US commits to free trade deal with NZ

There has been another big breakthrough on the trade front.

The United States has committed to being part of an eight-nation free trade deal which includes this country.

John Key is in Singapore for the APEC summit.

He says the arrangement, which also includes Chile, Singapore and Brunei, will be worth billions of dollars.

Agriculture, a sticking point in the past, is now included.

Mr Key says New Zealand cannot expect anything concrete overnight, but work on the package will begin soon.

He says there is a desire on the American side to make progress, and our negotiators will be ready to pick up the challenge too.

Mr Key says the American commitment is an acknowledgement trade is the answer to moving the world out of recession.

- NEWSTALK ZB