Submission on the Trans Pacific Partnership
The Business Council strongly supports trade and investment liberalisation. Open markets deliver material benefits to consumers through greater competition and access to a greater variety of goods and services. Access to new markets provides our exporters with opportunities for expansion.
The Business Council welcomes the completion of the Trans Pacific Partnership (TPP). The agreement represents a significant opportunity for business and will strengthen Australia’s economy while generating new jobs and opportunity. The TPP addresses these through a range of commitments to ensure that over 40 per cent of the global economy is operating under consistent, harmonised rules.
The TPP should be ratified as soon as practicable as it is unambiguously in Australia’s national interest. Exporters’ ability to benefit from lower tariffs is dependent on timely implementation of the agreement.