Finance Minister Nicola Willis met with her counterpart in Australia today and discussed business opportunities between the two countries.
Willis flew to Australia today for the meeting with Australian Treasure Jim Chalmers. The trip was announced early this morning.
This afternoon, Willis said she had shared the new Government’s "ambitious economic goals" with Chalmers, along with its plans to grow trade, and deepen investment links between the two countries.
“We agreed the single economic market is the best model for close integration of two sovereign independent countries anywhere in the world — and we need to keep it that way. So, Treasurer Chalmers and I will work together to adapt it to reflect our modern economic and social challenges.
“This includes identifying and improving regulations standing in the way of the uptake of lower emissions technology and identifying options to strengthen regulatory coherence to support an efficient transition to net zero."
Willis said she also confirmed her commitment to the Australia-New Zealand Climate and Finance 2+2 Dialogue, which will be held in Australia mid-2024.
"Working together to tackle the challenges of clean energy transformation is critical if both our nations are to maximise the substantial benefits of the transition to net zero."
The two also discussed "the importance of responding to our region’s shared economic challenges" she said, including "addressing banking challenges facing the Pacific".
“New Zealand and Australia are committed to stopping the decline of correspondent banking relationships in the Pacific, including through the upcoming Pacific Banking Forum."
She said she and Chalmers agreed to collaborate on opportunities to support ongoing efforts to improve the operating environment for financial services in the region.
Earlier, Willis said New Zealand and Australia have an incredibly strong trade and investment relationship and the Closer Economic Relations and Single Economic Market were "powerful engines" for growth on both sides of the Tasman.
"We're creating an environment where businesses can more easily invest and where New Zealand can become a haven for talent, capital and innovation."
Willis also met with investors and members of the business community, as well as Australian Government Services Minister Bill Shorten and New South Wales Treasurer Daniel Mookhey.
She'd said she was looking forward to discussing ways to achieve "bold economic goals, grow trade, and deepen investment".
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