Rt Hon John Key

Prime Minister

4 February 2016

TPP overwhelmingly positive for NZ – PM

Prime Minister John Key welcomed today’s signing of the Trans-Pacific Partnership Agreement in Auckland, confirming it will be overwhelmingly positive for New Zealand in supporting more trade and investment, jobs and incomes.

“Today is a significant day, not only for New Zealand but for the other 11 countries in the Trans-Pacific Partnership,” Mr Key says. “I’m proud of the role the New Zealand Government and officials have played in getting to this point.

“TPP will provide much better access for goods and services to more than 800 million people across the TPP countries, which make up 36 per cent of global GDP.

“The Agreement has been many years in the making and I acknowledge the efforts of all TPP countries in bringing negotiations to a conclusion.

“TPP is our biggest-ever free trade deal and is estimated to boost our economy by at least $2.7 billion a year by 2030. That will help to diversify our economy and mean more jobs and higher incomes for New Zealanders.

“It is New Zealand’s first FTA relationship with five of the TPP countries, including the largest and third-largest economies in the world – the United States and Japan. Successive New Zealand Governments have been working to achieve this for 25 years.

“As a country, we won’t get rich selling to ourselves. Instead, we need to build new global markets for our products and services, and TPP will help make that happen.

“I believe strongly that New Zealand’s future is in being open and connected to the rest of the world,” Mr Key says.

The next step is for member countries to ratify the Agreement so it can come into force.

“We will encourage all countries to complete their domestic ratification processes as quickly as possible.

“This is because the TPP is not only good for New Zealand, it is really positive for the Asia Pacific region.

“Other countries have already signalled an interest in joining TPP and this could lead to even greater regional economic integration. A more prosperous and therefore secure region, is in all of our interests,” Mr Key says.

ends

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