New opportunities through trade deal

Author: 
John Sheridan - CIO & CISO

The Department of Finance Archive

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As many of you will have already heard, the Minister for Trade and Investment and his international ministerial counterparts announced the conclusion of the Trans-Pacific Partnership (TPP) Agreement negotiations on 5 October 2015. 

On 4 February 2016, TPP countries signed the Agreement enabling the Minister for Trade and Investment to table the text in Parliament on 9 February 2016. Although it is not clear how long Parliamentary consideration, and subsequent TPP implementation may take, I thought it was timely to notify suppliers that its commencement will mean:

    • an increase to the goods and services threshold;
    • increased transparency for limited tendering;
    • strengthened procurement review procedures to improve accessibility and effectiveness for suppliers, including small and medium enterprises (SMEs), to raise any concerns; and
    • access to the government procurement markets of the other participating countries.

As with any international agreement, the Commonwealth Procurement Rules (CPRs) will be updated to incorporate the outcomes of the Agreement when it is finalised. This will mean that Commonwealth officials will not be required to refer directly to the Agreement when undertaking a procurement.

If you would like more information on the TPP, I encourage you to visit the Department of Foreign Affairs and Trade’s website as well as viewing the TPP treaty text and government procurement annexes to identify TPP countries that you may be interested in supplying to. Further information on TPP implementation timelines is available here

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Last updated: 24 January 2018