TPP announcement delayed

Major progress has been made in the long running trans Pacific trade deal. Photo / NZ Herald

An announcement of the outcome of Trans-Pacific Partnership discussions has been delayed.

Japanese Economic and Fiscal Policy Minister Akira Amari told reporters in Atlanta progress had been made on a number of sticking points in the agreement - including dairy, a crucial issue for New Zealand.

"There was major progress over the outstanding issues of pharmaceuticals, dairy products and place-of-origin rules for automobiles," he said.

A press conference was initially scheduled to be held at 9am NZT. That was delayed to 11am NZT, and has now been delayed until further notice.

A plenary session was held this morning after discussion had led many in Atlanta to think a deal was being reached.

Peter Maybarduk, director of global access to medicine for American-based group Public Citizen, told Newstalk ZB earlier today the mood was tense.

"It's a dramatic issue because the longer the monopoly periods are the longer it takes to get affordable bio-similars on the market.

"It's been a tremendous debate here for more than five years now and perhaps today they're reaching some kind of a compromise or solution that won't make anyone happy.

"Australia and United States seem to have reached some sort of very fuzzy compromise about these issues overnight."

Maybarduk said the ministers for each country will come together for a plenary session in one hour.

See here for a live stream of the planned press conference later today from Atlanta: