Hon Steven Joyce

Associate Minister of Finance

Minister for Economic Development

10 October 2016 Media Statement

Joyce to South America for Finance Ministers APEC

Associate Finance Minister Steven Joyce will attend this week’s Asia-Pacific Economic Cooperation (APEC) annual meeting of Finance Ministers, in Lima, Peru.

This is the 23rd APEC Finance Ministers Meeting and there are several policy initiatives that will be discussed, including the APEC Financial Institutions, dealing with SMEs initiative and the Financial Infrastructure Development Network.

APEC, a forum of 21 economies from the Asia-Pacific region, aims to promote free trade and economic cooperation in the region. The APEC economies comprise around 53 per cent of global GDP and 44 per cent of world trade.

“The closer together we work, the stronger we can grow economic development in the region,” Mr Joyce says. "New Zealand can only prosper economically and as a 21st century nation if we nurture global partnerships and the international exchange of ideas. APEC provides a crucial forum in which economies can discuss issues, align perspectives and build common approaches.

“Financial inclusion, developing capacity for cross-border recognition of equivalent regulatory regimes and economic co-operation and integration are key pillars to developing prosperity in the Asia-Pacific region.”

Prior to attending the APEC meeting in Peru, Mr Joyce will visit Santiago, Chile and Bogota, Colombia. Education New Zealand has had a presence in Bogota since October 2015 and New Zealand Trade and Enterprise opened a new office there in July this year.

“New Zealand’s growing reputation in South America for innovation and ingenuity is a direct response to the products and services delivered by our companies in the region as well as research collaborations and scholarships, particularly relating to agriculture, and science and innovation. There is an increasing awareness among South American students of New Zealand as a study destination with a world-class education system,” Mr Joyce says.

“South American countries represent an incredible opportunity for our companies to grow. As a small nation, our level of success in the region will be determined by our level of connectedness and commitment to deliver what the 423 million people in the region demand.”

Mr Joyce will visit Chile, Colombia and Peru from 10-16 October 2016. The annual APEC meeting of Finance Ministers will be held 13-15 October 2016 in Lima. He returns to New Zealand on 17 October.

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