KEY POINTS:
New Zealand is another step closer to a free trade agreement with the United States, after joining forces with Singapore, Brunei and Chile in what is called the P4 grouping.
The US has announced today it has agreed to begin a thorough exploratory process to determine whether to press ahead with full free-trade negotiations with the group.
Trade minister Phil Goff says this is a parallel path to a free trade agreement and it is a significant move. He says it also provides a building block for a much wider, high quality, agreement with other countries in the Asia-Pacific region.
The New Zealand United States Council says the sooner we seal a free trade agreement with the US the better.
Chief executive Stephen Jacobi says at the moment the US is prepared to negotiate an agreement on financial services and investments. He says it is a significant first step.
- NEWSTALK ZB
