11 Apr 2013

PM optimistic of currency deal with China

10:31 pm on 11 April 2013

The Prime Minister is optimistic China and New Zealand can reach agreement on currency conversion - a move which would reduce costs for businesses.

Australian Prime Minister Julia Gillard announced a deal for her country while in Beijing, a day before John Key arrived in the Chinese capital on Wednesday.

After meeting the Chinese Premier, Li Keqiang, Mr Key says New Zealand should be able to do a deal also.

Mr Key says direct trading between the currencies would cut costs for exporters and importers, as well as provide more predictability about the exchange rate.