Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Currency agreement will help trade, investment

Currency agreement will help trade, investment


An agreement allowing direct trading of the New Zealand dollar against China’s renminbi will help to build on the growing trade and investment ties between the two countries, Finance Minister Bill English says.

“The agreement announced by the Prime Minister in Beijing last night is a significant and welcome step forward in our economic relationship with China,” Mr English says.

“As the Prime Minister says, it will make doing business with China easier by reducing the costs of converting between the two currencies, and it will further stimulate our already strong trade and investment links.

“Just as the free trade agreement between New Zealand and China has supported a significant increase in two-way trade between our countries, I expect this currency agreement to further deepen our economic relationship,” Mr English says.

Last year alone, trade in goods between New Zealand and China increased by more than 25 per cent to $18.2 billion – making China New Zealand’s top destination for goods exports.

The New Zealand dollar is only the sixth currency to be traded directly with the renminbi, following the US dollar, the Japanese yen, the Australian dollar, the Russian rouble and the Malaysian ringgit.

“This is a welcome conclusion to negotiations the Prime Minister started only last year, which will benefit businesses and investors in both countries,” Mr English says.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Labour’s
Very Bad Year

While Labour leader David Cunliffe still appears to be in denial about the extent of Saturday night’s debacle, there was hardly a single redeeming feature about the election results for the centre-left. Even the victory by Labour’s Stuart Nash in Napier was the outcome of a strong showing by Conservative Party candidate Garth McVicar that split the centre-right vote... More>>

Election: National Win

With all votes counted National and John Key have won a third term and are close to being able to govern alone if they so choose.

Key has indicated he will still reach out to form a Government with ACT, United Future and Maori Party.

National ended the night on 48 percent, Labour 24.6 and the Greens 10. More>>

Overall Results | Live Results | Predictions |

ALSO:

.

 
 


Perfectly-Timed Anniversaries: Suffrage Day Is Last Chance To Enrol

“The last chance to enrol is Friday 19 September. You can’t enrol on election day.” More>>

ALSO:

Gordon Campbell: On First Time Voting (Greens)

For the last two days, I’ve turned my column over to a couple of guest columnists who are first time voters… Today’s guest columnist is Ana Avia-O’Connor, who will be casting her first time vote on Saturday for the Greens. More>>

ALSO:

Meddling: Aussie Liberals Embroiled In Key Campaign

John Key needs to explain why Australia’s Liberal Party is interfering in New Zealand domestic politics and is encouraging Kiwi voters across the ditch to vote for National just days out from the election, Labour’s campaign spokesperson Annette King says. More>>

ALSO:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Big March: Call For An End To Domestic Violence

Hundreds of protesters marched down Lambton Quay to Parliament Monday calling for an end to domestic violence. Wearing white facemasks, waving banners and calling for “safety” for the women and children of New Zealand.. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news