Audrey Young: The TPP done deal that turned out not to be

Trade Ministers from 11 countries at the Apec summit thought they had reached agreement late last night on the Trans Pacific Partnership agreement, but there had been a terrible mistake. Photo / AP

It was an unusual thing for the new Trade Minister, David Parker, to do, to visit the New Zealand media hotel at 6.30 am in Danang, Vietnam, to brief us on dramatic developments in TPP talks overnight.

But there were several reasons for Parker's actions.

Rumours of what had happened were bound to start trickling out and it was important to establish the facts, even if in a limited way, and to make it clear that New Zealand was not holding up the TPP over Investor-State Dispute Settlement provisions.

It was unusual for new Trade Minister David Parker to give the New Zealand media a 6.30am briefing at their hotel in Danang, Vietnam, but there were several good reasons for him doing so. Photo / AP

The fact is that Trade Ministers from 11 countries thought they had reached agreement late last night and had all but broken out the rice wine when, like the Best Picture blunder at this year's Oscar, someone said there had been a terrible mistake.

One country, had misunderstood a part of the agreement and there was no agreement.

Parker also made it clear that it was not Canada either - despite its Trade Minister taking to Twitter last night to contradict reports from Japan's Trade Minister that an agreement in principle had been reached.

Parker's public revelation may put added pressure on the hold-out nation to find a resolution or to bow out and let the deal go ahead as TPP10.

The 11 leaders of TPP countries are due to meet about 8pm NZ time. Before that happens, Jacinda Ardern is due to meet the leaders of Vietnam, Japan and Malaysia, all TPP countries.

While that is going on, chief negotiators will be earning working overtime to iron out the "misunderstanding".

It is hard to believe that a deal could get this far - in fact to be virtually agreed - and a settlement not be found.

If nothing else, Parker's open briefing on important development is a welcome departure from rumour and speculation.