In ths file photo dated April 20, 2015, The Australian (right) and New Zealand flags fly during the dedication of the Australia ANZAC memorial at Pukeahu National War Memorial Park in Wellington, New Zealand. (PHOTO / AFP)

WELLINGTON - New Zealand and Australia's foreign ministers and defense ministers met on Wednesday to discuss key global issues, the first time the two country's foreign and defense ministers have met in the "2+2" format.

New Zealand foreign and defense ministers have regular engagement with their Australian counterparts, but this will be the first meeting of this type, the New Zealand government said in a statement.

New Zealand Deputy Prime Minister and Foreign Minister Winston Peters and Defense Minister Judith Collins traveled to Melbourne on Wednesday for the inaugural meeting.

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New Zealand Defense Minister Judith Collins said the meeting is an opportunity to align and strengthen New Zealand's responses to international developments, particularly those in the Pacific region

"The meeting is an important opportunity to discuss our shared commitment to our alliance and identify avenues through which to deepen our cooperation," Peters said.

Collins said the meeting is an opportunity to align and strengthen New Zealand's responses to international developments, particularly those in the Pacific region.

The ministers plan to discuss key global issues, including the Russia-Ukraine and Israel-Hamas conflicts, and the Houthi attacks on the Red Sea.

It is the first face-to-face meeting between Peters and his Australian counterpart Penny Wong, and the second engagement between Collins and her counterpart Richard Marles, who is also the Australian deputy prime minister.

Peters and Collins will also hold separate bilateral discussions with their Australian counterparts before the delegation returns to New Zealand on Feb 1.

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Also on Wednesday, New Zealand signed a space cooperation agreement with Australia, under which up to 6 million NZ dollars ($3.67 million) will be available to Kiwi researchers.

The funding will be available from the government's Catalyst Fund to support New Zealand space scientists to participate in collaborative research projects through Australia's SmartSat Cooperative Research Center.

The projects will focus on Earth observation, space situational awareness and optical communications.

"This collaboration agreement between the New Zealand Space Agency and Australia's leading space research organization will advance space science, technology and cooperation and provide real-world benefits to New Zealanders," said Collins, who is also New Zealand's space minister.

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New Zealand has an innovative space sector, Collins said, adding this partnership helps solve trans-Tasman challenges.