TPP Bill has its first reading in ParliamentTrade
Trade Minister Todd McClay has welcomed the first reading of the Trans-Pacific Partnership Agreement Amendment Bill in Parliament today.
It will now be considered by the Foreign Affairs Defence and Trade Committee.
“Successive New Zealand governments have pursued free trade agreements to support New Zealand’s global connectedness, maximise opportunities for exporters, and in turn grow the prosperity of the economy for the benefit of all New Zealanders. TPP is the latest in this legacy,” says Mr McClay
“For all of this year, the Foreign Affairs Defence, and Trade Committee will consider the TPP Bill, and can hear submissions from the public. At the end of this process, the Committee will report back to Parliament.”
The Bill will make all domestic legislative changes required to comply with New Zealand’s obligations in the Trans-Pacific Partnership, with the exception for obligations related to plant variety rights, which New Zealand has a three year period following entry into force to implement.
Introduction of the TPP Bill to the House, and its passage through Parliamentary processes including Select Committee scrutiny, is an important step in New Zealand completing its domestic procedures necessary to ratify the Trans-Pacific Partnership.