Trans-Pacific Partnership to be signed in February

The Trans-Pacific Partnership will be signed by all 12 countries at a ceremony in Auckland, New Zealand next month, Newstalk ZB reported on Tuesday.

The deal between the US, Japan, Canada, Australia, New Zealand and seven other Pacific-rim nations was finalised in October and is the largest trade deal in two decades.

It will cover 40% of the global economy, according to the Financial Times, and will create a new Pacific economic bloc with reduced trade barriers for everything from beef and dairy to textiles and pharmaceuticals.

New Zealand’s Ministry of Foreign Affairs and Trade confirmed an event will be held early in the month.

Newstalk ZB reported the exact date still has to be finalised as some of the 12 signatory countries still need to complete preparations for the deal to come into force.

It followed Chile last week letting the cat out of the bag early before officials were ready.