by pna
New Zealand and the Philippines Tuesday signed three cooperation agreements at the Parliament Building in Wellington after talks between Prime Minister John Key and Philippines President Benigno Aquino III.
Aquino arrived in Auckland Monday for his first two-day state visit to New Zealand after he became president in 2010.
Key told a joint press conference following their meeting the defense arrangement formalized the status quo but was still an important step in the relationship.
"We look forward to working even more closely in the future," he said.
Aquino said the two countries had much in common.
"We are on the same side on so many different issues."
The working holiday agreement is the first the Philippines has signed with any country and provides for 100 12-month visas in each direction for citizens aged between 18 and 30.
Aquino said the aim was to enhance cultural understanding and bring New Zealand and the Philippines closer through people-to- people contact.
The geothermal energy development commitment provides for a formal government-to-government framework supporting commercial ventures.
Aquino also met with New Zealand Governor-General Jerry Mateparae, and the opposition Labor Party leader David Shearer in Wellington on Tuesday.
The Philippines is New Zealand's 13th largest export market and third largest market for dairy products after China and the United States.
Aquino is accompanied by a 70-member delegation including Foreign Affairs Secretary Albert del Rosario, Trade and Industry Secretary Gregory Domingo, Defense Secretary Voltaire Gazmin, and other Cabinet Secretaries.
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