The Executive Director of the NZ-US Council, Fiona Cooper Clarke, has welcomed the signature of the Trans Pacific Partnership (TPP) agreement in Auckland today.
“We are delighted that the TPP has been signed, the culmination of several years of intensive effort by trade negotiators. We congratulate Prime Minister Key, Minister McClay, former Minister Tim Groser and New Zealand’s Chief Negotiator Dr David Walker on this fine achievement,” says Ms Cooper Clarke.
“The TPP marks the first time that New Zealand and the USA have entered into an FTA relationship. The USA is the world’s largest consumer market. The TPP will drive the NZ-US economic relationship forwards, encouraging more trade, investment and innovation. Since its inception the NZ-US Council has been working towards achieving an FTA agreement between the two countries so today is a very good day for NZ-US relations.”
“The TPP is New Zealand’s biggest free trade agreement to date. As set out in the joint letter of support for TPP to Prime Minister Key signed by Council Chairman Simon Power earlier this week, New Zealand stands to gain significantly from the TPP which links 36% of global GDP, 812 million consumers and includes markets taking 40% of our exports. We expect TPP will deliver lasting benefits to the New Zealand economy.”
There is still much water to flow under the TPP bridge, with ratification processes required in all twelve TPP economies before entry into force. The NZ-US Council looks forward to sharing its views with Parliament as part of the New Zealand ratification process.
The joint letter referenced above can be found at the following link: