So what does the bill do? Well, the bill is really an omnibus bill that makes the required legislative amendments to give effect to New Zealand's signing of the Regional Comprehensive Economic Partnership. It's a free-trade agreement signed by 15 countries which are home to almost a third of the world's population, including seven of our 10 trading partners who take over half of New Zealand's total exports and provide more than half of our direct foreign investment. It is significant. 