TPP a significant milestone for NZ and Australian exporters - FreshFruitPortal.com

TPP a significant milestone for NZ and Australian exporters

More News Top Stories
TPP a significant milestone for NZ and Australian exporters

Horticulture New Zealand and Australian group Ausveg have welcomed signings of the Trans Pacific Partnership (TPP) from their respective countries, with New Zealand expected to see big gains in the Japanese market.

HortNZ estimates savings for nine key products; kiwifruit, apples, avocado, buttercup squash, capsicum, cherries, onions, potatoes and vegetable juices, with an estimated value of more than NZ$2.5 million (US$1.68 million) a year for the growers now exporting these products to Japan, Vietnam and the U.S.

Japan is New Zealand horticulture’s third largest market and a tariff reduction will lead to improved competition and confidence.

"The reduction and eventual removal of these tariffs doesn’t just mean savings for growers exporting now, but it means the products they export in the future will be more competitively priced and able to challenge the offerings from other countries," HortNZ chief executive Mike Chapman in a release.

"Market access is an issue that never goes away for horticulture. So an agreement like this is overwhelmingly welcomed by growers, who can now be more confident about the markets they supply and can continue to plan for growth in their business."

Australian Minister for Agriculture and Water Resources, Barnaby Joyce, agrees the TPP signing will drive stronger profits to Australian agricultural and food producers.

The 12 TPP parties include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, Vietnam and the U.S.

"We’re a step closer to the benefits that will flow from the world’s largest ever regional trade agreement, an agreement including five of our top 10 trading partners," he says.

"These countries represent 25% of world trade, 36% of the global economy and around a third of our agriculture exporters.

"This agreement gives us preferential access that will have real, tangible outcomes for exporters of most of our main export commodities."

Minister Joyce adds the TPP is the latest in a series of trade deals signed by the Australian Government that are cutting tariffs and opening new opportunities for agricultural and food producers.

"The agreements with Korea, Japan and China are delivering real returns and we’re now working toward bilateral agreements with India and Indonesia, two important trading partners where demand for agricultural and food products is set to boom in the coming decades.

"At the same time, we are working hard to pursue improved technical market access. Tariff reductions and eliminations are essential but we also need to achieve technical market access to translate FTA outcomes into real opportunities."

Photo: www.shutterstock.com

www.freshfruitportal.com 

Subscribe to our newsletter