Patrick O'Meara, Economics Correspondent
A report just released estimates the new Trans-Pacific Partnership will add between $1.2 billion and $4 billion to New
Zealand's economy once it is fully implemented.
Trade Minister David Parker talks to media after releasing the text of the new TPP agreement. Photo: RNZ / Jane
Patterson
The government-commissioned report on the economic impact of the Comprehensive and Progressive Trans-Pacific Partnership
(CPTPP) estimates the economy would grow between 0.3 percent and 1 percent more than if TPP had not existed, with
exporters enjoying better access to new markets such as Japan, Canada and Mexico.
The 243-page National Interest Analysis (NIA) also warned if New Zealand didn't participate, the economy would shrink by
$183 million as New Zealand firms would face higher barriers than their foreign competitors and investment would be
diverted to other TPP nations.
The CPTPP involves 11 nations - New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and
Vietnam. The United States withdrew last year under president Donald Trump.
It covers countries that account for 13.5 percent of world economic output, or about $US10 trillion.