Following his meeting with Fiji's Minister of Foreign Affairs, Defence and National Security Inia Seruiratu, the pair issued a communique which covered areas such as defence, trade, investment and disaster management.
"The ministers agreed it was time to take the Fiji-New Zealand relationship to a new level based on common interests, shared prosperity and security that binds us together," the communique said.
New Zealand would put two additional staff in its High Commission in Suva and allocate more resources to strengthen the relationship.
"Fiji acknowledges New Zealand's 'Pacific Reset' and the shift in its engagement with the Pacific to a relationship built on values and equal partnerships," the communique said.
They agreed to continue collaborating on defence, particularly peacekeeping and border security.
"This includes a package of support from New Zealand to the Republic of Fiji Military Forces [RFMF] including in peacekeeping and leadership development. The ministers committed to intensifying cooperation in the area of policing and border control to ensure security for both countries to combat transnational organised crime."
Peters is leading a delegation of MPs to Fiji, Tuvalu and Kiribati this week.