The Trans-Pacific Partnership could be put off for another two years unless US President Barack Obama gets quick approval for the free trade deal in the next two weeks.
The Trans-Pacific Partnership (TPP) is proposing a free trade agreement between Australia, Brunei, Canada, Chile, Japan,Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
If the bill allowing the TPP to occur is passed, then the proposal will be on track. If it is not passed, trade ministers say that realistically the matter will not discussed again for at least two years.
The setback is due to growing concerns about what impact the TPP could have on people’s lives, based on the experience after previous free trade deals.
New Zealand Trade Minister, Tim Groser, said while the TPP is not perfect, it looks like it will be a good deal for New Zealand.
Time is running out for President Barack Obama to get the bill passed before his time as president comes to an end.