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Trans-Pacific Strategic Economic Partnership

Media Statement 18 July 2005

Trans-Pacific Strategic Economic Partnership signed and National Interest Analysis released


Trade Negotiations Minister Jim Sutton today put his signature to the Trans-Pacific Strategic Economic Partnership, and released an assessment of how the agreement impacts on New Zealand and New Zealanders.

The Trans-Pacific SEP links New Zealand, Chile, Singapore and Brunei.

Mr Sutton said it was a high quality free trade agreement that builds new strategic and economic links between our country, Latin America and Asia.

"Evidence of the benefits that it will deliver for New Zealand can be seen in the study that was released today."

The national interest analysis has been presented to Parliament, along with the Trans-Pacific SEP and accompanying agreements on labour and environment, under the parliamentary treaty examination process.

Mr Sutton said the national interest analysis is a formal assessment undertaken to inform consideration of the agreements by the Foreign Affairs, Defence and Trade Select Committee.

The agreements were negotiated between 2002 and 2005, and are expected to enter into force on 1 January next year.

Mr Sutton signed the Trans-Pacific SEP and accompanying Labour Cooperation MOU and Environment Cooperation Agreement in a ceremony at parliament today. The Chilean Ambassador signed for Chile and Singapore's High Commissioner for Singapore. Brunei will sign the agreement early next month.

A copy of the National Interest Analysis can be obtained at:

http://www.mfat.govt.nz/tradeagreements/transpacepa/transpacsepindex.html

ENDS


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