Trade deal imminent

Wellington: It is the world’s biggest trade deal of which most people have never heard.

New Zealand and 14 other countries from the Asia Pacific region are set to sign a new major trade agreement this weekend — the regional comprehensive economic partnership (RCEP).

It encompasses Japan, China, South Korea, the 10 members of the Association of Southeast Asian Nations (Asean), Australia and New Zealand, creating a free trade zone, which covers nearly a third of the world’s trade and economic output.

Trade analyst Stephen Jacobi said New Zealand’s next trade priorities were to conclude deals with Britain and the European Union in the aftermath of Brexit. — RNZ