The Autonomous Sanctions Bill is currently being considered by an expert group and Nanaia Mahuta hopes it will begin development early next year.
Earlier in 2022, the Foreign Affairs Minister signalled she would be stewarding through a Bill that would allow New Zealand to sanction countries outside of the UN system.
"An expert group has now been established and we'll be taking advice from their consideration," she told Newshub Nation this week.
Mahuta would not "go to the degree to say that an Autonomous Sanctions Bill is under development".
She is hopeful the advice will come back before the first quarter of next year, "but it will take as long as it takes".
Were New Zealand to gain the ability to sanction countries outside of the UN's system, Aotearoa could sanction countries like Iran - similarly to how Moscow was sanctioned at the outset of the Russia-Ukraine war.
Mahuta has reaffirmed New Zealand's support for de-escalating the Russia-Ukraine conflict but has refused to say whether Kyiv should be willing to cede territory to aid peace talks.
"It's a matter for Ukraine and Russia to discuss. Obviously, it's important that those two parties can see their way through.
"We can advocate for that," Mahuta said.
Whether peace talks are underway or not, New Zealand "supports Ukraine defending itself, its sovereignty and territorial integrity".
It's hard to determine, however, whether New Zealand would provide the same support as China to invade Taiwan.
"We're very consistent in terms of upholding international law, the rules and norms that regulate and keep peace and prosperity in our region," Mahuta said.
"Our plea is that all states observe international rules and norms, and we uphold these rules and norms to keep peace and stability in our region."
When asked what New Zealand's One China policy is, Mahuta noted "it was a policy that was agreed to well before I was a member of Parliament".
"We recognise the economy of Chinese Taipei but, in terms of our overall relationship there, that is within the context of a one-China policy.
"There are territorial matters in relation to China's interests but that hasn't prevented New Zealand [from] having an economic relationship with Chinese Taipei, but we also recognise the indigenous economy and it's very bespoke to New Zealand."
Mahuta notes Aotearoa's free trade agreement with China has "opened up opportunities to a number of New Zealand exporters".
However, "we continue to express our concerns in the areas where [China] contravenes our values".
One of these areas is the continued persecution of the Uyghur Muslim minority in northwest China.
Mahuta affirmed that New Zealand has "called for an unfettered investigation".
Former UN human rights commissioner Michelle Bachelet alleged that China has committed "serious human rights violations" which may amount to crimes against humanity against Uyghur Muslims.
Mahuta said New Zealand had acknowledged that report and many of its recommendation "fall to China to take action".
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