Trans-Pacific Partnership Agreement good for Central Otago exporters.
Waitaki MP Jacqui Dean said she was excited about the benefits the new Trans-Pacific Partnership Agreement (TPP) would bring to Central Otago exporters.
“This new free trade agreement between 12 Asia-Pacific countries will allow free access for many of our products to growing markets and is a huge step forward for exporters.
“It will have huge benefits for wine and fruit exporters around this region saving millions in annual tariffs and opening up exciting new opportunities with 800 million-plus consumers in TPP countries to buy our goods and services.
“For the wine sector, the new agreement will have huge benefits. Already over 60 percent of this country’s wine is exported to TPP countries, with this agreement paving the way for exciting future growth.
“On top of that, $10 million in tariffs will also be saved on the current $839 million in wine exports.
“Fruit and vegetable growers have welcomed the deal saying tariffs were a prominent trade barrier component, while Japan’s inclusion was significant for the future growth of the New Zealand horticulture export sector.
“NZ growers’ current exports to TPP countries total $1.2 billion, with tariff savings of around $26 million annually.
“The numbers are huge and the future opportunities for growth are massive. I’m excited about what this agreement means for the people of Central Otago and I look forward to the regional economic benefits it will bring.”