New TPP deal essentially same as previous agreement

Protesters hold placards against the Trans Pacific Partnership during a rally on the sidelines of the Asia Pacific Economic Cooperation Summit in Lima

Economies such as Malaysia and Vietnam - with its massive state sector - are less inclined to concede ground on testy areas now the carrot of access to American markets has been taken from the table.

USA president Donald Trump withdrew his country from the TPP as his first act upon election, but the remaining 11, led by Japan, have sought to keep the deal alive.

Trade ministers from the remaining 11 countries in the grouping of Asia-Pacific nations were meeting in Da Nang as Ardern arrived, saying the talks were "down to the wire" and that her Trade and Export Growth Minister David Parker had reported "tough going" arguing New Zealand's case.

Mexican Economy Minister Ildefonso Guajardo had said earlier that the countries had reached a deal, though he gave no other details.

The United States pulled out of the TPP negotiations when Donald Trump became President.

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"We reached an agreement that has a high level of standard which also strikes a good balance", Japan's economic revitalisation minister Toshimitsu Motegi, who co-chaired the meetings in Danang, told reporters.

Charles Finny from government relations consultants Saunders Unsworth, said it will be a new agreement even though the wording might be identical to the old one. However, Francois-Philippe Champagne, Canada's trade minister, turned to social media to declare that an agreement had yet to be concluded.

Japan is leading the charge to revive the TPP.

Trump's spectacular emergence has unpicked decades of US-led work towards more open global trade and lower tariffs.

Asked whether TPP-11 would survive if a go-forward plan did not emerge this week in Vietnam, Ardern said it was "definitely coming to a head".



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