The Scotch Whisky Association (SWA) and the Scottish Craft Distillers Association (SCDA) have signed a memorandum of understanding (MoU) to bolster the country's whisky industry and supply chain.

With approximately 40 new distilleries at various stages of planning and development across Scotland, the agreement will allow the organisations to support each other in bolstering the market.

Scotch whisky is reported to contribute £5bn to the Scottish economy, provide more than 40,000 jobs and export Scotch worth £4bn to around 200 markets annually.

SWA acting chief executive Julie Hesketh-Laird said: "We are seeing unprecedented investment in the Scotch Whisky industry by companies of all sizes.

"This is a clear sign of optimism in the future, and recognition of the global demand for a high-quality product.

"Our collaboration with the SCDA reflects the strong partnership that has developed between new and established distillers."

"This agreement demonstrates both organisations' determination to work co-operatively together to protect and enhance Scotch Whisky's reputation now and in the future."

Under the MoU, the SWA and SCDA intend to work towards understanding the rules, as well as production, handling and marketing capabilities of the scotch whisky industry.

SCDA chairman Alan Wolstenholme said: "Both long-established Scotch Whisky producers and the new wave of smaller distilleries recognise the enormous value and importance of the high regard our national product is held in around the world.

"This agreement demonstrates both organisations' determination to work co-operatively together to protect and enhance Scotch Whisky's reputation now and in the future."

The organisations plan to enhance the existing industry information, collaborate amongst current memberships, enable shared approaches to stakeholder engagement, and ensure that the workforce is appropriately skilled.