'Really razor-thin benefits' – New TPP deal is worthless, says Green Party trade spokesperson

Negotiations breathing new life into the Trans-Pacific Partnership (TPP) will go ahead in Vietnam this weekend, but the deal holds "very little benefit" for New Zealand, says the Green Party.

Barry Coates says the deal now has none of the benefits and all of the disadvantages Source: Breakfast

Member countries will talk about putting a possible deal back together without the US, and already Prime Minister Bill English has had positive discussions with the Japanese prime minister.

But Green Party trade spokesperson Barry Coates, speaking on TVNZ1's Breakfast today, said the Greens initially did not think the TPP deal was "worth it", but now without the US in the deal' "it's even less worth it". 

"There are a lot of costs for New Zealand, but without the US there are even tinier benefits."

"It's really razor-thin benefits," Mr Coates said. 

Even though TPP would open up markets such as Japan, Mexico and Canada, Mr Coates says: "Now it looks like it'll be just Japan and one or two other small Asian countries, most other countries don't want to be part of this agreement."

"So, far from opening up trade opportunities, we think this paints us into a corner."