15 August 2008
Australian and New Zealand Minister Commit to Closer Economic Integration and Cooperation
Ministers from Australia and New Zealand met in Melbourne today
for the annual Closer Economic Relations (CER) Ministerial
Meeting and affirmed their commitment to closer economic
integration and cooperation.
The Australian delegation was led by Trade Minister Simon
Crean, who was joined by the Minister for Innovation, Industry,
Science and Research, Senator Kim Carr; Minister for
Agriculture, Fisheries and Forestry, Tony Burke and Minister
for Superannuation and Corporate Law, Senator Nick
Sherry.
The New Zealand delegation was led by Minister for Trade Phil
Goff, and also comprised Agriculture Minister Jim Anderton and
Commerce Minister Lianne Dalziel.
The objective of the CER Ministerial Meeting is to advance the
close and extensive trade and economic relationship between
Australia and New Zealand.
“It is a priority of the Rudd Government to reinvigorate
Australia’s trans-Tasman links given their fundamental
importance,” Mr Crean said.
“This year marks the 25th anniversary of the very
successful CER trade agreement between Australia and New
Zealand, which is internationally recognised as a model for its
quality and comprehensiveness.
“CER has underpinned a major, mutually beneficial
expansion and deepening of trans-Tasman economic links,”
Mr Crean said.
Ministers agreed that continued efforts would be made under the
Single Economic Market (SEM) agenda to build on the very open
trading environment the CER agreement has created between
Australia and New Zealand.
Treasurer Wayne Swan and the New Zealand Finance Minister Dr
Michael Cullen agreed in Wellington in July that work should be
stepped up on a CER Investment Protocol.
At the Ministerial Meeting, Mr Crean strongly welcomed the
renewed engagement to include investment in the CER
agreement.
“Addressing the lack of specific CER provisions
enshrining a liberal regime for trans-Tasman investment flows
will improve what is already recognised internationally as a
model trade agreement,” he said.
Ministers noted ongoing work under the SEM agenda in
significant areas relating to services and investment.
Ministers affirmed their commitment to the ongoing discussions
on retirement savings portability, which is a practical example
of the ongoing work to enhance the CER and remove structural
impediments to trans-Tasman movements. The ability to transfer
savings across the Tasman could potentially support
trans-Tasman labour mobility, as well as streamlining small and
administratively expensive accounts in both
countries.
Ministers also welcomed the commitment to renegotiating the bilateral tax agreement, which ensures taxpayers receive relief from double taxation.
Ministers also agreed Australia and New Zealand should work
even more closely to achieve shared regional and multilateral
trade goals, and took the opportunity to affirm their
commitment to the WTO Doha Round.
“Both Phil Goff and I were heartened by the significant
progress made in Geneva last month. As committed members
of both the WTO and the Cairns Group, we are keen to secure a
successful conclusion to the Round.
“We have agreed to work closely together to help move
the Doha Round negotiations to their final phase."
“The Rudd Government strongly values our excellent
relationship with New Zealand and today’s meeting was yet
another indication of the way in which we are continuing to
deepen our trade and economic integration for the benefit of
both nations.
Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555