New Zealand Government Releases Full Text Of Trans Pacific Partnership

(Photo: Backbone Campaign/flickr/cc)

(Photo: Backbone Campaign/flickr/cc)

The text of the controversial Trans Pacific Partnership trade deal has been released by the New Zealand Government, setting the scene for revived protests and political debate.

Thousands of pages documents detailing the sweeping provisions of the TPP were posted on the Ministry of Foreign Affairs and Trade website by New Zealand on behalf of TPP member countries late this evening.

The website said the text would continue to undergo legal review and would be translated into French and Spanish language versions prior to signatures.

The deal was completed on October 5 and member governments said they were aiming to release the text within 30 days.

But a number of provisions in the trade deal are highly controversial and that could stall or even halt its passage in the United States, without which the deal would fall apart.

The New Zealand Government also faces opposition after the deal failed to deliver big gains for dairy, our largest export product.

There has also been alarm over “investor state” provisions in the agreement which opponents say allow foreign companies to challenge domestic rules and regulations and potentially win millions of dollars in damages.

But the Government says the TPP accounts for 40 per cent of the world economy and is too important to walk away from.

Trade Minister Tim Groser  welcomed the release of the text.

“I am pleased that this has happened and that the public will be able to thoroughly review the full text of the TPP well before it will be signed by governments.

“This is a complex agreement, with 30 Chapters and associated annexes.  The large number of documents released today amount to over 6,000 pages of text and market access schedules.  Understanding the legal obligations of the TPP will require careful analysis of all documents, given the inter-relationship between many provisions in the Agreement.

“Following signature, TPP, like any free trade agreement, will need to go through New Zealand’s Parliamentary processes,”  Groser said.

“The Government has already released a number of fact sheets outlining the content of the TPP. Also released today is additional information on the estimated economic benefits of TPP on the New Zealand economy, and details on how potential costs associated with copyright and administrative provisions relating to PHARMAC have been arrived at.”

The Government would also release a legal summary of the Agreement over the coming

The deal is a boon to New Zealand exporters, wiping tariffs on a range of goods exported to the United States, Japan, Canada, Mexico and Peru.

.The government estimates its worth at $2.7 billion a year by 2030 for New Zealand at a minimum.

Sectors getting the most benefit include beef, fruit and vegetables, sheep meat,forestry products, seafood, wine and industrial products.

TPP opponent Professor Jane Kelsey said Thursday’s release of the TPP  text ended a ” farcical situation”

“Governments were touting the benefits for the nation with no prospect of any independent assessment to contradict them,” Kelsey said.

“It is not clear whether this will also start the 90-day countdown before President Obama is allowed to sign the agreement under US law, or whether any of the other countries would sign unilaterally before the US does.”

But Kelsey said ‘the legal text was not enough on its own.

“We need to see the background documents that help make sense of the text, but the parties have vowed to keep secret for effectively another six years.’

‘We also need the various analyses the New Zealand government has relied on when talking up the benefits and playing down the costs. They have been coy about who has done this work, especially the projections of $2.7b benefits for the economy, and stalled on Official Information Act requests to release them, despite the High Court’s rebuke last month’.

© 2015 Fairfax New Zealand Limited

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This BBSNews article was syndicated from MintPress News, and written by Stuff New Zealand. Read the original article here.

This BBSNews article originally appeared on MintPress News.