The EMA says confirmation that agreement has been reached on the Trans Pacific Partnership is an outstanding achievement.

While New Zealand has had to compromise in some areas, the overall result will deliver significant benefits for our economy, says Kim Campbell, CEO, EMA.

“This has been a long time coming and it is a momentous occasion to see this get over the line. I have strongly advocated that it’s much better to be part of the deal, than not,” says Mr Campbell.

“We look forward to seeing the detail of the agreement. Our negotiators and Trade Minister Groser are to be congratulated on finalising this transformative deal. Overall, we believe this is a significant move for our members, particularly our manufacturing sector.

“Like all trade deals, we are confident that as the TPP matures it will contribute positively to New Zealand’s ongoing prosperity.

“We already have good free trade agreements with both China and ASEAN, and most recently the Republic of Korea deal was passed. Agreement on the TPP is a significant addition to our suite of trade deals,” says Mr Campbell.

The ASEAN agreement is due for review this year, and the Regional Comprehensive Economic Partnership (RCEP) is currently being negotiated. Work is underway on a New Zealand and European Union agreement, as Europe remains New Zealand’s third largest export trading partner and a leading source of imports.