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New Zealand and Iceland are deepening co-operation in the areas of working holidays, taxation and geothermal energy, Foreign Minister Winston Peters has announced. “New Zealand and Iceland may be oceans apart, but we are two island nations united by shared values,” Peters said on October 23, during his visit to Iceland. “These initiatives constitute an important step towards enhancing New Zealand’s cooperation with Iceland.” Following his meeting with Iceland’s President Halla Tómasdóttir, Peters announced the two countries would 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,” Peters says. Immigration Minister Erica Stanford adds: “Working Holiday Schemes enable young people to travel, study, and work in each other’s countries. “Beyond individual benefits, a scheme with Iceland will also encourage reciprocal tourism and seasonal work in regional areas.” Peters says through the Working Holiday Scheme, young Kiwis will be able to experience and learn from Iceland with its dynamic, world-leading, added-value economy. While in Reykjavik, he 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,” Peters says. He 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,” Peters says. “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.” Peters is visiting Iceland as part of a wider visit to the Nordic region and he’s also travelling to Norway, Denmark, Sweden and Finland.
