New Zealand and Australia have accelerated work towards a more ambitious Single Economic Market (SEM), as Trade and Investment Minister Todd McClay and Australian Trade and Tourism Minister Don Farrell concluded the annual Closer Economic Relations (CER) Trade Ministers\u2019 Meeting in Auckland today.<\/p>\n
Ministers welcomed the implementation of SEM Strengthening Initiatives including:<\/p>\n
Deepening economic integration by launching a new programme of Trans-Tasman business-government collaboration to implement the Australia New Zealand Leadership Forum\u2019s proposals to reduce the cost of doing business between New Zealand and Australia, focussing on regulatory coherence and common standards, supply chains, climate adaptation, defence industry collaboration, space, innovation and technology.
\nAdvancing regulatory and standards alignment through a 30 percent increase in Joint Trans-Tasman Standards, enabled by a new Standards Development and Distribution Agreement and Statement of Operating Procedures signed by Standards New Zealand and Standards Australia.
\nCoordinating regional and global trade engagement including CPTPP, RCEP, PACER Plus, AANZFTA.<\/p>\n
\u201cWe have taken on board feedback from the trans-Tasman business community and look forward to working with the Australia New Zealand Leadership Forum to implement their proposals,\u201d says Mr McClay.<\/p>\n
Also announced was a Trade Mission to Brisbane to ensure that New Zealand businesses take advantage of the procurement opportunities presented by the Brisbane 2032 Olympic and Paralympic Games with an estimated A$15 billion programme of investment and expenditure.<\/p>\n
A joint statement was released following the Trade Ministers\u2019 Meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Zealand and Australia have accelerated work towards 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