Minister for Trade and Investment Todd McClay. File photo. Photo: RNZ / REECE BAKER
New Zealand and Australia trade ministers have agreed to double down on their countries' open trade relationship.
Minister for Trade and Investment Todd McClay met with Australian counterpart Don Farrell in Monarto this weekend to discuss changes in the world economy.
New Zealand and Australia agreed to a Single Economic Market in 2009 to increase the flow of open trade between both countries. This included co-operation between customs agencies and a co-ordinated approach to regulation.
A spokesperson for McClay said the ministers had agreed to a new heads of agreement between Standards Australia and Standards New Zealand to align both countries' standards.
The ministers also agreed to team up to pursue reforms of the World Trade Organisation at its next ministerial conference.
"This is about making it simpler for businesses to trade, invest and grow, not just between our two countries, but across the wider region," McClay said.
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