United States confirmation that it will start negotiating entry to the Trans Pacific Partnership (TPP) - with new trade flows for New Zealand - is a significant step, meat industry groups say.
President Barack Obama, in his first major trade initiative since taking office, announced last month in Tokyo that the United States would negotiate to join the Trans-Pacific Partnership (TPP), a regional free trade agreement that already includes Chile, Singapore, New Zealand and Brunei.
He has now formally notified Congress that the United States sees the talks as a chance to set the standard for 21st-century trade agreements .
Australia, Peru and Vietnam also want membership in the agreement, which supporters say will help ensure that the United States is not left out of regional trading arrangements in one of the most dynamic regions of the world.
The first round is due to start on March 15 in Australia, which already has a bilateral free-trade agreement with Australia, something New Zealand has been unsuccessfully seeking for years.
The Congressional notification from the United States Trade Representative, Ron Kirk, of intent to negotiate TPP, is a significant step towards trade liberalisation within the Asia Pacific region," says Meat and Wool New Zealand chairman Mike Petersen.
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