PM welcomes significant Pacific trade deal progress

Prime Minister John Key has welcomed today’s announcement of the broad outlines for the Trans-Pacific Partnership (TPP) free trade agreement, and hailed it as an important step towards gaining greater access for New Zealand exporters.

The agreement was announced at a meeting of the nine countries in the TPP hosted by US President Barack Obama on the fringes of the APEC summit on Honolulu.

“This is a significant step in the TPP negotiation process,” says Mr Key. “Having all nine countries, including New Zealand, agreeing on the broad outlines for an agreement is very important.

“We have always pushed for lower trade barriers. It is good for our exporters, good for economic growth, and good for New Zealand.

“Today’s announcement signals that there is a strong political commitment from each country to conclude this free trade agreement.

“I look forward to the detailed negotiations to come making substantial progress towards the final goal of a high-quality, comprehensive trade agreement.”