TPP roadshows to educate on trade deal

  • 26/01/2016
TPP roadshows to educate on trade deal

The Government has released a detailed analysis of the benefits of the Trans-Pacific Partnership ahead of a series of roadshows aimed at helping the public and businesses learn more about it.

The impact of the 12-nation free trade agreement on the New Zealand economy was assessed in 10 fact sheets published after negotiations concluded in October last year.

Trade Minister Todd McClay said today the national interest analysis (NIA), which runs to nearly 300 pages, confirmed the TPP would add an estimated $2.7 billion to the economy by 2030.

"This document comprehensively analyses what the TPP means for New Zealand, across the entire agreement," he said.

The NIA says New Zealand exported goods and services worth $28b to TPP countries in 2014 and the agreement will deliver better access to those markets.

"New Zealand's future is as a trading nation. The TPP will help support that by setting a new standard for trade and investment in the Asia Pacific region, generating substantial long-term economic and strategic benefits," it says.

The TPP will be formally signed by trade ministers from the 12 TPP countries in Auckland on Thursday next week.

After that the text of the agreement and the NIA will be submitted to Parliament and examined by a cross-party select committee.

Legislation will have to be passed to implement some of its provisions.

The TPP partners are New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States and Vietnam.

Opponents of the TPP say it could undermine New Zealand's sovereignty, and at the Ratana celebrations on Sunday a spokesman for King Tuheitia called for the signing to be delayed until the agreement had been "talked through" with Maori.

Prime Minister John Key said that wasn't going to happen.

"Maori have got absolutely nothing to worry about," he said.

NZN