THE Trans-Pacific Partnership (TPP) Agreement will provide jobs, investment and a higher standard of living for all Australians, says Federal Member for Hume Angus Taylor.

"For the farmers of Hume, it’s a game changer. This will provide unprecedented access across 40 per cent of the world’s economy for the electorate’s exporters of horticulture, meat, grain and dairy, amongst others,” Mr Taylor said of the historic deal negotiated in Atlanta over the weekend.

“It will make doing business across the region easier, reducing red tape and business costs.

“This is fantastic news for farmers and the broader economy. A buoyant agricultural sector ultimately means a robust economy – and jobs.”

Mr Taylor said the TPP would enhance our competitiveness and promote growth.

“It will slash barriers to Australian goods exports, services and investment and eliminate 98 per cent of all tariffs across everything from beef and horticulture, through to manufactured goods, resources and energy,” he said.

He said the TPP would create new opportunities in the rapidly growing Asia Pacific region for our businesses, farmers, manufacturers and service providers.

“In 2014, one third of Australia’s total goods and services exports – worth $109 billion – went to TPP countries, which also include Brunei Darussalam, Chile, Japan, Malaysia, New Zealand, Singapore, the United States and Vietnam,” he said.

“It also creates valuable new market access opportunities for Australian exports in the three TPP parties where Australia does not have a FTA, namely, Canada, Mexico and Peru.

“Combined with our landmark trade deals with Korea, Japan and China, the TPP forms part of the government’s microeconomic reform strategy to support the diversification of our economy in this critical post-mining boom phase.”