11 May 2017

NZ govt ratifies TPP despite US rejection

2:59 pm on 11 May 2017

The New Zealand government has formally ratified the Trans-Pacific Partnership TPP), even though the deal is dead in the water without the United States.

Todd McClay

Trade Minister Todd McClay Photo: RNZ / Claire Eastham-Farrelly

Trade Minister Todd McClay said the move sent a clear message that New Zealand saw "value in a common set of high-quality rules across the Asia-Pacific".

"We are keeping all of our options open."

Japan has also ratified the agreement, but the deal can not go ahead without the United States, which has pulled out.

But Mr McClay said the TPP remained valuable both economically and strategically, and New Zealand was still actively exploring alternative options for the agreement.

He said he expected other TPP partners to also ratify in the coming months.

The ratification comes ahead of the APEC Trade Ministers' meeting in Vietnam later this month, where Mr McClay will co-chair a separate meeting of TPP ministers.

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