Single country causes TPP holdup

The Trans-Pacific Partnership deal is being held up by one country, but it could just be a translation issue.

Speaking in Vietnam, Trade Minister David Parker said the meeting of TPP ministers concluded about 10pm on Thursday night (local time) and there was an air of celebration.

‘‘The view of the ministers in the room was that we had an agreement that was acceptable to all parties, and there was celebratory clapping and backslapping amongst those officials that had been working so hard on this for so long.’’

But an issue arose when the deal was handed over to officials to go over the completion to the changes to the text, which was agreed at the meeting.

Officials from one country said they had not reached an agreement, Parker said. Earlier, discord had emerged between Japan and Canada, as Japan said countries ‘‘agree in principle’’ on a way forward, but Canada said there was no such agreement.

Parker said it was neither New Zealand nor Canada holding up the deal, but he would not say which country was holding things up. When asked whether it was a matter of something lost in translation, rather than a legal technicality,

"We've made it clear that for the future we're not on for ISDS clauses."

Trade Minister David Parker

Parker said that could be the case. He added that he did not know how long it would take to resolve the issue, or whether it could be resolved.

However, the Japanese leader, who was the deputy chair of the meeting, had been tasked with overseeing the attempted resolution of the issue.

Parker refused to reveal what the issue was, saying it could prejudice negotiations.

When asked about the investor state dispute settlement (ISDS) clauses, which were a sticking point for New Zealand, Parker said they had been ‘‘improved but not completely resolved’’.

‘‘We’ve made it clear that for the future we’re not on for ISDS clauses.’’

He would not give further details other than to say New Zealand ‘‘got some of what we want, not all of what we want’’.

Earlier Prime Minister Jacinda Ardern, speaking with Foreign Affairs Minister Winston Peters beside her, said talks would continue ‘‘as long as it potentially takes’’.

‘‘It’s fair to say these negotiations are now down to the wire. It is still not clear what the outcome will be.’’

Just a day earlier, she said she believed the chances of TPP getting over the line were ‘‘50/50’’.

Meanwhile, National trade spokesman Todd McClay said the deal had to be now or never.

‘‘It must be this weekend. If it’s not, momentum will be lost.’’

McClay, who was heavily involved in the earlier stages of TPP negotiations under the former National government, said his instinct was the deal would get over the line.

It was important one country’s demands did not hold the other 10 hostage, he said, adding that the parties involved would have to decide whether they could continue without one of the countries, if it reached that point.

‘‘To allow any one country to stop the agreement going forward would be disastrous for New Zealand exporters.’’

If an agreement was reached it would be ‘‘a day of celebration’’, McClay said, adding it would be a win for trade liberalisation.

If TPP-11 was agreed upon, Parliament would have to pass a law to reflect changes from the original TPP-12. However, that was expected to be limited in scope. McClay said National would vote in favour of this legislative change.