New Zealand, China in Talks on Convertibility of Currencies
May 27th, 2013Via: Wall Street Journal:
Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible, a spokeswoman for Prime Minister John Key said.
Wellington’s push is aimed at driving down costs for companies that do business with China, which is close to overtaking Australia as New Zealand’s No. 1 trading partner.
Talks are in the “very early stages” and “progressing,” the spokeswoman said, adding that the issue had been brought up during Mr. Key’s visit to China last month.
Officials at the People’s Bank of China didn’t return calls seeking comment.
