In a press release, Trade Minister Hon Todd McClay said the TPP was important for New Zealand as it would remove trade barriers for New Zealand exporters of goods and services in the Asia-Pacific region. He stated that this bill made all the national legislative changes necessary to meet New Zealand`s obligations in the TPP, with the exception of the plant protection rights obligations that New Zealand had to implement for three years after the agreement came into force. Foreign Affairs and Trade Minister Todd McClay said the passage of the legislation “will signal New Zealand`s commitment to further international trade liberalization. At a time when uncertainty exists in the rest of the world, New Zealand must be heard consistently and trustworthyly in negotiating trade outcomes that are good for our economy. (Press release, Todd McClay, TPP Bill Passes Third Reading, BEEHIVE. Govt. NZ (November 15, 2016).) In addition, he said that “we need to take the time to give the new U.S. government time to fully review its trade agenda. In the meantime, New Zealand will continue its own proven path to openness and inclusion in global trade. (Id.; Hon. Todd McClay, TPP Bill: Third Reading Speech, BEEHIVE. Govt. NZ (November 10, 2016).) The Minister pointed out that the Committee on Foreign Affairs, Defence and Trade had reviewed the text of the TPP and the analysis of the national interest of the TPP and presented its report to Parliament.
The legislative amendments introduced by the Act would not come into force until after the TPP for New Zealand comes into force. He also said that the TPP could enter into force at the end of 2017/early 2018, once countries have completed their respective internal processes necessary to ratify the agreement.  On 14 January 2019, the agreement came into force for Vietnam.    legislation.govt.nz/disclosure.aspx?type=bill&subtype=government&year=2016&no=133 The Trans-Pacific Partnership (TPP) is a free trade agreement to liberalize trade and investment between 12 Pacific states: New Zealand, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, the United States and Vietnam. Two-thirds of the provisions of the signed CPTPP are identical to the proposed TPP at the time the United States left the negotiation process. The chapter on SOEs remains unchanged and obliges signatories to share information on SOEs with the intention of addressing the issue of state intervention in the market. It contains the most detailed intellectual property standards for a trade agreement and protection against intellectual property theft against companies operating abroad.  (November 22, 2016) On November 15, 2016, the New Zealand Parliament passed the Trans-Pacific Partnership Amendment Bill (TPPA) Act. (Trans-Pacific Partnership Agreement Bill, New Zealand Parliament website (last visit was 16 November 2016); Text of the latest version (133-3) of the law on the site of New Zealand legislation.) The bill amends various legislative provisions to implement the Trans-Pacific Partnership (TPP) agreement signed by 12 countries on February 4, 2016.