01 December 2013
New Zealand to join 2014 ‘G20’ meetings
Prime Minister John Key has today announced that Australia has invited New Zealand to participate in the 2014 G20 meetings during Australia’s year as Chair.
“Prime Minister Tony Abbott phoned me on Thursday to invite New Zealand to the G20 meetings next year and I warmly welcomed his invitation to take part,” says Mr Key.
“It is a testament to the Australia-New Zealand relationship, and a strong indicator of how the new Tony Abbott Government in Australia views New Zealand.”
“New Zealand is not a formal member of the G20 because of our size, but has always been supportive of it. It is very significant that New Zealand has access to the G20 meetings at the invitation of Australia,” says Mr Key.
“While the global economy is improving, growth remains a concern - and unemployment is too high in a number of economies. It is important the G20 countries continue to promote policies directed at securing global growth and stability.”
This is the first time New Zealand has been invited to contribute to a full year’s deliberations. The G20 revolves around a number of meetings of Finance Ministers and Central Bank Governors, and culminating in a Leaders meeting towards the end of the year.
“As a small trading nation, New Zealand has a significant stake in the global economy and we will provide valuable input. We will bring some ‘small economy’ perspectives to these discussions which may be somewhat different from the issues facing major economies,” says Mr Key.
The host of the annual G20 meeting has an ability to invite some additional countries it thinks will add value during its year as Chair.
The G20 is a grouping of the world’s largest economies accounting for around 90 per cent of global GDP and 80% of international trade. It is a key vehicle for tackling the world’s economic challenges. It is responsible for continuing to help guide the global economy as it emerges from the financial crisis.
“New Zealand will support Australia in its efforts to make its year as Chair a success and we are looking forward to working with Australia and other G20 members,” says Mr Key.
Note: The G20 grouping includes Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, India, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, European Union.Tweet