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Not covered
by trade
agreements
10.2%
EU-28
11%
Other trade agreements under
negotiation/pending finalisation
7%
TPP
20%
Trade agreements
currently in force
52%
What is the Trans-Pacific Partnership?
• Better market access
• $274m tariffs saved a year
• $2.7b a year to GDP by 2030
• 95% tariffs removed for new partners
• Level playing field for exporters
• Benefits for tourism, education, IT
HOW TPP WILL BENEFIT NELSON
• Fish and Seafood
• Wine
• Horticulture
• Forestry
• Tourism
SECTOR SAVINGS – FISH & SEAFOOD
• Tariff savings of an estimated $9 million per year
• NZ exported $581 million in fish and seafood to the TPP region
in 2015
• All duties on NZ fish and seafood exports will be eliminated
under TPP
• Most tariffs are eliminated on the agreement’s entry into force
SECTOR SAVINGS - WINE
• New Zealand exported $952 million of wine to TPP countries in
2015
• Under TPP all tariffs on wine are eliminated
• The annual estimated tariff saving will be $16 million
OTHER WINS
• Horticulture - $34 million per year
• Forestry products - $11 million per year
• Tourism
• Law making
• Medicine
• Trade disputes
• Treaty of Waitangi
COSTS OF TPP
• Extending copyright term - $55 million
• Elimination of tariffs on imports to NZ - $20 million
• Administrative changes to PHARMAC – $4.5 million one-off
establishment cost and $2.2 million per year operating costs
• Text and National Interest Analysis now public
• Examined by Select Committee – public submissions
• Law changes through normal Parliamentary process
• Two years for all parties to complete domestic processes
• TPP then takes effect