Across the board, New Zealand's primary industry leaders have generally applauded the Trans Pacific Partnership signed in Atlanta last night, despite the controversy attached to the agreement.

Now it's signed, however, industry figures are congratulating Trade Minister Tim Groser and Chief Negotiator David Walker on their efforts 'to secure a positive deal for the agriculture sector”.

Primary industry leaders in New Zealand have broadly welcomed the Trans Pacific Partnership. Photo: File.

Federated Farmers President William Rolleston has a stern warning for TTP opponents, saying: 'While these trade deals are never perfect, opponents of the TPP should consider the serious consequences that would be faced by New Zealand if we were not part of such a trade agreement.

'In other words, while we still await much of the detail, it's clear that we are better off today than we were yesterday. The conclusion of the TPP negotiations is the start of a journey of trade liberalisation – a journey some countries find harder than New Zealand.”

Tariff savings of $259 million per year, including $72 million for meat exports and $102 million for dairy exports, will provide an ongoing boost to farmer's incomes and for the economy as a whole. It also improves competitiveness for products in TPP markets, he says.

'TPP is New Zealand's first free trade agreement relationship with the United States, Japan, Canada, Mexico and Peru,” says William.

'With the US and Japan being the first and third largest economies respectively, the benefit of having a deal with these countries shouldn't be underestimated.”

The Bay of Plenty looks set to be a big winner as TPP will eliminate tariffs on kiwifruit exports into all 12 Asia-Pacific nations when it comes into force.

Zespri Chief Executive Lain Jager explains the most immediate impact will be in Japan. In 2014, the industry paid more than $15 million in tariffs into Japan, which is Zespri's largest country market.

Annual sales volumes to Japan are expected to increase around nine per cent over the next five years.

NZKGI President, Neil Trebilco says the most significant result in the agreement for kiwifruit growers is the elimination of these tariffs.

And he insists that together with phasing out of tariffs in Korea through a separate Free Trade Agreement, the TPP will have a significant impact on grower earnings.

'New Zealand kiwifruit growers pay around $22 million in annual Korean tariffs,” says Neil, 'so the combined savings once both agreements have been rolled out will equal around $37 million.

TPP will benefit the horticultural industry as a whole, New Zealand Horticulture Export Authority CEO Simon Hegarty says.

'Securing this agreement is a major achievement and step toward the export double growth objective,” says Simon.

'Eliminating trade distorting tariffs in our key export markets and maintaining our international competitiveness is crucial for the future. We can't flourish without access to markets and this agreement enhances that access.”

New Zealand's sheep and beef industry could be $94 million better off thanks to the agreement, which is why Beef + Lamb New Zealand and the Meat Industry Association are delighted with the successful conclusion of negotiations.

The sheep and beef sector's exports to TPP countries were worth more than $2.4 billion in 2014 – nearly one-third of the sector's total exports. That trade incurred about $94 million in tariffs last year.

'The TPP will have a significant impact on the competitiveness of our exports in TPP markets,” says B+LNZ Chairman James Parsons.

'New Zealand doesn't currently have FTAs with Japan, the US, Canada, Mexico or Peru. This deal is particularly important for us in relation to those markets, some of which currently charge very high tariffs on our exports but are highly valuable to the sector,” said MIA Chairman Bill Falconer.

'The TPP will also open the door to addressing some complex and costly non-tariff barriers.”