New Zealand and China sign financial dialogue arrangement

Secretary to the Treasury Gabriel Makhlouf has welcomed a new Memorandum of Arrangement formalising a financial dialogue between the New Zealand Treasury and the Ministry of Finance of the People’s Republic of China.

The signing of the financial Memorandum of Arrangement between New Zealand and the People’s Republic of China was witnessed today in Beijing by Prime Minister Jacinda Ardern and Premier Li Keqiang.

"This Arrangement is a positive step forward in further deepening New Zealand’s engagement with China," says Mr Makhlouf.

"The Treasury has been building its relationships with key counterparts and other stakeholders in China in recent years. The signing of the Memorandum of Arrangement formalises and important relationship with China’s Ministry of Finance. There are fiscal, financial and economic issues of mutual importance to our two countries and there is much we can learn from each other. For example, public and regulatory policy is an area in which New Zealand is considered to be world leading. Strengthening the connection in this area and others will build understanding and benefit both nations.

‘We aim to launch the inaugural financial dialogue this year and cover a range of topics of interest.

"New Zealand and China have existing strong trade and economic relations. The financial dialogues between the New Zealand Treasury and the Ministry of Finance of the People’s Republic of China will reinforce further the countries’ bilateral relationship and advance our shared objectives.

"The Memorandum of Arrangement makes New Zealand one of only a small number of bilateral partners to have a financial dialogue in place with China. This Arrangement exemplifies the importance that the Treasury places on international connections, which are reflected in a range of formal and informal interactions that we have both directly and through international financial institutions, the OECD, IMF and other forums."

ENDS

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