TRANS-PACIFIC PARTNERSHIP
* Enabling laws passed the Australian parliament on Wednesday.
* Strips 98 per cent of tariffs for 11 countries with a combined GDP of more than $13.8 trillion and close to 500 million consumers.
* Independent modelling shows Australia is forecast to see $15.6 billion in net annual benefits to national income by 2030 from the TPP-11.
* Accelerated cuts in Japan's tariffs on Australian beef, greater quota volumes for wheat and barley, new access for dairy products and clear investment regimes for mining and resources.
* Enters into force 60 days after six countries have ratified the agreement. So far, Mexico, Japan and Singapore have completed their domestic processes.
* Involves Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam.
* Deal was signed March 8, 2018.
