Economic relations with New Zealand to grow further

19 Mar '08

3 min read

Ministers noted that ANZCERTA is a model bilateral free trade agreement, its quality, depth and breadth demonstrating what can be achieved with a truly comprehensive approach to bilateral trade liberalisation. It sets a benchmark for free trade agreements now being pursued in the Asia-Pacific region. Its 25th anniversary is an opportunity for both countries not just to celebrate success but to build on it in practical.

The Single Economic Market (SEM) program – which complements ANZCERTA by seeking greater harmonisation of trans-Tasman economic regulation and addressing behind-the-border impediments to trade – is also a major priority.

The ministers expect cooperation will intensify further as both countries move towards introducing emissions trading schemes and other policies to support sustainable development.

Ministers also discussed the opportunity to bring the development and economic integration benefits to our Pacific island neighbours through a new and comprehensive “PACER Plus”, the next stage of the Pacific Agreement on Closer Economic Relations.

The incredible success of the trans-Tasman ANZCERTA experiment should encourage us to share high ambitions for boosting island countries' trade opportunities and sustainable prosperity.

Progressing 'PACER Plus' arrangements will take time and patience. But a process of deeper regional economic integration as envisaged by Forum Leaders, carefully shaped in regional consultations to take account of the needs of small Pacific countries, will be essential if the region is to flourish.

Minister for Trade, Australia

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