The last piece of the Trans Pacific Partnership puzzle to fall into place early Monday morning was dairy, with the holdout coming from demands for increased market access by Australia and New Zealand.

“The extraordinary thing about dairy products…is that New Zealand has only two and a half percent of world dairy production and roughly one third of world trade,” said New Zealand trade minister Tim Groser. “This is unquestionably positive for our dairy farmers.”

Listen to Groser comments here: New Zealand trade minister Tim Groser

U.S. Trade Ambassador Michael Froman mentioned dairy as one of the agricultural sectors that will benefit most under the TPP. “Our dairy industry has become a more export-oriented industry in the last ten years,” he said. “We now export about 15% of our dairy products and this will open up additional opportunities in these other countries where they face either tariff or non-tariff barriers.”

Listen to Froman’s comments here: USTR Michael Froman

Canadian dairy producers are disappointed in the increased access to their market granted in the agreement but Trade Minister Ed Fast stressed the global benefits of the TPP. “We’ve positioned Canada very strongly to be part of a much larger trade agreement, the largest in the world, providing Canada with a once-in-a-lifetime opportunity to shape outcome and rules within the Asia-Pacific region,” said Fast. “We believe the outcome is one that very much reflects Canada’s long term interests.”

Listen to Fast’s comments here: Canadian trade minister Ed Fast