The ability of foreign companies to sue governments under the Trans-Pacific Partnership trade pact has been narrowed ahead of its ratification by member states.

The full text of the resuscitated agreement was publicly released on Wednesday.

The deal, which had been on life support after the United States' withdrawal, is expected to be signed by the remaining 11 countries at a meeting of trade ministers in Chile on March 8.

Read more: TPP trade deal worth $4b to NZ


New Zealand Trade Minister David Parker says 22 items had been suspended from the original deal, including changes to intellectual property law and taxpayer subsidised medicine.

It also narrowed the scope of the controversial investor-state dispute settlement clause, he said.

The clause allows companies to sue governments for changing policies if it harms their investments.

Trade Minister Steve Ciobo says the agreement eliminates more than 98 per cent of tariffs in a trade zone with a combined GDP of $13.7 trillion.

Under the TPP, Australian exporters will benefit from new agreements with Canada and Mexico and greater market access to Japan, Chile, Singapore, Malaysia, Vietnam and Brunei.

Read more: Ardern says re-branded TPP 'not perfect but better than what we had'

There's also a better deal for exporters of Australian cheese and beef to Japan and new quotas for rice and wheat.

Australian sugar producers will also have better access to Japan, Canada and Mexico's markets.


Opposition trade spokesman Jason Clare said Labor would support the agreement if it's good for Australian jobs.

The 11 countries involved are Australia, NZ, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Vietnam.

US President Donald Trump surprisingly flagged the possibility of re-joining the TPP last month.

Prime Minister Malcolm Turnbull may discuss the deal with Trump when the pair meet in Washington later this week.