Business forum promotes regional integration

Business forum promotes regional integration

Business leaders from both sides of the Tasman will push for closer relations at a meeting with Australian Treasurer Joe Hockey in Wellington today.

The Australia New Zealand Leadership Forum wants to see more trans-Tasman trade and investment, and more joint work between Australia and New Zealand to advance engagement with Asia.

Implementing joint Productivity Commission recommendations, liberalising capital flows and boosting Asian tourism are on the agenda of today’s Forum roundtable meeting.

Roundtable chair Phil O’Reilly says New Zealand and Australia have a shared interest in optimising Asian investment and deepening relations with Asian nations.

“There are differing regulations and practices on both sides of the Tasman that if harmonised could improve trade through the wider region. Addressing bilateral visa issues, implementing smart gate technology for travel, creating common visas for joint major events, and addressing the lack of mutual recognition of imputation credits – improvements in such areas could help speed up growth in business and trade.”

He said having the Australian Treasurer and his counterpart New Zealand Finance Minister Bill English on board with evolving business policy was positive, and was an indicator of the ongoing integration of business in the region.

The visit by the Australian Treasurer follows the attendance in Sydney last week of senior business leaders at the Leadership Group of the Business 20, a forum of business leaders from across the G20.

Contact Phil O’Reilly 04 4966552 or Kathryn Asare 021 555 744

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23 Jul, 2014

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