MFAT's analysis of the original 13-nation Trans-Pacific Partnership, which included the US, estimated an economic benefit of $624 million would accrue from reduced tariffs and barriers and a further $1.46 billion benefit from the removal of non-tariff barriers, with an additional $374m derived from better trade measures and $250m from the removal of barriers to services.
That would be offset by a $55m cost from a copyright extension, $20m of foregone tariff revenue and about $4.2m in administrative and marketing costs. The analysis ultimately found the deal was in New Zealand's interests.
The government has been on a charm offensive, holding meetings around the country to explain its position on the CPTPP, which sparked ire in its previous incarnation over the lack of transparency and fears it would undermine national sovereignty.
The deal is expected to be signed in Chile on March 8, but Ardern said it won't come into force until it's ratified by 50 per cent of the partners. Parliament will debate the agreement and that it will also go through select committee scrutiny for a full public examination, she said.
