New Zealand and Australia trade ministers have agreed to double down on their countries’ open trade relationship.<\/p>\n
Minister for Trade and Investment Todd McClay met with Australian counterpart Don Farrell in Monarto this weekend to discuss changes in the world economy.<\/p>\n
New Zealand and Australia agreed to a Single Economic Market in 2009 to increase the flow of open trade between both countries. This included co-operation between customs agencies and a co-ordinated approach to regulation.<\/p>\n
A spokesperson for McClay said the ministers had agreed to a new heads of agreement between Standards Australia and Standards New Zealand to align both countries’ standards.<\/p>\n
The ministers also agreed to team up to pursue reforms of the World Trade Organisation at its next ministerial conference.<\/p>\n
“This is about making it simpler for businesses to trade, invest and grow, not just between our two countries, but across the wider region,” McClay said.<\/p>\n