English to visit Australia this week

Finance Minister Bill English will visit Australia this week, where he will take the opportunity to hear first-hand from business and industry leaders their thoughts about the relative strengths and weaknesses of the Australian economy.

“Australia is one of our major international partners and traditionally, we do well when they do well. So while the proximity of exchange rate parity is an indicator of strength in the New Zealand economy, it also reflects some uncertainty about  Australia which could impact on us. Almost 20 per cent  of New Zealand exports are to Australia, and over 50 per cent of our Overseas Direct Investment goes across the Tasman.

“It will be useful for me to talk to companies who are big investors and employers in Australia. The trip  also provides a chance to strengthen  our  links with the Australian business and investment community. We have many common challenges and opportunities and it’s good to know what each other is thinking,” Mr English says.

Visiting Perth tomorrow, Mr English will speak with mining sector leaders and Government representatives. He  will then spend a day each in  Brisbane and Sydney  meeting with business and infrastructure sector leaders, including the Trans-Tasman Business Council before returning on Friday.

Mr English will return briefly to Sydney on 20 April to speak at the Business Council of Australia Annual Forum.