TPP agreement will give New Zealand a competitive edge
August 18, 2017
A long awaited Trans Pacific Partnership(TPP) agreement can’t come quick enough with approval for a mandate to negotiate good news says Federated Farmers.
The Government announced it will be pushing for minimal changes from the original TPP agreement with a TPP 11 proposal due to go before trade officials from 11 countries at November’s APEC Conference in Vietnam.
"This is good news for the primary sector and all of New Zealand. Let’s get on with it and get it done," says Federated Farmers’ National President Katie Milne.
"The TPP 11 will improve our country’s global competiveness and market access. And it is encouraging all members are sticking together and continuing to move forward."
One particularly attractive prospect is a trade deal with Japan- the third largest economy in the world.
"Japan is one of the major global economic powerhouses and their recent decision to apply a 50 percent tariff on frozen beef to countries it doesn’t have a Free Trade Agreement [FTA] with, has further eroded New Zealand’s competitiveness and highlights the importance of securing an FTA.
"TPP 11 will cut that tariff to just nine percent and level the playing field," says Katie.
New Zealand meanwhile has been invited to co-chair a TPP11 ministerial meeting in Vietnam in November.