The Trans-Pacific Partnership (TPP) was on Tuesday set in stone by Trade Minister Andrew Robb and is billed as the “world’s biggest” trade deal in two decades. 

It has the potential to reduce or remove 98 per cent of import tariffs being sold to Australia’s partners in the Pacific region.

Member for Riverina Michael McCormack welcomed the announcement as positive news for Riverina farmers.

“Barley, beef, dairy, rice, wheat and wine are all key commodities which will have tariffs reduced and access to new markets under the TPP deal and this is all beneficial for Riverina producers,” he said.

Mr McCormack said the diversity of the Riverina’s produce means there are increased opportunities for export and jobs with the new trade deal.

“The Riverina is a vast agricultural region and there are a number of new opportunities for local farmers to increase their production and exports to new markets,” he said. “The government understands the importance of ensuring our farmers have the best opportunities to sell their food and fibre, which is the envy of the world, to markets across the globe.”

The Riverina MP also praised the inclusion of rice – a staple of Leeton – in the TPP arrangements.

“Rice is a challenging commodity to include in trade negotiations and our region, which is one of the largest rice producers in the country, will see significant benefit from greater trade with Japan,” Mr McCormack said. “This deal also sees a reduction in the duties on paper and paperboard, which could potentially lead to a boost for Australian exporters – particularly Visy, which has its main plant at Tumut.”

Riverina Wine Grapes Marketing Board chief executive Brian Simpson late Tuesday said the deal would bring producers back to a level playing field.

“Any reducing of tariffs is going to put us on a better level playing field,” he said.

While not yet ratified by Parliament, the announcement concludes five years of tense talks.