CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. TPP Free Trade Deal To Be Signed On Feb 4

TPP Free Trade Deal To Be Signed On Feb 4

by Mary Swire, Tax-News.com, Hong Kong

21 January 2016


New Zealand will host the signing ceremony for the Trans-Pacific Partnership agreement on February 4, 2016, the nation's Trade Minister, Todd McClay, has announced.

"New Zealand has issued invitations to TPP Ministers to sign the Agreement in Auckland," McClay said. "Signature will mark the end of the TPP negotiating process."

"Following signature, all 12 countries will be able to begin their respective domestic ratification processes and will have up to two years to complete that before the agreement enters into force," he said.

The TPP signatories make up 36 percent of the global economy and import over 40 percent of New Zealand's exports – NZD20bn (USD12.9bn) in goods, and NZD8bn in services. Once the TPP is fully phased in, tariffs will be eliminated on 93 percent of New Zealand's trade with its new FTA partners: the United States, Japan, Canada, Mexico, and Peru.

"TPP will ultimately give New Zealand around NZD260m of tariff savings a year," McClay said.

TAGS: free trade agreement (FTA) | export duty | tariffs | trade treaty | Mexico | Canada | New Zealand | Peru | United States | import duty | trade | Japan | services

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »