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.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
* 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.
