Scotch Whisky Association calls for Brexit clarity
LONDON–The Scotch Whisky Association, a trade organization that represents the Scotch whisky industry. Wednesday called on the U.K. government to bring “clarity” to the process of Brexit, as one the U.K.’s largest export industries outlined its terms for the most sector’s most favorable trading conditions following the U.K.’s vote to leave the European Union.
“Scotch Whisky is one of the U.K.’s most successful exports. We are calling on the U.K. government to bring clarity to the transition to Brexit as soon as possible, and to negotiate to ensure that the current open trading environment is not affected,” said Chief Executive David Frost.
“Finding practical ways forward on export practicalities and on free trade agreements should be high on the agenda as negotiations begin in the coming months,” he added.
In a statement, it called for a U.K. trade policy that is an “open and free trading as possible.” It also asked for “broad clarity on the nature of the future arrangement that is sought with the EU.”
The association said GBP3.8 billion ($5.08 billion) worth of Scotch whisky was exported last year, with GBP1.2 billion shipped to the EU. More than 90% of Scotch whisky produced is sold outside the U.K., added the body.
At 1158 GMT, shares in liquor giant, and U.K.-based whisky producer, Diageo PLC DGE fell 0.5% to 2,135 pence.
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