With the UK due to leave the EU Single Market and Customs Union at the end of the year, Liv-ex has been campaigning hard with members of the UK trade to ensure that we do so on the best possible terms.
In July, the Wine and Spirit All-Party Parliamentary Group led an enquiry into the effects of rolling over current EU legislation. As part of our campaigning efforts, Liv-ex’s Managing Director and Chairman, James Miles provided evidence for this enquiry on the potential impact of the VI-1s to the UKs fine wine market. You can read Miles’s evidence here.
Today, the results of this enquiry were published by the Wine and Spirit All-Party Parliamentary Group in their September 2020 report: The impact of wine import documentation (VI-1s) from 1 January 2021. The report features Liv-ex as a case study and references the evidence Miles provided in July. The full report can be found on the WSTA’s website here.
In addition, Lord Holmes of Richmond MBE is introducing an amendment to the Agriculture Bill (currently being debated in Parliament) that suggests the introduction of the impractical and damaging VI-1 import form should be suspended pending the introduction of more practical arrangements. The amendment is currently going through the House of Lords and will soon be debated in the House of Commons. You can find more information on the amendment via Lord Holmes’s blog. For more information on how you can help the UK wine trade secure the best possible outcome, click here.
We would like to take this opportunity to assure customers that whatever the outcome of current trade talks between the UK and the EU, Liv-ex members will be able to continue trading on the exchange with minimal disruption. This is due to our expansive logistics network and considerable investment in technology, as highlighted in our annual newsletter last year.
We will be sharing more details on this with our members in the coming months. For further details on the work that Liv-ex is doing behind the scenes, Liv-ex members can contact their Account Managers.
About Liv-ex
Liv-ex is the global marketplace for the wine trade. Along with a comprehensive database of real-time transaction prices, Liv-ex offers the wine trade smarter ways to do business.
We offer access to £70m worth of wine and the ability to trade with 475+ other wine businesses worldwide. We also organise payment and delivery through our storage, transportation and support services. Wine businesses can find out how to price, buy and sell wine smarter here.
With our members’ help, Liv-ex continues to obsess about making the wine market more transparent, efficient and safe and removing barriers to trade.
Further reading:
- An open letter to our members [July 2020]
- Liv-ex provides evidence for government inquiry on wine import documentation post-Brexit transition [July 2020]
- Post-Brexit trading for fine wine merchants: what will change and why should you care? [July 2020]
- Fine wine trading post-Brexit: the implications and opportunities [January 2020]
- Liv-ex interview with Miles Beale: the future of the wine industry [November 2019]
