"There is nothing sitting on the table as far as I am aware of it. I was asked that question - could one day they put in more [money], the answer is yeah, anything is possible.
Because we see it as a genuine and legitimate way of promoting New Zealand's interests in the Middle East. But there is nothing planned at the moment."
Mr Al Khalaf lost millions of dollars when a ban on exports of sheep for slaughter was implemented under the previous Labour Government, and then subsequently extended by National.
Foreign Minister Murray McCully has said that Labour had misled Mr Al Khalaf about the prospects of a halt on sheep exports for slaughter being overturned, before legislation was amended to implement a permanent ban. That led to Mr Al Khalaf seeking legal advice that stated he could sue for up to $30 million.
Last week Labour's export and trade spokesman David Parker - who has rubbished National's citing of a legal claim that he says was clearly hollow - took the unusual step of handing out Cabinet papers under the previous Labour Government this afternoon in order to "call the Prime Minister's bluff".
Mr Key had hinted that the 2007 Cabinet papers would embarrass Labour over its criticisms of National's commercial solution to settle the dispute, saying Andrew Little would be surprised to learn about "the actions that they [the previous Labour Government] were looking to take".
The documents, with redactions made through the Cabinet office after consultation with officials from relevant government departments, showed no evidence that Labour gave any consideration to a commercial solution, or the need for one in order to placate investors including Mr Al Khalaf.
The papers do note that reaction from investors and trading partners, including Saudi Arabia, would be a risk of a total ban.
"A bilateral Arrangement has also been under negotiation to allow for the resumption of live sheep exports on a commercial basis, and the Saudis have received good-faith assurances from New Zealand to this end," one of the papers co-signed by former Agriculture Minister Jim Anderton noted.
This afternoon, Mr Key said the papers showed then trade minister Phil Goff gave assurances to a Saudi minister in 2006 that the ban would be dropped, before that decision was reversed without communication to the Saudis.
"I don't believe this instance is something that has been created by National, I accept that we rolled over the ban. But I don't think that we created that issue."
Mr Goff has angrily rejected that charge, saying National had been caught out.
"I said to the Saudis in 2006 if we can resolve this so that we meet proper animal welfare standards, then the resumption of live exports could occur. Subsequently the international issue became the nature of slaughter of animals being exported live...the examples were appalling.
"Our Cabinet made the decision that not only were the welfare conditions of the sheep during transport of importance, but also the manner of slaughter once they arrived in the country of destination."
Mr Parker today said the Prime Minister's explanations of the Saudi sheep deal were riddled with inconsistencies.
"Either he has been misled by his minister Murray McCully or the Prime Minister is deliberately obfuscating in order to confuse the public."
