Canada-Korea Free Trade Agreement to Benefit British Columbia’s Wine Producers
Caption: (from left to right): Minister Fast, David Geen, Vice President of the BC Cherry Association; Ezra Cipes, CEO of Summerhill Pyramid Winery; and Ron Cannan, Member of Parliament for Kelowna-Lake Country
March 14, 2014 - Kelowna, British Columbia - The Honourable Ed Fast, Minister of International Trade, tours Summerhill Pyramid Winery to see, first-hand, how the company will benefit from the Canada-Korea Free Trade Agreement.
Summerhill Pyramid Winery, Canada’s largest certified organic winery, is well known in the Okanagan Valley for its icewine, among other products. Canada is recognized as a world leader in the production of icewine, which accounts for 45 percent of the country’s wine export revenue.
The Canada-Korea Free Trade Agreement is of great interest to Summerhill Pyramid Winery and other Canadian wineries, as there are significant tariff reductions for wines and spirits in the Agreement.
The Agreement will significantly improve market access opportunities for Canada’s wines and spirits sector by eliminating tariffs of up to 30 percent. In 2012, Canadian exports of wines and spirits to South Korea were worth $2 million and consisted mostly of icewine.
For more details on the benefits of this agreement, visit Canada-Korea Free Trade Agreement.
Office of the Honourable Ed Fast
Minister of International Trade
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