Hon Dr Michael Cullen
Minister of Finance

17 February 2006 Media Statement

Cullen: Costello meeting to progress single economic market issues

Finance Minister Michael Cullen travels to Melbourne on Monday, February 20 for the annual meeting with his Australian counterpart, Treasurer Peter Costello.

"The bilateral is an important opportunity to discuss regional economic issues and to accelerate initiatives towards a single economic market," said Dr Cullen.

"Work on the single economic market objective has been a key feature of recent bilaterals and I am hopeful of good progress on measures to better integrate the two economies."

Commerce Minister Lianne Dalziel will also participate in the bilateral discussions in order to progress the co-ordination of business law relating to the commerce portfolio.

Other items to be discussed include:

- measures required to enable co-operation between banking regulators;

- progress on aligning accounting standards;

- implementation of recommendations from the review of the Trans-Tasman Mutual Recognition arrangement.

The formal round of talks begins on Wednesday February 22 and will be followed by a media conference in the afternoon.

On Tuesday Dr Cullen will visit the Australian Competition and Consumer Commission with Minister Dalziel and later call on the Victorian Minister for Education and Training Lynne Kosky.

Dr Cullen will also visit the Australian Synchrotron project in which New Zealand has a significant interest and deliver a speech to a business lunch hosted by Westpac.

ENDS

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