Trans-Pacific Partnership deal reached


Ministers from Trans Pacific Partnership (TPP) countries reached agreement in talks on the trade deal on Thursday, Mexican Economy Minister Ildefonso Guajardo said, although ministers from several other countries declined to comment.

After a meeting, Japan's economy minister said all the member countries "agree in principle" on where the pact is headed, CNBC reported.

New Zealand Prime Minister Jacinda Ardern had earlier said negotiations were going down to the wire.

Discussions around ISDS clauses had been tough going and continued to be but New Zealand is persisting, she said.

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Canadian Prime Minister Justin Trudeau is expected to be among the leaders Ms Ardern meets with.

Trade ministers from 11 remaining members are in Vietnam wrangling over details of the deal - which no longer promises access to the world's largest market - on the sidelines of the annual APEC summit.

Ardern, making her first major outing on the global stage, said she had prioritised formal bilateral meetings with leaders from TPP countries, meaning meetings with Xi and Trump may only occur informally as China is not a member of TPP and the United States is no longer. To forestall that, National Party trade spokesman and trade minister until last month Todd McClay pledged National's support to ensure any TPP-related legislation could pass with support from Labour and National.

Significantly, Parker gave the strongest indication yet New Zealand is ready to sign the TPP-11 deal, despite getting less than the new Labour-led government wanted in terms of watering down investor-state dispute settlement provisions.