Rt Hon John Key
Prime Minister
18 November 2015

TPP Leaders meet to discuss next steps in Manila

Prime Minister John Key and the Leaders of the other 11 Pacific-Rim nations today marked the conclusion of negotiations of the historic Trans-Pacific Partnership trade agreement.

TPP Leaders met in the margins of the APEC meetings in Manila to welcome the final agreement reached in Atlanta in October.

“Leaders are pleased that after more than five years of negotiations we have delivered a result that takes forward our vision of an ambitious regional agreement,” Mr Key says.

"TPP is our biggest-ever free trade deal, covering 36 percent of global GDP, and will mean significant long-term benefits for New Zealanders.

“New Zealand’s economy is estimated to benefit by at least $2.7 billion a year by 2030.

“Leaders are now focusing on their respective national processes to bring TPP, and the benefits that will flow from it, into effect.

“Once the agreement has been signed it will be presented to the New Zealand Parliament for examination by a select committee. Legislation that is required to implement TPP will then go through Parliament in the usual way.

“The public will have an opportunity to comment and be involved,” Mr Key says.

Leaders also welcomed the interest other economies have expressed in TPP, and looked forward to further consultations with prospective members.

ENDS

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