Today the Oceania cross-country event starts and will see Peters looking to win his first Oceania title.
Although the 21-year-old is New Zealand's national mountainbiking cross-country champ, Peters will not race in the elite division. Instead, he will be forced to race in the under-23 division.
"I think it's unique to New Zealand. We're one of the only countries that has for our national champs, it combined but then for Oceanias, World Champs, World Cups and that sort of thing - the under-23 race is separate."
Despite the fact he will race in the under-23, Peters told The Daily Post it wasn't going to make his chances of winning the title any easier.
"This is the final race sort of for the New Zealand and probably the Australian season as well so it's probably the one everyone is trying to be at their best for."
Peters said he was looking forward to racing.
"Yeah I'm very excited about the weekend. It has been a big, long build-up so it's good that it is finally here."
Olympic Games selection spots will be on the line at the UCI Oceania Mountain Bike Championships.
Organising committee chairman Dave Donaldson said this was the public's best chance of seeing elite mountain bike riders in action before the Olympic Games in London in August.
"This is a huge event on the international mountain biking calendar because it's an early season opportunity to pick up vital UCI points," he said.
"These points affect a rider's ranking for future events and there's added hype this year because Olympic qualifying is up for grabs."
The cross-country event is the only Olympic Games mountain bike discipline and is at the Redwood Memorial Grove on Long Mile Road.
Two female Kiwi riders vying for Olympic selection are, Whakatane's Karen Hanlen and Christchurch's Rosara Joseph. If they beat their Australian counterparts, they might both be London-bound, Donaldson said.
Tomorrow competition starts for the Cross-Country Eliminator which starts at lunch time. The course will be keep secret until just before the race.
Riders will be timed and seeded before being released in motos of four - first two across the line go through to the next round.
Rotorua has hosted the Oceania championships twice before, in 2004 and 2006.
The event alternates across the Tasman each year but Rotorua is hoping to be the sole New Zealand host in future because of the superb trails and facilities.