The red meat industry is relieved that a Trans-Pacific Partnership trade agreement has finally been agreed.
Photo: 123rf.com
The gains for New Zealand seem to be largely from improved market access for wine, kiwifruit and beef particularly into the Japanese market.
Beef and Lamb's advocacy and policy manager Dave Harrison said it relieved the stress caused when an agreement made in Vietnam fell over at the last minute in November.
"It's been a fraught process."
He said the issues that caused a stumbling block in Vietnam have been ironed out without affecting market access arrangements that New Zealand had negotiated.
Mr Harrison said the big gain for the meat sector is access into Japan.
He said since 2015 when Australia signed an agreement with Japan, this country has faced a trade tarrif disadvantage of about 11 percent to the Australians.
"Over that period their (Australia) market share has grown cumulatively by $1 billion while ours has dropped by about $30 million."
Mr Harrison said once the agreement was ratified there would be a level playing field.
"We will be able to get back in there and hopefully get back some of those gains."
He said the agreement struck a good balance.
"Between being able to protect the interests of New Zealanders while increasing our ability to trade which is our life-blood."