International beef producers are the latest to give their support for the signing of the Trans-Pacific Partnership (TPP) agreement in Auckland today.
A statement from the International Beef Alliance –whose members include beef cattle representative organisations from Australia, Brazil, Canada, Mexico, New Zealand, Paraguay, and the United States – says that today marks a step closer to realising new beef trade opportunities in the rapidly growing Asia-Pacific region.
Representing 46 percent of global beef cattle production and 63 percent of global beef exports, a release from the IBA congratulates the Trade Ministers from the 12 TPP member countries on the signing and their efforts to secure a more seamless trade and investment environment.
“Once ratified, the TPP will provide the catalyst for future beef trade growth by improving market access, lowering import costs and reducing red tape – a win for the entire beef industry supply chain as well as consumers,” says the IBA.
Beef producers and consumers will not be able to enjoy the benefits of TPP unless TPP members complete their respective domestic legal and approval processes so that the agreement can enter into force as soon as possible.
“The IBA calls on all TPP member governments to not only expedite these procedures but also to continue to engender support for the agreement,” the statement says.
“The benefits on offer through this historic trade pact will only start to flow if there is an unwavering commitment by the TPP membership to advocating the rationale for this initiative.”
Securing majority support is critical for the timely commencement of the agreement and, for its part, the IBA will be on the front line promoting the advantages for beef.
Signing the TPP is a substantial move towards the long envisioned Free Trade Area of the Asia Pacific. Encouragingly, the agreement’s framework allows for new members to join in the future – which will further magnify its benefits.