Trade and Competitiveness Minister Craig Emerson and his New Zealand counterpart Tim Groser will hold talks today for this year's Closer Economic Relations (CER) Ministerial Meeting.
Discussions will cover the Single Economic Market between the two countries, as well as broader issues such as the Doha Round of global trade talks and Trans-Pacific Partnership negotiations.
Ministers will also exchange views on their countries' latest efforts to broaden their business engagement in the Asian Century.
The CER Ministerial Meeting is held each year to review the trade relationship between Australia and New Zealand and look at how to extend and deepen it.
The CER has been central to promoting trans-Tasman economic integration, bringing down barriers to trade, reducing costs to business and encouraging investment and economic growth.
"The CER is one of the most comprehensive bilateral free trade agreements in the world," Dr Emerson said.
"The Ministerial Meeting provides the ideal setting for fortifying Australia-New Zealand links in the Asian Century and discussing regional and multilateral issues of mutual interest."
Today's meeting comes just ahead of the CER's 30th anniversary in 2013. To mark the occasion, the Australian and New Zealand Productivity Commissions are preparing a joint report to identify possible reforms to boost productivity, increase competitiveness and drive deeper economic integration.
Established in 1983, the Australia-New Zealand Closer Economic Relations Trade Agreement covers nearly all trans-Tasman trade in goods. Two-way trade in goods between Australia and New Zealand has expanded at an average rate of 8 per cent each year since the agreement entered into force.
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