Prime Minister Jacinda Ardern says the chances of the TPP 11 trade deal being progressed in Da Nang this weekend are coming "down to the wire"
It comes as Japan's Nikkei Asian Review reports an agreement has been reached by foreign ministers.
"The 11 nations were able to reach a ministerial agreement," Japanese Economy Minister Toshimitsu Motegi told reporters after talks ended late Thursday (local time) on the sidelines of the Asia-Pacific Economic Cooperation meeting.
However that conflicts with Canadian Minister of International Trade Francois-Philippe Champagne tweeting at 6.30am today: "Despite the information circulating, there is no agreement in principle on the TPP".
Leaders of the 11 nations will look to officially agree on the deal later today.
Ms Ardern arrived in Vietnam last night for the APEC leaders summit which will be attended by the 21 world leaders including the likes of Donald Trump and Xi Xingping.
However, leaders from the 11 remaining TPP countries are also meeting on the sidelines of the Summit today to see if they can finalize the controversial trade deal – which no longer has the US.
The TPP 11 would be New Zealand's largest multi-lateral FTA to date and is estimated by the government to provide $222m in tariff gains per year once implemented. It includes the likes of Japan, Canada and Mexcio.
Upon arriving in Da Nang, Ms Ardern received a briefing from Foreign Minister Winston Peters and Trade Minister David Parker, who have both been in Da Nang for a couple of days already for preliminary ministerial meetings on APEC and TPP.
Ms Ardern confirmed there are a number of TPP 11 countries with outstanding concerns which still need to be resolved before the TPP 11 can be concluded in Da Nang, she would not go into what they are.
However, its well known that New Zealand is not happy with the Investor State Dispute Settlement clauses in the TPP 11 which deal with multi-national investment rights.
Ms Ardern wants some movement on the ISDS issues, although acknowledges that the push for change on ISDS comes at very late stage in negotiations.
Meanwhile neither the Foreign Minister Winston Peters nor Ms Ardern would be drawn on the issue of the Greens or New Zealand First's support for the TPP 11 if the government decided to back it.
New Zealand First has been a critic of Free Trade deals with ISDS clauses.
However as part of the government and Cabinet Winston Peters may be bound by Cabinet collective responsibility to support any legislation required in New Zealand to bring the TPP into force.
PETERS MEETS RUSSIAN FOREIGN MINISTER
Meanwhile Winston Peters confirmed today that he has met with a number of his counterparts from APEC nations including Russian Foreign Minister Sergey Lavrov.
Mr Peters however says there was no discussion about the stalled Free Trade Deal New Zealand has with Russia.
Mr Peters coalition deal with Labour includes a clause calling for the government to work towards a New Zealand Russian free trade deal.
Efforts to secure a deal in 2014 were put on hold by the last government after Russian Forces seized Crimea from the Ukraine
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