Under the five-year deal, members of the women’s White Ferns and men’s Black Caps squads will receive the same match fees across one-day international and Twenty20 formats, plus domestic competitions.

As part of the deal, cricketers are due to receive $10,250 (£8,500/€9,980) for appearances in Test matches, $4,000 (£3,340/€3,900) for appearances in one-day internationals and $2,500 (£2,000/€2,430) for appearances in Twenty20 internationals.

The improved pay and conditions are part of an agreement calculated based on the country’s men’s and women’s professional players receiving 29.75 per cent of all New Zealand Cricket forecast revenue over five years, which is set to amount to $104 million (£87 million/€101 million).

Speaking about the arrangement White Ferns captain Sophie Devine said: "It’s great for the international and domestic women players to be recognised in the same agreement, alongside the men.

"It’s a massive step forward and will be a huge drawcard for young women and girls."

Black Caps captain Kane Williamson added: "It’s really important for the current players to build on the legacy of those who have gone before us, and to support tomorrow’s players, both men and women, at all levels.

"This agreement goes a long way towards achieving that."

New Zealand's men's team are the current holders of the World Test Championship, which they won after beating India last year, while New Zealand's women's only international trophy came at the 2000 Women's World Cup.