WELLINGTON, April 24 — New Zealand and Australia are working closely to manage the economic impacts of global shocks and ease pressure on household budgets, New Zealand Finance Minister Nicola Willis said Friday.
Willis attended the annual Australia-New Zealand dialogue with Australian Treasurer Jim Chalmers in Brisbane, Australia, in which they focused on managing fuel price pressures caused by the Middle East conflict, strengthening supply chains, and coordinating responses to geopolitical and economic shocks affecting both economies, said a statement by the New Zealand government.
Willis and Chalmers also discussed the impact of higher fuel and freight costs on Pacific island nations, agreeing to continue assistance with international partners, including the World Bank and the Asian Development Bank.
The meeting highlighted efforts to deepen trans-Tasman economic integration under the Single Economic Market agenda, the statement noted.
“Stronger integration means greater resilience during global shocks,” Willis was quoted as saying.(Namibia Daily News/Xinhua)
