GLOBAL – Cattle and sheep producers around the world have applauded trade ministers for the successful conclusion of the Trans-Pacific Partnership (TPP).
US cattle industry body, the National Cattlemen’s Beef Association (NCBA) said the ‘truly 21st century agreement’ would boost US beef trade.
Bringing together 12 nations; Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam, the TPP will reduce tariffs and standardise trade specifications on food.
Almost 40 per cent of the world’s economy has been brought higher food standards, according to the US trade representative.
For New Zealand, this means NZ$94.3 million of trade tariffs in 2014 will be reduced, pandering to the demands of several producer organisations around the world.
"We understand that the TPP will eliminate tariffs on New Zealand's sheep and beef sector exports to the US, Canada, Mexico, Peru and Vietnam," said Beef and Lamb New Zealand’s Dr Scott Champion.
He said Japan had been the “main focus” for New Zealand, eyeing a “level playing field with Australia.
He said: "The New Zealand agriculture sector generates 62 per cent of New Zealand's goods exports.
“If that sector can capture greater value for New Zealand as a result of the TPP, which will lift the standard of living for all Kiwis and ensure that rural communities can prosper."
New Zealand has been paying $13 million to the US and $2.9 million to Mexico.
Wyoming cattleman and NCBA President, Philip Ellis, said TPP is a “major win”, not just for beef but all US export products.
“While the full details of the partnership will not be released until the President presents it to Congress, cattle producers are assured this is a true 21st century agreement,” said Mr Ellis. “The TPP will immediately reduce tariffs and level the playing field for U.S. beef exports to these growing markets.”