CPTPP text and National Interest Analysis released for public scrutiny 22 Feb 2018
Hon David Parker
21 FEBRUARY 2018
Minister for Trade and Export Growth David Parker has today welcomed the release of the text of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“New Zealand has been working hard to see the text made public as quickly as possible,” Mr Parker says.
“Public scrutiny of trade agreements is welcome and important. We’ve been publishing detailed information about the CPTPP since November, and now people can see the full legal text for themselves.”
An analysis suggests it could be worth up to $4 billion a year to the New Zealand economy once fully implemented.
Mr Parker said the Government and its trade negotiators had contributed to changes that meant the CPTPP was a major improvement for New Zealanders over the previous TPP.
Those changes included the suspension of 22 items in the earlier agreement.
“The suspensions mean that prior expensive changes to New Zealand’s intellectual property law and our medicine-buying agency Pharmac no longer apply,” Mr Parker says.
“The suspensions also narrow the scope of investor-state dispute settlement in the CPTPP, an area of particular concern to us.”
It also includes commitments to safeguard and enforce labour and environmental standards and it upholds the Treaty of Waitangi.
And we have found a way to ban foreign buyers of existing homes.
The trade agreement will create new opportunities for international trade, including preferential access for the first time to Japan, Canada, Mexico and Peru.
“CPTPP has become more important because of the growing threats to the effective operation of the World Trade Organisation rules,” Mr Parker says.
The full text of the CPTPP is available online at https://www.mfat.govt.nz/en/about-us/who-we-are/treaties/cptpp
The Ministry of Foreign Affairs and Trade has also released today the National Interest Analysis of the CPTPP, which assesses the likely costs and benefits for New Zealand of entering into the Agreement.
“The analysis concludes that it is in New Zealand’s national interest to ratify the agreement,” says Mr Parker.
“It estimates that the CPTPP will boost New Zealand’s economy by $1.2 billion to $4 billion a year once fully implemented. That’s a significant increase in a country where 620,000 jobs are dependent on exports.”
“At the same time, it outlines how the CPTPP protects New Zealand’s right to regulate in the public interest, including in such areas as health, education and the environment.”
The National Interest Analysis is available online at https://www.mfat.govt.nz/cptpp. It will be updated next month with more details of side letters that will be signed along with the agreement.
Public briefings and consultations on the CPTPP are continuing around the country. There will also be a full select committee and parliamentary examination process, Mr Parker says.
“We are keen to keep hearing what New Zealanders think.”
The CPTPP will be signed in Santiago, Chile, on 8 March. The 11 countries involved are New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Viet Nam.
16 Mar 2018 News
16 MARCH 2018 New Zealand supports the joint statement made by the leaders of the UK, US, Germany and France on the nerve agent... more
16 Mar 2018 Business News
Macro-prudential policy has been particularly useful in the current environment of globally low interest rates, where monetary policy... more
13 Mar 2018 Environment
12 MARCH 2018 New Zealand has joined the United Nations-led CleanSeas campaign to rid our oceans of plastic, Associate Environment... more
12 Feb 2018 Property
MONDAY, FEBRUARY 12, 2018 The Government's housing stocktake report released today adds no new knowledge or... more
12 Feb 2018 Property
12 FEBRUARY 2018 An independent stocktake of New Zealand’s housing sector has found the housing crisis the country faces is deeper... more
26 Jan 2018 Migration
26 JANUARY 2018 Immigration Minister Iain Lees-Galloway has today announced the four community-based organisations who will be the... more
22 Feb 2018 Travel & Tourism
International visitor spending reached a record high of $10.6 billion in the year to December 2017, Tourism Minister Kelvin Davis... more
28 Aug 2017 Travel & Tourism
Tourism fund for infrastructure and conservation Posted by Kris Faafoi on August 28, 2017 Labour will estaba Tourism and... more
13 Mar 2018 Rugby
12 March 2018 France's upset victory over England in the Six Nations at the weekend was the perfect result for the All... more
22 Feb 2018 Sport
New Zealand has tripled its Olympic Winter Games medal count in a single stunning afternoon at PyeongChang 2018. Zoi... more
11 Nov 2016 Opinion
Gordon Campbell on the Gareth Morgan crusade First published on Werewolf The ghastly likes of Marine Le Pen in France and Geert ... more
29 May 2017 Appointments
29 May 2017 Former Secretary for Justice Belinda Clark has been appointed as Law Commissioner, Justice Minister Amy Adams announced... more
8 Mar 2018 Recruitment
8 MARCH 2018 Minister of Employment Willie Jackson today visited the Auckland CBD Jobs and Skills Hub and the Southern Initiative in... more