Export tariffs will be eliminated on 93 per cent of New Zealand’s trade with its new partners. The TPP will also reduce non-tariff barriers to trade that hold up or prevent export shipments.
“Wine, honey, meat, forestry, all of those have had reasonably good reductions of tariffs into the countries we export into,” says Rick Shera, a partner at Lowndes Jordan, on the Idealog website (external link) .
The TPP will reduce barriers to trade in services. Access to TPP markets has been locked in for New Zealand service providers across a range of sectors, including providers of professional, business, education, environmental, transportation and distribution services.
In addition, New Zealand businesses will be able to compete for government procurement contracts in TPP countries on an equal footing with domestic suppliers.
Exporting can be a great option for tapping into bigger markets, but make sure you do your research first.