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Home / Business / Economy

Cullen looks to advance single market with Australia

25 Jan, 2007 01:05 AM2 mins to read

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Michael Cullen

Michael Cullen

KEY POINTS:

Progressing a single economic market with Australia will be top of the agenda when Finance Minister Michael Cullen meets trans-Tasman counterpart Peter Costello next week.

Dr Cullen and the Australian treasurer will meet in Wellington on Monday.

"I look forward to these meetings as they are a valuable
opportunity to discuss issues of mutual interest and importantly to accelerate progress on the single economic market agenda," Dr Cullen said today.

"Australia remains our largest trading partner, a valuable market of well over 20 million people right on our doorstep and the first offshore market for many Kiwi companies.

"Therefore, it is vital we continue the momentum in recent years towards a single economic market. Our aim is to make it as easy for a company to expand its business in Sydney as it is in Auckland."

Dr Cullen said following a similar meeting last year law changes were agreed to so respective banking supervisors were able to better support each other and to allow mutual recognition of securities offerings and improved information sharing between competition authorities.

Also on the agenda for Monday were;

* Trans-Tasman tax issues, including implications of the International Tax Review.

* Business law coordination.

* Banking supervision.as

* Climate change.

* Trade and other regional economic issues, including Australia's hosting of APEC later this year.

Commerce Minister Lianne Dalziel and Revenue Minister Peter Dunne would attend some of the discussions.

- NZPA

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