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Robb hails release of TPP agreement text

The full text of the 12-nation Trans-Pacific Partnership free trade deal, which includes New Zealand and Australia, has been released.

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Source: AAP


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The full text of the contentious Trans-Pacific Partnership free trade deal has been released.

New Zealand's Ministry of Foreign Affairs and Trade published the text late on Thursday on behalf of the 12 countries involved in the regional trade pact.

Australian Trade Minister Andrew Robb said the text was being released well in advance of its official signing to allow the public time to examine and understand it.

He said the deal provided a pathway toward a free-trade agreement of the Asia Pacific.

"The TPP forms a transformational series of agreements that will contribute substantially to the diversification of our economy in this critical post mining boom phase," he said in a statement.

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The deal will involve 12 countries representing about 40 per cent of global economic growth including Australia, New Zealand, the US, Canada and Japan.

Mr Robb said each country would now follow its own domestic processes.

The TPP text and national interest analysis will be tabled in parliament and the joint standing committee on treaties will conduct an inquiry into the deal, he says.

NZ Trade Minister Tim Groser said he backed releasing the text as soon as all the necessary technical work to finalise the deal was done.

"I am pleased that this has happened and that the public will be able to thoroughly review the full text of the TPP well before it will be signed by governments," he said.

"This is a complex agreement, with 30 chapters and associated annexes.

"The large number of documents released today amount to over 6000 pages of text and market access schedules.

"Understanding the legal obligations of the TPP will require careful analysis of all documents, given the inter-relationship between many provisions in the agreement."

Legal verification of the text will continue in the coming weeks and it will also be translated into French and Spanish.


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