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Simon Power

24 September, 2010

Ministers discuss trans-Tasman relationship

New Zealand's Minister of Commerce, Simon Power, the Australian Minister for Finance and Deregulation, Senator Penny Wong, and the Australian Parliamentary Secretary to the Treasurer, the Hon David Bradbury, held talks in Canberra yesterday on the economic relationship between the two countries.


It was the first official meeting of New Zealand and Australian Ministers in these portfolios since the new Australian Government was formed earlier this month.


The Ministers reaffirmed the commitment of both governments to deepen the economic relationship between the two countries.


They discussed the substantial progress that has been achieved across the single economic market under the new outcomes agreement framework.


The framework, which is now reflected in the newly revised Memorandum of Understanding on the Coordination of Business Law, supports an aspirational single economic market agenda, and drives pragmatic initiatives with clear timelines for delivery of the work programme.


The Ministers affirmed the priority they will give to this work and to a key guiding principle that encourages moving beyond considerations of national interests to consideration of net trans-Tasman benefits.


Mr Power also had talks with the Australian Attorney-General, the Hon Robert McClelland.

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