TPP an impressive achievement
Ballingall, John | October 2015
Abstract
Today’s announcement that the Trans-Pacific Partnership agreement (TPP) has been concluded is good news for Kiwi firms and households. It’s not perfect, and the dairy sector in particular will naturally be frustrated. But TPP offers valuable benefits – and limited costs – across the economy.
Achieving full tariff elimination over time, aside from beef into Japan and some dairy products, on all of New Zealand’s exports to some of the largest economies in the world, is a very positive outcome. That and the likely gains to New Zealand firms from lower costs of doing business in Asia-Pacific regional production networks and from enhanced investment flows, will positively contribute to lifting Kiwis’ living standards. On the wider stage this New Zealand-initiated process has delivered the first large scale improvement in the global trading environment for years. It shows that globalisation’s support for improving world standards of living can continue. This is one more step in the long road to further integration in the Asia-Pacific region and puts pressure on others not involved to make similar adjustments.
Citation
Ballingall, John. 2015. TPP an impressive achievement. © New Zealand Institute of Economic Research. http://hdl.handle.net/11540/9191.Keywords
Regionalism
Regional Economy
Regional Trading Arrangements
Regional Trade Integration
Regional Economic Integration
Regional Cooperation
Interregional Cooperation
Trade Disputes
Trade Barriers
Free Trade
Trade
Trade Agreements
Intraregional Trade
Government Policy
Regional Organization
Regional Plans
Economic integration
Regional Development Bank
Preferential tariffs
International negotiation
Protectionist measures
Access to markets
Economic agreements
International trade law
Regional integration
Trade relations
Exports
Economic integration
Distribution
Economic integration
Development Bank
Trade policy
Regional economics
Regional planning
Regional disparities
Interregionalism
Regional economic disparities
Regional economic blocs
Industrial arbitration
Euro
Inflation
Business
Finance
Free trade
Show allCollapse