The select committee considering the Trans-Pacific Partnership (TPP) legislation has recommended it be passed with minor amendments.
The bill makes changes to align the country's laws with its obligations under the TPP, which New Zealand signed in February.
Labour and the Greens opposed the bill.
The Labour Party said the government has failed to effectively represent the long-term interests of New Zealand in the trade negotiations.
The Green Party said a number of key issues raised by submitters have been inadequately addressed, including copyright laws constraining innovation, and the agreement weakening rules on foreign investment.