TPP final text released

Todd McClay. FILE

Trade Minister Todd McClay today announced that New Zealand has released the legally verified TPP text, in its capacity as Depositary of the Agreement.

"This is the final version of the Agreement, which will be signed by TPP countries in February. New Zealand looks forward to hosting this important event," Mr McClay said.

New Zealand released an earlier version of the text on November 5.

"As Depositary, New Zealand will also release French and Spanish versions of the text."

Legal verification is the final step in a treaty negotiation prior to signature, and involves the treaty text being reviewed by the Parties' legal counsel to ensure it is consistent.

Immediately after signature the Government will submit the text of TPP to Parliament, along with the National Interest Analysis, for treaty examination.

After that, the legislative changes required to implement TPP will go through normal Parliamentary procedures, including select committee scrutiny.

The legally verified text is available at www.tpp.mfat.govt.nz/text

Earlier:

Trade Minister and Rotorua MP Todd McClay has today announced the early release of the National Interest Analysis (NIA) for the Trans-Pacific Partnership (TPP).

"This document comprehensively analyses what TPP means for New Zealand, across the entire Agreement," said Mr McClay.

"It finds that entering TPP would be in New Zealand's national interest, adding an estimated $2.7 billion to GDP by 2030."

The Government will submit the NIA, together with the text of the agreement, to Parliament following signature of TPP for Parliamentary treaty examination.

"New Zealand has published an unprecedented amount of information on TPP," said Mr McClay.

This includes 10 fact sheets released following the conclusion of negotiations on 5 October. The TPP text was first made public on 5 November, together with additional information on the estimated economic benefit and details of potential costs.

"The Government will also be running roadshows for the public to learn more about TPP, and to help businesses prepare for the economic opportunities it will bring," said Mr McClay.

The NIA and the text of the agreement are available at www.tpp.mfat.govt.nz.