Source: New Zealand Government
Trade and Investment Minister Todd McClay will meet Australian Trade Minister Senator Don Farrell in Adelaide today for the Annual Closer Economic Relations (CER) Trade Ministers’ Meeting, to accelerate plans for a more ambitious Single Economic Market (SEM) — deepening integration between the two economies to boost trade, investment, and business growth across the Tasman.
“Australia is one of New Zealand’s most important economic partners, with two-way trade worth $29 billion underpinned by the CER Trade Agreement,” Mr McClay says.
“In an increasingly uncertain global trading environment, this is a chance to elevate our gold-standard partnership and give both countries a stronger competitive edge.”
This year’s meeting follows the successful hosting of the CER Trade Ministers’ Meeting in Rotorua in 2024, where Ministers agreed to strengthen the Trans-Tasman Mutual Recognition Arrangement, enhance regulatory coherence, and address non-tariff barriers such as restrictions on structural timber exports. They also committed to closer coordination on international trade initiatives, including the WTO and CPTPP.
The Adelaide meeting will build on discussions between Prime Ministers Luxon and Albanese earlier this year, focusing on coordinated action to grow regional trade and investment and make it easier for businesses to operate on both sides of the Tasman. Ministers will also advance the priorities identified by New Zealand and Australian businesses at the Australia New Zealand Leadership Forum (ANZLF) last month, ensuring government action aligns with business needs.
The Ministers will explore opportunities to expand elements of the relationship into ASEAN, deepen regulatory cooperation, and coordinate positions on wider regional and global trade issues ahead of Australia’s hosting of the CPTPP Trade Ministers’ Meeting in November.
