November 9, 2017 / 10:23 AM / a month ago

New Zealand says unclear if TPP agreement can be reached this week

DANANG, Vietnam (Reuters) - It is not clear if countries in the Trans Pacific Partnership (TPP) can reach an agreement this week at a meeting of Asia-Pacific leaders to carry forward the trade pact, New Zealand’s trade minister said on Thursday.

Ministers from the 11 countries are meeting in Vietnam’s central resort of Danang on the sidelines of a summit of the Asia Pacific Economic Cooperation (APEC) grouping to discuss how to proceed with the deal after the United States withdrew.

“The negotiation is proceeding but it has not yet been finalised,” New Zealand Trade Minister David Parker told Reuters.

“There are many countries that want to achieve finality this week, but it’s not yet clear whether consensus can be achieved.”

Parker added that the 11 countries were discussing suspension of certain provisions of TPP in order to proceed with the trade deal, but no consensus had been reached.

Reporting by Mai Nguyen; Writing by A. Ananthalakshmi; Editing by Clarence Fernandez

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