The Prime Minister says it is her "strong hope" that the full text of the controversial and highly anticipated CPTPP will be released on Wednesday.
The national impact statement for the Comprehensive and Progressive Trans-Pacific Partnership trade deal will also be released by the Government at the same time.
Although not guaranteeing the full text will be released, Jacinda Ardern says it is her “strong hope” the Government will be in a position to release the text at the same time as the impact statement.
At her weekly post-cabinet press conference, the Prime Minister said the Government has so far been frustrated that up until this point, not all members of the trade agreement have agreed to release the text.
She says this has been, in part, down to translation issues.
“We have been urging all parties to reach an agreement because of our strong desire to be absolutely transparent around the text as soon as possible,” Ardern said.
She said that the impact statement will be released to the public regardless of what happens with the releasing of the full text.
Late last year, the 11 countries involved in the deal reached an agreement and settled on March 8 as the day it would be signed in Chile.
Before the agreement, the deal was known just as the TPP and the CP was added as it “goes beyond reducing costs for businesses,” according to NZ Foreign Affairs and Trade Website.
The economies included in the CPTPP account for 13.5% of world GDP – worth a total of US$10 trillion.
Despite this, the deal has been highly controversial in New Zealand and protests against the agreement have drawn crowds of thousands.
Ardern says the Government has been facilitating public meetings to gauge the feedback of the public, as well as flagging with those who are interested the range of changes that have occurred to the CPTTP.
The deal’s update includes changes around Pharmac, Government procurement and businesses ability to sue the Government for investment contract breaches.
Although the deal is being signed on March 8, Ardern points out this does not mean it will then come into force.
That requires the ratification of by at least 50% of signatures.
“We will also be making sure before the signing that there is a debate in Parliament and of course the full select committee examination where the public will have their chance to have a say.”