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Monday, 26 February 2018
Page: 1949

Trans-Pacific Partnership Agreement

Consideration resumed of the motion:

That this House:

(1) acknowledges the importance of open trade and investment policies in growing the Australian economy and creating local jobs;

(2) commends the Government for leading efforts to conclude the Trans-Pacific Partnership 11 nation (TPP-11) agreement;

(3) welcomes the recent conclusion of this landmark deal which will eliminate more than 98 per cent of tariffs in a trade zone with a combined GDP of AUD $13.7 trillion;

(4) notes the significant opportunities offered by new trade agreements with Canada and Mexico and greater market access to Japan, Chile, Singapore, Malaysia, Vietnam and Brunei;

(5) recognises the importance of the agreement for Australia's farmers, manufacturers and service providers in increasing their competitiveness in overseas markets;

(6) notes indicative modelling by the Peterson Institute for International Economics, which found that the TPP-11 agreement would boost Australia's national income by 0.5 per cent and exports by 4 per cent; and

(7) encourages the Parliament to work co-operatively to ratify the TPP-11 agreement so that Australian exporters can take advantage of the many benefits it delivers.