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English: English Visits Australia To Discuss Global Economy, CER Progress

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Fuseworks Media
Fuseworks Media
English: English Visits Australia To Discuss Global Economy, CER Progress

28 JANUARY 2009 - Finance Minister Bill English will visit Australia next week to discuss global financial developments and closer economic relations issues with senior politicians, central bank officials and business leaders.

"It's important that I get an Australian perspective on the unfolding international economic situation, particularly the impact of a slowdown in China and Asia," Mr English said.

"Our strong trade, investment and business ties with Australia mean that anything that affects the Australian economy, such as the performance and outlook for Asian economies, has an important bearing on New Zealand.

"So it's essential that we remain in close contact with Australia and share information about the challenging global conditions."

Mr English's visit, between February 3 and 5, will include meetings with Australia's Deputy Prime Minister Julia Gillard, Federal Treasurer Wayne Swan, Reserve Bank of Australia governor Glenn Stevens and business leaders.

"I'm also looking forward to talking to them about our progress toward building a single economic market and their approach to public sector performance, which is also a priority for us."

Meanwhile, Reserve Bank and Treasury officials leave today for New York, London and Hong Kong to update investors on New Zealand's economic and fiscal outlook. They will also provide a briefing on the wholesale funding guarantee scheme, which may be used by eligible New Zealand institutions to raise funds on international markets.

"An update is always useful and, given the New Zealand economy's continued requirement to access foreign funding, we want to ensure investors have a good understanding of the New Zealand environment and the opportunities available here," Mr English said.

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