Government moves to cement TPP trade pact

Australian businesses will have the opportunity to link with 500 million consumers through ratifying the Trans-Pacific Partnership, the trade minister says.

The government has moved to officially rubber stamp Australia's commitment to the Trans-Pacific Partnership trade pact.

Trade Minister Steve Ciobo introduced the bill to the lower house on Thursday, saying it would give Australian businesses the opportunity to link with 500 million consumers and a long-term competitive advantage over countries outside of the agreement.

The TPP-11 agreement is between Australia, Japan, Malaysia, Vietnam, Singapore, Brunei, New Zealand, Canada, Mexico, Peru and Chile, with the US pulling out of the deal when Donald Trump became president.