New Zealand welcomes currency trade agreement with China

 New Zealand finance officials on Wednesday welcomed an agreement allowing direct trading of the New Zealand and Chinese currencies, saying they would build on the growing bilateral trade and investment ties. Finance Minister Bill English said the agreement announced by New Zealand Prime Minister John Key and Chinese Premier Li Keqiang in Beijing was a significant and welcome step forward in the economic relationship with China. “It will make doing business with China easier by reducing the costs of converting between the two currencies, and it will further stimulate our already strong trade and investment links,” English said in a statement.“Just as the free trade agreement between New Zealand and China has supported a significant increase in two-way trade between our countries, I expect this currency agreement to further deepen our economic relationship.”