Audrey Young reports:
Prime Minister John Key will replace US President Barack Obama as chairman of a top-level meeting in Bali this week.
On Friday afternoon, Obama cancelled his trip to the leaders’ summit of the Asia-Pacific Economic Co-operation forum on the island because of the American Budget crisis that has resulted in about 800,000 Government workers not being paid.
US Secretary of State John Kerry will represent Obama at the summit, and at the Trans Pacific Partnership meeting on the sidelines.
NZ Trade Minister Tim Groser said it was decided yesterday that Key should chair the meeting of the 12 countries negotiating the TPP agreement.
The 12 countries are Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. Their combined GDP is around US$25.4 trillion.