Prime Minister John Key says momentum is building in terms of efforts to get a major multi-nation free-trade pact over the line as world leaders prepare to discuss the deal at a meeting in Bali.
Speaking on the sidelines of the APEC summit in Bali on Monday, the New Zealand prime minister said he remained hopeful that an agreement on the Trans-Pacific Partnership (TPP) free trade deal could be reached before the end of the year.
"There's a lot of goodwill there. There's a genuine desire to see the TPP concluded," Mr Key said on Monday evening local time (Tuesday morning NZ time).
"Certainly I did sense that there's momentum from the bulk of the leaders."
Negotiations over the TPP began in 2007 with the aim of expanding an existing free trade agreement between Chile, New Zealand, Singapore and Brunei to include the United States, Australia, Vietnam, Peru, Mexico and Canada.
The New Zealand Goverment wants a TPP that would eliminate all tariffs and Mr Key has previously said that if a deal is reached, it could boost the nation's economy by more than $NZ3 billion a year.
But Mr Key, who will chair talks on the TPP in Bali on Tuesday after US President Barack Obama was unable to attend APEC, has already wound back expectations after earlier suggesting a deal could be concluded as early as this month.
"I think it will be a success if we feel momentum is maintained, and there's a real commitment to try and see if we can close the deal by the end of the year," he said.
"It doesn't mean that it's a failure if we don't get there because these are quite big hurdles to get over now. It's a very big deal and it's complex with a lot of moving parts, but my sense is that leaders do want to get there."
However, he said compromises would have to be made from all involved.
Mr Key was forced to step into the role as chair of the TPP talks after Mr Obama was a late withdrawal from APEC due to concerns over the so-called "shutdown" in the United States, stemming from a budget stand-off with Republicans.
Following the APEC summit, Mr Key will fly to Brunei for the East Asia Summit to be held on October 9 and 10.