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Cullen to attend APEC Finance Ministers' meeting

Hon Dr Michael Cullen
Minister of Finance

1 September 2006 Media Statement

Cullen to attend APEC Finance Ministers' meeting

Finance Minister Michael Cullen will next week visit the Vietnamese capital of Hanoi for the 13th annual APEC Finance Ministers' Meeting.

"I am looking forward to hearing the views of Finance Ministers from the 21 APEC member countries," said Dr Cullen.

"APEC remains an important forum for New Zealand as its economies account for 71 per cent of our two way trade and 68 per cent of tourist visits. Indeed, 9 out of our top ten export markets are in the APEC region.

"Therefore, the success of these forums in achieving APEC's goals of free and open trade and investment are important for the transformation of New Zealand into a high wage, knowledge-based economy.

"This year discussions will centre around two themes: "promoting public finance efficiency and sustainability: towards stable and efficient revenue sources" and
"financial sector reform to attract capital flows."

"New Zealand has a good story to tell. We have an enviable reputation for sound fiscal policy underpinned by a relatively simple and fair tax system. Our financial sector is also robust, one factor in helping to attract offshore capital.

"These forums help APEC member economies improve the efficiency and transparency of their financial systems which is important for a trading nation like New Zealand as we depend on the free flow of trade and investment."

Dr Cullen will hold bilateral talks with Vietnamese Finance Minister Vu Van Ninh, Mr Jin Renqing, the Finance Minister for the People's Republic of China, and Canadian Finance Minister James Flaherty. He will also meet Japan's Senior Vice-Minister for Finance, Naokazu Takemoto, Chile's Under-Secretary for Finance, Mrs Maria Olivia Recart, and discuss international education opportunities with Vietnam's Minister of Education and Training, Mr Nguyen Thien Nhan.

The meeting on September 7,8 will be followed by the APEC Leaders' Meeting in Hanoi in mid-November.

Further information is available at:


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