The New Zealand – United States Council strongly supports the ratification of the Trans Pacific Partnership (TPP) at the select committee examination of the Agreement.
"The TPP creates a more level playing field. It gives New Zealand greater access to the US economy. This is in the interests of our exporters and of New Zealand," NZ-US Council Executive Director Ms Cooper Clarke says.
"Since its inception, the NZ-US Council has been promoting the strategic importance of a strong, mutually beneficial NZ-US relationship and encouraging deeper trade and investment connections between the two countries.
"A key priority for the NZ-US Council has been a free trade agreement (FTA) between New Zealand and the USA, the world’s largest consumer market.
"We are delighted that New Zealand will achieve this objective through the Trans Pacific Partnership. This will be the first time that New Zealand and the USA have entered into an FTA relationship.
"The USA is already a significant trading partner for New Zealand but there is much scope to expand the economic relationship. The TPP will enrich and enhance the NZ-US relationship, encouraging more trade, investment and innovation."
Joining the TPP will provide New Zealand exporters with immediate and substantial economic benefits through reduced tariff rates in key markets. Based on the National Interest Analysis, the TPP could deliver tariff savings on New Zealand exports to the US markets of NZ$45 million upon entry rising to NZ$52 million per year when the agreement is fully implemented, not including any dynamic gains from trade.
"The TPP will help level the playing field for New Zealand exporters to US markets, make it easier for New Zealand and US firms to do business together, and deliver closer, more efficient regional and global supply chains," Ms Cooper Clarke says.
"The TPP will enhance two-way trade and investment and create a formal framework linking our two economies.
"The NZ-US Council strongly endorses the ratification of the Trans Pacific Partnership for the benefit of NZ-US relations."
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