The controversial Trans-Pacific Partnership trade deal is to be signed into existence in New Zealand.
Chile let the cat out of the bag early by announcing the signing last week, before officials were ready, leading to swift back-pedalling from organisers.
But the Ministry of Foreign Affairs and Trade this afternoon confirmed an event would be held in Auckland early next month.
The exact date has yet to be announced, as some of the 12 signatory countries still need to finalise home country preparations for the deal to come into force.
The deal will affect 40% of world's economy and the overall benefit of TPP to New Zealand was estimated to be at least $2.7 billion a year by 2030.
It would deliver New Zealand its long sought-after free-trade deal with the United States - the largest economy in the world - and Japan, the third largest economy, as well as Canada, Mexico and Peru.
Other TPP players are Australia, Singapore, Brunei, Chile, Vietnam, and Malaysia, all of which New Zealand has deals with.
New Zealand already had a free trade agreement with the world's second largest economy, China, which was not part of TPP.
Prime Minister John Key has welcomed the deal, which he says will give New Zealand exporters "much better access to a market of more than 800 million customers in 11 countries across Asia and the Pacific, and help Kiwi firms do business overseas."
Mr Key said the Government was negotiating with several other countries and actively pursuing a free trade agreement with the European Union.
The tariff elimination scheduled as part of the deal would save exporters $259 million a year once fully implemented. New Zealand in turn would have to remove $20 million a year in tariffs on imports from TPP countries.
- Newstalk ZB and NZME.
