Ministers Hold Talks with Portuguese Minister of the Economy

Minister of Commerce, John Luxton and Minister of Foreign Affairs and Trade, Don McKinnon today held joint discussions with the Portuguese Minister of the Economy, Dr Pina Moura.

Dr Moura's visit to New Zealand comes soon after the Portuguese Foreign Minister's visit to Wellington in February and signals Portugal's interest in stepping up political and economic ties with this part of the world.

Mr McKinnon said that while contact with Portugal has been slight in the past the Portuguese Government and private industry have begun recently to show interest in developing closer ties with the Asia Pacific region.

"Currently two-way trade between New Zealand and Portugal is around $30 million. It is encouraging that the Portuguese are taking a greater interest in New Zealand," the Ministers said.

Dr Moura has also held meetings with Hon Max Bradford and Hon Murray McCully, and been briefed by Treasury on New Zealand's economic reforms.

Dr Moura departs New Zealand tomorrow.