KEY POINTS:
The end of John Howard's rule will not substantially alter conditions for New Zealand companies operating in the Australian market, say business leaders.
Australian-based Michael Hill chief executive Mike Parsell said the "gut feeling" was that in the short term not much would change.
"The longer impact will come in terms of adjustments to things like WorkChoices [industrial law] and labour rates."
He said Labor PM-elect Kevin Rudd had done a lot to assure businesses any changes wouldn't be radical or kneejerk in nature.
From a retailing point of view Parsell was pleased to see the conclusion of the election, given its negative impact on consumer confidence and spending, as the company gears up for the Christmas period.
Telecom spokesperson Mark Watts said although it was too early to judge the impact, the macro-level factors that have an impact on business seemed relatively settled and broad policy settings appeared unchanged.
Telecom could potentially benefit from the new Government's plan to spend A$4.7 billion ($5.46 billion) subsidising a high-speed fibre broadband network.
The company's Australian subsidiaries AAPT and PowerTel are part of a consortium led by Optus who had shown interest in building a network in partnership with the Government.
Pipfruit New Zealand chief executive Peter Beaven said the change would not be a quick fix for apple exporters, who are anxious to end an 85-year-ban on exports to Australia.
New Zealand is taking action against Australia at the World Trade Organisation, after transtasman negotiations over apple exports stalled.
Beaven said he expected the new Government to review Australia's import risk policies, but the process could take two or three years.
"I'm sure it will be discussed at ministerial level," he said.
"But given that we've initiated WTO proceedings, [the new government] may just sit back and let that happen.
"Let's just say the pipfruit industry is not holding its breath."
Business New Zealand chief executive Phil O'Reilly said it would be a challenge to get Rudd to put as much focus on transtasman relations as Howard had done.
"John Howard showed a great deal of investment in the relationship in the past 10 years.
"What we need to do is work well with our business colleagues across the Tasman, and with our diplomats down in Wellington, to make sure our day-to-day relationships maintain their momentum," he said.
