NZ gov’t releases TPPA text as opposition mounts

comments     Bernama     Published     Updated

The New Zealand government today released the legally verified text of the controversial Trans-Pacific Partnership Agreement (TPPA) trade deal as opposition mounted ahead of next month’s signing ceremony, reports China’s Xinhua news agency, citing a statement by Trade Minister Todd McClay.

The text was the final version of the agreement, which would be signed by ministers of the 12 participating nations in Auckland on Feb 4.

According to the statement, as depository of the agreement, New Zealand would also release French and Spanish versions of the text.

Immediately after the signing, the New Zealand government would submit the TPPA text to parliament, along with the National Interest Analysis (NIA), and the legislative changes required to implement the agreement would go through normal parliamentary procedures.

Also today, the government released the NIA, drawn up by the Ministry of Foreign Affairs and Trade, which analysed the impact of the TPPA on New Zealand.

“It finds that entering TPPA would be in New Zealand’s national interest, adding an estimated NZ$2.7 billion (US$1.74 billion) to GDP by 2030,” said McClay.

However, the main opposition Labour Party said the gains were “marginal” at less than 1 percent of GDP and compromised New Zealand’s sovereignty.

“This analysis confirms the Trans-Pacific Partnership Agreement will prevent future governments making laws in the interest of New Zealand,” Labour leader Andrew Little said in a statement.

Meanwhile, Auckland University law professor Jane Kelsey said the NIA was “a totally predictable cheerleading exercise that talks up the supposed gains and largely ignores the huge downsides” of the TPPA.

The “flimsy NIA” contrasted to the careful and detailed analysis in five peer reviewed expert papers on the implications of the TPPA that showed the deal had no net benefit for New Zealand, Kelsey said in a statement.

The expert papers said the TPPA could inflict significant constraints on the New Zealand economy and environment as well as other areas.

Organisers of a protest march against the TPPA in Auckland on Feb 4 said they were expecting thousands of people to turn out.

- Bernama



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