NZ signs controversial CPTPP agreement
Yesterday morning in Chile, the government committed NZ to the controversial Pacific Trade Deal, the Comprehensive and Progress Agreement for Trans-Pacific Partnership (CPTPP).
Trade Minister, David Parker, signed the deal with his counterparts from 10 other Pacific nations and says it's claimed it'll boost NZ's economy by as much as $4 billion.
“We see these agreements as helping measure the effectiveness of trade in support of overcoming the challenges of poverty, environmental degradation, the rights of indigenous groups and the rights of women in order to participate more fully in our economies.”
Head of FoMA (Federation of Māori Authorities) is celebrating its signing.
"This will go well for Māori exporters. We're seeing immediate returns, for example, kiwifruit on day one almost $26 million saving just in Japan market alone and that goes well for Māori orchardists and growers."
New Zealand has also signed a side letter to exclude ISDS with Australia, the source of 80% of investment from the CPTPP nations into New Zealand.
But there are the critics, including lawyer Jane Kelsey who does not agree to this agreement with many protests within the past two years and fears that Treaty Rights will be eroded.
“The government is engaging in super spin. It knows the assurance that it's giving it can't guarantee.”
Māori exporters and businesses are praising the signing and the government hopes NZ will soon realise and reap its benefits.