Submission | Senate Foreign Affairs, Defence and Trade References Committee | 4 June 2018

Inquiry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11)

The Australian Chamber welcomes and supports the government’s efforts to secure the Comprehensive and Progressive Trans Pacific Partnership (TPP11). It is a regional agreement with consistent rules and approaches that apply to a number (but not all) of our major trading partners. This consistency adds value to Australian business.

This revised agreement offers significantly improved preferential market access for Australia into Japan and reduced barriers to entry into Canada and Mexico over current arrangements. It also provides benefits to Australian consumers (including businesses) through domestic tariff reductions, relaxation of investment scrutiny and will highlight Australia as a destination for tourists and students (although these benefits were available through unilateral reforms at any time without the need to negotiate trade agreements).