New Zealand and Iceland are deepening cooperation, in the areas of working holidays, taxation and geothermal energy, Foreign Minister Winston Peters has announced.
The Minister, who is visiting Iceland today, said that while New Zealand and Iceland may be oceans apart, they are two island nations united by shared values.
“These initiatives constitute an important step towards enhancing New Zealand’s cooperation with Iceland,” said Mr Peters.
Following a meeting with Iceland’s President Halla Tómasdóttir (pictured), Mr Peters announced New Zealand and Iceland will start negotiations on a reciprocal Working Holiday Scheme.
“A working holiday scheme with Iceland will create new opportunities for our young people to connect, collaborate, and contribute to each other’s societies, and gain valuable international experience while enriching our communities and economies,” he said.
“Through the Working Holiday Scheme, young New Zealanders will be able to experience and learn from this remarkable country with its dynamic, world-leading, added-value economy.”
While in Reykjavik, Mr Peters also signed a Double Tax Agreement with Iceland’s Finance Minister, Daði Már Kristófersson.
“This Double Tax Agreement will strengthen economic cooperation between our two countries by providing clarity and fairness for businesspeople who operate across New Zealand and Iceland,” he said.
Mr Peters also visited Iceland’s Nesjavellir Geothermal Power Station, with Energy Minister Jóhann Páll Jóhannsson.
“The New Zealand Government is investing in exploring the potential of supercritical geothermal energy in the Taupō Volcanic Zone.”
“Geothermal could help secure New Zealand’s future energy needs, which is why it’s critical that we learn from world leaders in this area like Iceland,” said Minister Peters.
He is visiting Iceland as part of a wider visit to the Nordic region and will also travel to Norway, Denmark, Sweden and Finland.
