Trade Minister Tim Groser hopes a meeting in Canberra will reach a deal on freeing up overseas investment rules between New Zealand and Australia.

Prime Minister John Key and Australian Prime Minister Kevin Rudd could be in a position to announce the investment agreement when they meet in Wellington next week.

Mr. Groser would not be drawn on details about the likely deal, aimed at boosting two-way investment of more than $100 billion.

The meeting in Canberra involves Mr. Groser, Agriculture Minister David Carter, Commerce Minister Simon Power and their Australian counterparts.

The company has been rebuilding its financial position after a number of bad loans threatened its survival.