The Trans-Pacific Partnership Agreement (TPPA) is being hailed a success after a deal was struck today between 12 Pacific nations.
Fonterra says the result for dairy is far from perfect, but the deal is a step forward.
Economic Development Minister Steven Joyce told the Paul Henry programme the gains made in other sectors are significant.
"It's not everything we wanted in dairy by any matter of means but you can't ignore these other industries," he says.
"The meat industry, the fruit industry, the wine industry, the forestry products industry, the manufacturing sector – all of these get the benefits. Dairy gets some benefits – in fact dairy is still the largest single item of tariff savings – but it's a big win for New Zealand."
Tariffs will be eliminated on 93 percent of New Zealand's trade with its new free trade partners.
Meanwhile, University of Waikato Professor of Agribusiness Jacqueline Rowarth says the TPPA opens doors for the industry.
"What this does is create the debate about which countries should be producing which food," she says. "We can produce milk for less cost… fewer greenhouse gases, water use, and all of those sorts of things than any other country. People will begin to recognise this."
Watch the video for the full interviews with Steven Joyce and Jacqueline Rowarth.
