The New Zealand Business Forum and the red meat industry have joined in congratulating Prime Minister Jacinda Ardern's re-branded TPP agreement.
Ardern and Trade Minister David Parker negotiated the new deal at the Apec Leaders Summit in Da Nang, Vietnam.
Beef and Lamb New Zealand and the Meat Industry Association today welcomed the announcement of the new deal which has been coined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Sam McIvor, chief executive of Beef and Lamb New Zealand, said the CPTPP would deliver significant gains to the sector.
"New Zealand's regions are hugely reliant on revenue flowing as a result of exports. Trade is the lifeblood for our sector, which in turn creates jobs and supports communities around New Zealand," he said.
"Over 90 per cent of New Zealand's sheepmeat and 80 per cent of our beef production is exported. These exports support around 60,000 jobs on farms and in processing companies, and a further 20,000 jobs in supplying sectors.
"This deal simultaneously opens up multiple markets in Japan, Mexico, Peru and Canada and puts us on a level playing field with other major red meat exporters in the Asia Pacific region, such as Australia and the European Union."