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Red meat sector welcomes TPP conclusion

6 October 2015

Red meat sector welcomes TPP conclusion


Beef + Lamb New Zealand (B+LNZ) and the Meat Industry Association (MIA) are delighted by the successful conclusion of the Trans-Pacific Partnership (TPP) negotiations, as announced by Trade Minister Tim Groser and his TPP counterparts earlier today in Atlanta.

“We’re confident that New Zealand’s negotiators have secured the best possible deal for Kiwi sheep and beef farmers,” says B+LNZ Chairman James Parsons.

“The TPP will have a significant impact on the competitiveness of our exports in TPP markets.”

The sheep and beef sector’s exports to TPP countries were worth more than $2.4 billion in 2014, nearly one-third of the sector’s total exports. That trade incurred about $94 million in tariffs last year.

“New Zealand doesn’t currently have FTAs with Japan, the US, Canada, Mexico or Peru. This deal is particularly important for us in relation to those markets, some of which currently charge very high tariffs on our exports but are highly valuable to the sector,” said MIA Chairman Bill Falconer.

“The TPP will also open the door to addressing some complex and costly non-tariff barriers.”

New Zealand’s FTAs saved $161 million in tariffs on the sheep and beef sector’s global exports last year, and the conclusion of the TPP means that number will continue to grow.

The full details of the TPP, including the specific tariff cuts that will take place in the various markets, are expected to be released by the government soon.

B+LNZ and MIA work together to improve access for sheep and beef products to overseas markets, including by providing in-depth analysis to support the government's trade negotiation efforts.

ends

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