"This is a pretty unreal," Bilous said. "I'm extremely proud to be one of our flagbearers and I'll be waving that thing with a massive grin on my face.
"If you look back over New Zealand's Olympic flagbearers, it's an amazing list of people and I'm super honoured to be adding my name to that list."
The 22-year-old, competing in two events in Beijing, will today be presented with a Kākahu in a cloaking ceremony in front of his teammates at the Beijing Olympic Village.
Robinson was presented with hers by Toomey in Yanqing, the venue for the three alpine ski racing events she will be competing in.
The 20-year-old became New Zealand's youngest Winter Olympian in history at the last edition of the Games in PyeongChang four years ago.
The following year she stunned the sport by winning her first world cup as a 17-year-old, becoming the youngest woman from any nation to triumph at Austria and recording New Zealand's first alpine world cup victory since 1997.
Robinson has since won two additional world cup giant slalom races in Slovenia and Switzerland, now hoping to reach the podium in China and cap what has already turned into a memorable Games.
"This is an extremely special moment for me, my team and my family, and it means so much to be given the opportunity to carry the flag," Robinson said.
"I'm really looking forward to representing our beautiful country in the opening ceremony and I can't wait to put the fern on and get into competition."
Robinson and Bilous will march tomorrow alongside New Zealand's biathlon, freeski slopestyle and big air athletes, and Toomey said the pair were exceedingly worthy of the honour.
"Alice and Finn embody the spirit and mana of our Winter Olympic team," he said. "They are great athletes who are trailblazers for their sports in New Zealand and role models for aspiring Kiwi athletes."
The 15 Kiwi athletes in Beijing will be competing across five sports, beginning with Zoi Sadowski-Synnott and Cool Wakushima in the women's snowboard slopestyle on Saturday.
Sadowski-Synnott is considered a medal contender in both of her events, having joined fellow teenager Nico Porteous in winning bronze four years ago.
With that pair and Robinson again leading the way, Toomey is hopeful the New Zealand team can eclipse the unprecedented two-medal haul from PyeongChang.
"I would love for the team to be able to come back with New Zealand's first Winter Olympics gold medal," Toomey said.
"You look over this Olympic cycle and you look at the likes of Alice Robinson, Zoe Sadowski-Synnott, Nico Porteous…they have been winning world championships and world cups, and many of them are going in as the hunted rather than the hunter for the first time.
"I would like to think we will beat the medal count from PyeongChang."
There has already been a slice of good news for the New Zealand team with confirmation that the one Kiwi athlete to have recorded a positive Covid-19 test result after arriving in Beijing is no longer deemed a positive case.
The Games bubble has recorded more than 120 positive results among athletes and officials in the past four days. But according to Toomey, the Kiwi athlete in question has since cleared additional testing.
He said: "You have a number of athletes and support staff who have been overseas who have contracted Covid over the last six months and they still shed bits of the virus, and sometimes you can trip a result which looks like a positive but on retesting they come back as being negative.
"It's like a Games like no other in terms of anything I've experienced. But the athletes are used to it, they've been traveling around the world over the last couple of years and have had to go through testing.
"They've had to satisfy the fact that they were negative before they competed, so for them it's not new and they are probably quite relaxed about it."
