China’s government has officially abolished heavy tariffs on Australian wine after put place from late 2020.
This follows an interim proposal by China’s Ministry of Commerce to remove tarrifs on Australian wine this month.
The tariffs to Australian wine by China were of up to 220%.
Now, the Commerce Ministry in Beijing has announced it is “no longer necessary to impose anti-dumping duties and countervailing duties on the imports of the relevant wines originating in Australia.”
The tarrifs shocked amount of $1.1 billion of Australian wine which was being exported to China in 2019-2020.
China agreed to review the tariffs in return for Australia suspending an appeal to the World Trade Organisation (WTO).
In statement, Mr Farell and Prime Minister Anthony Albanese welcomed the decision and said it came at a critical time for the industry.
“The re-entry of Australian bottled wine into the Chinese market will benefit both Australian producers and Chinese consumers,” they said.
Previously, Beijing removed heavy tariffs on a range of commodities including barley, wine, coal and lobsters.