global whisky markets.
"The elimination of the existing 20% import tariff and the formal
recognition of Canadian Whisky and Canadian Rye Whisky by Korea will
provide Canadian Spirits manufacturers with a real growth opportunity
moving forward", said Jan Westcott, President & CEO of Spirits Canada.
Existing free trade deals between Korea and the E.U. and the U.S. had
resulted in a significant reduction in Canadian exports in recent
"We understand that these were extremely challenging negotiations and we
wish to extend our deep appreciation to Prime Minister Harper and
Minister Fast, as well as to the department of foreign affairs, trade
and development officials for their perseverance at the table and
ensuring Canadian interests were protected", said Mr. Westcott.
Spirits annually represent nearly 70% of the total value of all Canadian
beverage alcohol international exports, far surpassing the combined
value beer, cider and wine shipments. International exports of Spirits
in 2013 were in excess of half a billion dollars and were 20% more than
the previous year.
Spirits Canada is the only national trade association representing
Canadian spirits manufacturers, marketers, exporters and consumers.
Member companies represent over 90% of annual spirits production in
SOURCE: Spirits Canada
For further information:
Mr. Jan Westcott
President & CEO
416 707 8851