New Zealand and Australia discuss fuel supply security

Wellington (ANTARA) - New Zealand and Australia are forging close cooperation to address the economic impacts of global shocks and alleviate pressures on household budgets, as stated by New Zealand Finance Minister Nicola Willis on Friday (24/4). Willis attended the annual Australia-New Zealand dialogue with Australian Finance Minister Jim Chalmers in Brisbane, Australia. According to a New Zealand Government statement, they focused on managing fuel price pressures caused by conflicts in the Middle East, strengthening supply chains, and coordinating responses to geopolitical and economic shocks affecting both economies. Willis and Chalmers also discussed the impact of rising fuel and freight costs on Pacific island nations and agreed to continue assistance with international partners, including the World Bank and the Asian Development Bank. The meeting highlighted efforts to deepen Australia-New Zealand economic integration under the Single Economic Market agenda. “Stronger integration means greater resilience in the face of global shocks,” Willis said, as quoted in the statement.