PM happy to work with known team

US President Barack Obama with Prime Minister John Key. Photo / NZPA

Prime Minister John Key last night welcomed the re-election of President Barack Obama.

"From New Zealand's point of view I was always confident we could work with either side if they won but having a well-established personal relationship with [him] certainly makes that easier from my point of view," Mr Key said from Parliament.

They will meet again later this month at the East Asia Summit in Cambodia if President Obama attends. Mr Key said that for New Zealand, it was "a carry-over of situation normal for us".

"It's a known quantity obviously with President Obama and a team that we know and work well with."

Key added: "Second terms are always like that but he's come through with a solid victory."

Asked why he thought the victory was solid, Mr Key said: "They probably looked at President Obama and said 'this is a guy who's done his level best over the last four years; it's been very difficult conditions for him to operate'.

"My sense is the American public thought ... well he is a good guy, let's give him four years and see if under better conditions he can really speed up growth in the US."

Asked if Mr Obama's re-election would create momentum for the Trans Pacific Partnership talks being negotiated among 11 countries, Mr Key said "it certainly won't hurt".

The next round of TPP talks is in Auckland next month.