"The new agreement contains the same prohibition of export taxes," he said.
The use of water in New Zealand was still protected. The Government's right to regulate around that was still protected. The issue that concerned the TPP negotiation was export taxes.
Many countries around the world had export taxes including on agricultural products and that affected prices.
"So one of our key objectives in many of our negotiations has been to try to restrict because of the impact it has on global prices, including a range of products that we do care about."
"The policies that you'd use to manage water would be based around the Resource Management Act and thee consents that we might have on the use of water.
Vangelis said there had been no date set for the signing of CPTPP, but it could be in the first quarter of next year.
Many of the questions centred on changes to the Investor State Dispute Settlement provisions under the CPTPP to reduce the circumstances in which the arbitration procedures can be invoked.
National has said it will support the deal but former Foreign Minister Gerry Brownlee argued that the change had been overstated, while Labour MPs argued that much had changed.
Four outstanding issues are yet to be resolved.
The CPTTP is an agreement among 11 countries, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, and Vietnam.
About 20 provisions of the original TPP agreement have been suspended pending a decision by the United States to rejoin.