Tuesday 6th October 2015

TPP deal welcomed by Chamber

All New Zealanders should welcome the signing of the Trans Pacific Partnership Agreement, says Wellington Chamber of Commerce.

“This is one of the most significant trade deals New Zealand has ever signed and we must see it exactly for what it is – free access for many of our products to growing markets,” says Chief Executive John Milford.

“This is all about the net gain for New Zealand.

“Obviously we didn’t get everything we wanted, but nor did anyone else. Apart from dairy this looks to be an excellent deal for New Zealand, and it is much more preferable to be in it than not.

“As a trading nation we must look for such opportunities, and over time this has the potential to deliver huge benefits for our economy.

“The TPP represents around 40% of the world’s GDP – and our businesses need equal access to those huge markets.

“It will eliminate tariffs on 93 per cent of our exports to the United States, Japan, Canada, Mexico, and Peru.

“It’s estimated New Zealand will save $259 million a year in tariffs on goods to partnership countries and will benefit by at least $2.7 billion a year by 2030. That is significant. And what we know from the free trade agreement with China is that the initial estimates were far exceeded by actual volumes and exports.”

“The Government has done the right thing to sign up, and we congratulate our negotiators and Trade Minister Tim Groser.

“We look forward to seeing the full details.”

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