Finance Minister Paula Cox feels that Bermuda is "well positioned" on the eve of a meeting of leaders of the world's major economic powers which could result in measures being taken against offshore financial centres.

Her comments come after it was confirmed that Bermuda would be signing a tax information exchange agreement (TIEA) with New Zealand on April 16.

"Bermuda is fully compliant with the standard the OECD is trying to establish, therefore we feel well-positioned leading into the G20 meetings", said Minister Cox.

"Bermuda finds itself well-positioned today because it has always embraced the OECD initiative in good faith ever since the former PLP Minister of Finance, the late Eugene Cox, had the vision and gave Bermuda's commitment to the OECD in the year 2000 during meetings that he attended in Paris.

"The fact that Bermuda is poised to bring our total of signed TIEAs up to 12 in the near future is just reward for such vision and consistency."

Yesterday, Luxembourg Prime Minister Jean-Claude Juncker suggested that US President Barack Obama should clamp down on "tax haven" states in the US, before pointing the finger at others. His comments come after G20 leaders have threatened sanctions against low-tax jurisdictions that do not cooperate fully with tax authorities of larger countries.

Minister Cox declined to join in with Luxembourg's criticism. "Some allege that the G20 leaders may be throwing stones from glass houses and stones are now being thrown back by those who feel that they are the target.

"Bermuda has undertaken constructive engagement from the beginning of our commitment to the OECD in the year 2000 and therefore Bermuda does not need to join the stone-throwing crowd.

"As I have said previously, Bermuda was named by the OECD back in November 2008 as one of only seven countries that were fully compliant with the OECD."

"I welcome the signing of this important agreement with Bermuda, which was one of the first international finance centres to engage in partnership with OECD countries in the worldwide effort to achieve greater transparency and cooperation in tax matters.

New Zealand's Minister of Revenue Peter Dunne commented late on Monday about the TIEA agreed with Bermuda.

"Bermuda agreed to work with New Zealand towards the conclusion of a TIEA long before the recent developments," Mr. Dunne said.

"I congratulate Bermuda on its progressive stance, and look forward to strengthening the spirit of goodwill that has developed between our two countries."

As a member of the OECD and a participant at the G20 conference, the New Zealand Government's comment "add to our credibility when Bermuda speaks in the international arena", Ms Cox added.