Arguments for the TPP-11
Exporters and investors will benefit from new market opportunities as a result of the
partnership due to tariff reductions and other trade liberalisation
Delivers new market access opportunities, effectively new free trade agreements, in
relation to Mexico and Canada.
Japan will accelerate reductions in its beef tariffs to 9 per cent 15 years after the TPP11 entering into force (countries without an FTA with Japan will continue to face a
38.5 per cent tariff).
Mexico and Canada will implement new quotas for cheese, milk powders and butter.
TPP-11 countries will eliminate remaining tariffs on manufactured, resources and
energy products.
Australia will benefit from TPP-11 rules that are broader in scope than other free
trade agreements.
Includes rules on issues that have not yet been incorporated into other trade
agreements, such as rules relating to state-owned enterprises.
A large organization created by a country's government to carry out commercial
activities.
Will help ensure large SOEs in other TPP-11 countries do not discriminate against
Australian suppliers of goods or services, or benefit from unfair governmentconferred advantages.
The agreement will promote competition and encourage new market entrants in
other TPP-11 countries.
All countries agreed to cut down on wildlife trafficking. That helps elephants,
rhinoceroses, and marine species the most. It prevents environmental abuses, such as
unsustainable logging and fishing. Countries that don't comply will face trade
penalties.
Each country “shall … fulfil its obligations” under the Convention on International
Trade in Endangered Species of Wild Fauna and Flora (CITES), the global treaty that
regulates wildlife trade. To protect vulnerable species, CITES signatories are
responsible for making sure that the import and export of certain animals are
licensed.
Each country “commits to take appropriate measures to protect and conserve”
wildlife it has determined is at risk in its territory.
Countries must not weaken their environmental laws to attract investment.
They “shall combat and take measures to prevent” trade in wildlife captured
illegally.
They must end some of the most harmful fisheries subsidies. Overfishing is
considered a pressing problem facing marine ecosystems and is responsible for the
disappearance of 90 percent of the world’s big fish, such as tuna, cod, and
swordfish.