Speech: Connecting with Asia

Press Release – New Zealand Treasury Speech delivered in Auckland by the Secretary to the Treasury, Gabriel Makhlouf, 9 March 2016.Connecting with Asia: How do we Deepen our Integration into the Region? Published 9 Mar 2016 Speech delivered in Auckland by the Secretary to the Treasury, Gabriel Makhlouf, 9 March 2016. — Good afternoon. It’s a pleasure to be here. The global economy is changing rapidly, and the Asia-Pacific region lies at the heart of that change. The countries that participate in the APEC forum, which includes most of Asia and the Pacific Rim, contain 2.8 billion people, account for nearly 60% of world output and 50% of world trade[1]. If we include India, we are talking about a region that contains just over half of the world’s population. And the majority of countries in the region have GDP per capita that is lower than New Zealand’s, suggesting significant potential for further growth. We in New Zealand have strong connections on both sides of the Asia-Pacific region, which puts us closer to the driving force of global economic activity than ever before. I want to come back to the importance of the Eastern Pacific at a later date. Today, I want to speak about Asia. You may be wondering why the Treasury has a particular interest in Asia. We know that several decades of rapid economic growth in Asia...

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