The seafood industry has welcomed Trade Minister Todd McClay’s announcement that Cabinet has decided to ratify the Trans-Pacific Partnership (TPP).

Seafood New Zealand chief executive, Tim Pankhurst said the industry relies on trade, as does wider New Zealand.

“We exported $1.8 billion of seafood last year and free and open access to markets is critical for the industry.

“The ratification of TPP by the New Zealand government sends a strong signal that we continue to support the agreement despite the withdrawal of the United States.

“There are still very valuable markets for New Zealand among the remaining TPP countries and ratification is a show of faith in a future agreement that will be of benefit to the seafood industry.

“We commend the Minister and Cabinet for continuing to support exporters with access to global markets,” said Pankhurst.