Finance Minister Nicola Willis has met with Australian Treasurer Jim Chalmers in Brisbane to discuss fuel security, rising costs and economic cooperation, as both countries respond to global supply disruptions.
The talks were held as part of the annual Australia–New Zealand Treasurer and Finance Minister dialogue, with fuel supply pressures linked to conflict in the Middle East a key focus.
Willis says both governments are working closely to manage the impact of global events on households and businesses.
“New Zealand and Australia are working closely together to manage the impacts of global events on our economies and on household budgets,” she says.
The ministers agreed officials would continue regular engagement on fuel market conditions, supply chain developments and price pressures, alongside coordination to strengthen financial system resilience.
“Families and businesses expect governments to be practical and focused during periods of disruption. That means measured responses that are timely, temporary and targeted, rather than policies that add to inflation or create long-term fiscal costs,” Willis says.
The meeting also covered the impact of higher fuel and freight costs on Pacific nations, with both countries agreeing to continue targeted support through international partners including the World Bank and Asian Development Bank.
Alongside fuel security, discussions focused on economic growth and improving trans-Tasman integration. Willis and Chalmers welcomed progress under the Single Economic Market agenda and agreed to advance further measures aimed at making it easier to do business across the region.
“New Zealand and Australia have one of the closest economic relationships in the world. Stronger integration means greater resilience during global shocks, more trade, more investment, and more opportunities for businesses and workers in both countries,” Willis says.
Willis also attended a business discussion hosted by the Australia New Zealand Leadership Forum and is set to join Chalmers at Anzac Day commemorations in Logan City.
