[29 October/The Country]

The red meat sector welcomed the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). New Zealand was the fourth country to complete the ratification process. The agreement required at least six countries to ratify the agreement before it could come into force. New Zealand sheep and beef sector exports approximately 90 percent of its production. Beef + Lamb New Zealand Chief Executive, Sam McIvor, said once it came into force, it would be one of the largest free trade agreements in the world. New Zealand had lost significant market share in countries where its competitors had preferential access in the absence of the CPTPP. It would immediately put New Zealand’s red meat sector on a level playing field. The agreement would give New Zealand a competitive advantage over the United States beef industry.