World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

TPP business community welcomes agreement

TPP business community welcomes agreement, calls for early ratification

The business community strongly supports the Trans Pacific Partnership (TPP) and looks forward to seeing the agreement enter into force as quickly as possible, say a group of business representatives drawn from eleven TPP economies.

The group is currently in San Francisco attending a meeting of the APEC Business Advisory Council (ABAC). TPP was signed in New Zealand on 4 February 2016.

ABAC Member for New Zealand Tony Nowell, speaking on behalf of the group, described TPP as a “historic opportunity to transform trade in goods, services, investment and ‘new economy’ issues in the TPP economic zone.”

The TPP economies represent 36% of global GDP and 812 million consumers.

“Business and consumers will benefit from improved rules for trade and investment and the creation of the right environment for global value chains to grow. The cost of doing business will be reduced significantly as tariffs and non-tariff barriers are removed,” Mr Nowell said.

“The TPP economies will enjoy greater prosperity as a result of improved access to goods and services and enhanced flows of capital,” he added.

The business representatives congratulated the governments of the TPP economies on the conclusion of the agreement.

“Now what is needed is prompt action to ratify the agreement. We urge TPP governments to take the necessary steps to allow the agreement to be implemented at the earliest opportunity.

“In many economies, that will include a process of robust debate. We welcome such debate, and look forward to advocating strongly for the benefits that this agreement offers to all participants,” concluded Mr Nowell.

ENDS

© Scoop Media

 
 
 
World Headlines

 

Gordon Campbell: On The Chemical Weapons Attack (and Response) In Syria

The past week’s headlines about the chemical attacks in Syria – and the military response by the US, France and Britain – have tended to overshadow a few of the downstream outcomes. More>>

ALSO:

Pacific Moves: China, Vanuatu And Australia

Washington’s vigilant deputy, doing rounds on the beat in the Pacific, has been irate of late. The central issue here is the continuing poking around of China in an area that would have been colloquially termed in the past “Australia’s neighbourhood”. More>>

ALSO:

Diplomatic Madness: The Expulsion of Russian Diplomats

How gloriously brave it seemed, some 23 nations coming together like a zombie collective to initiate a fairly ineffectual action in of itself: the expulsion of Russian diplomats or, as they preferred to term it, intelligence operatives. More>>

ALSO:


Campbell On: the US demonising of Iran

Satan may not exist, but the Evil One has always been a handy tool for priests and politicians alike. Currently, Iran is the latest bogey conjured up by Washington to (a) justify its foreign policy interventions and (b) distract attention from its foreign policy failures. More

ALSO:

Cyclone Gita: 70% Of Tonga Population Affected

The full scale of destruction is beginning to emerge from Tonga in the aftermath of the severe tropical cyclone Gita. Around 50,000 people, or almost 70% of the country’s population, have been affected, a third of whom are children. More>>

ALSO:

 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC