AmCham welcomes Trans-Pacific Partnership agreement

Press Release – American Chamber of Commerce AmCham welcomes Trans-Pacific Partnership agreement The American Chamber of Commerce welcomes the successful conclusion of the Trans-Pacific Partnership (TPP) negotiations, as announced by Trade Minister Tim Groser and his TPP counterparts earlier today …AmCham welcomes Trans-Pacific Partnership agreement The American Chamber of Commerce welcomes the successful conclusion of the Trans-Pacific Partnership (TPP) negotiations, as announced by Trade Minister Tim Groser and his TPP counterparts earlier today in Atlanta. AmCham Executive Director Mike Hearn said “the TPP deal is a positive start to removing trade barriers with an important group of economies that New Zealand hasn’t had FTA’s with – the US, Japan, Canada, Mexico and Peru. TPP nations represent 40% of world GDP. The US is already New Zealand’s third largest trading partner with bilateral trade valued at over $11 billion annually. This will have been a hard deal to conclude with all the competing interests and compromises will have been required by all parties. While we have not seen the detail of the agreement we understand there will be benefits for NZ exporters from tariff and quotas reductions for beef, dairy, wine, manufactured goods traded with the USA”. According to Trade Minister Grosser “The most significant change is an extension of New Zealand’s copyright period from 50 years to 70 years. The cost of this to consumers and businesses will be...

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