The Trans-Pacific Partnership could see South Australian wine, red meat and seafood on more tables around the globe, according to SA producers and the State Government.

While the overwhelming consensus is “it’s still too early to tell”, key SA producers have welcomed the 12-country agreement to remove and reduce taxes and tariffs which was signed in the United States overnight.

The partnership signed by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, US and Vietnam, is the world’s largest regional trade agreement, covering about 40 per cent of the global economy.

The agreement will now make it easier for producers in beef, dairy, grains, sugar, horticulture, seafood, wine, resources and energy and manufactured goods to trade with these countries.

SA Investment and Trade Minister Martin Hamilton-Smith said the TPP deals, including wine, dairy and grain, had “cleared a path” for SA industry to expand to an international market”.

“The [TPP] has presented opportunities for South Australian businesses to strengthen their investment and trade relationships in the Pacific Rim, and create jobs growth prospects,” Hamilton-Smith said.

“More and more South Australian businesses are looking beyond their existing domestic markets, selling premium products and services to the world.

“It will promote economic growth in the Asia Pacific, further integrating South Australia into the region and creating a platform for expanding trade relationships.

“South Australia has sent a strong signal that it is serious about doing business across all international sectors.”

Wine Grape Council of SA executive officer Peter Hackworth told InDaily the agreement would make Australian wine more competitive in European and North American markets but it would also open up competition from the Canadian market.

“It’s positive for wine exports. We’ll have greater access to markets and we won’t face tariffs,” Hackworth said.

“Anything that facilitates export will be helpful but we’ll know more once we see the detail.

Primary Producers SA independent chair Rob Kerin told InDaily the partnership was a “win” for wine and beef producers.

“There’ll be some criticism to it but … it just makes it all easier,” he said.

“It does open up for more greater returns in terms of products and increased quotas.

“It’s really about access and price”

Despite the warm welcome from SA industries, Independent Senator for South Australia Nick Xenophon labelled the deal a dud and said the Federal Government’s “self-congratulation” was misplaced.

Xenophon said serious concerns remained over medicine prices, an Investor-State Dispute Resolution clause and blanket secrecy over the text of the TPP.

“If this is such a good agreement for Australia then why all the secrecy?

“If the Trans Pacific Partnership is the ‘big kahuna’ of free trade deals, that just makes it a bigger mistake for Australia.

“We have become known internationally as the ‘free trade Taliban’ due to our blind devotion in the face of the damage done to Australian national trade figures.”

Food, wine and agriculture are among the state’s largest exports, combined generating $19.7 billion in revenue.

Department of Primary Industries and Regions states one in five people working South Australians are employed in the industries and account for 48 per cent of the state’s merchandise exports.

The signing comes two months after a SA delegation of 50 business people to Singapore, Malaysia and Thailand to promote the state’s jobs and trade in produce, education and hospitality.

Singapore is one of the 12 signatories to the TPP.

Hamilton-Smith will be part of a trip to Indonesia, headed by Federal Trade Minister Andrew Robb, in November after the state government was asked by the Department of Foreign Affairs and Trade to delay its visit as fallout from the executions of Andrew Chan and Myuran Sukumara in April this year.