In response to the Committee`s interest, on 1 March 2006, the Minister of Commerce, MP Mark Vaile, referred to the Commission an inquiry into the Australia-New Zealand trade agreement on closer economic relations. The Minister agreed with the committee that the investigation was timely and relevant to Australia`s commercial interests, noting that there had been a number of changes and additions to the agreement over the past two decades. The Minister concluded that the inquiry would raise public awareness of the benefits of cer and SEM and would also provide an opportunity for ”debate on ways to further develop trans-spectrum trade and investment relationships.” 24 The Closer Economic Agreement between Australia and New Zealand (ANZCERTA), which entered into force in 1983, was Australia`s first bilateral agreement. ANZCERTA has created one of the most open and successful free trade agreements in the world. On 14 December 1982, the Prime Ministers of Australia and New Zealand signed an agreement on CERs, which allowed the agreement to enter into force on 1 January 1983. The current treaty was signed on March 28, 1983.3 The CER`s 2013 Investment Protocol is an ambitious investment agreement and maintains the CER`s status as one of the most comprehensive free trade agreements in the world. The protocol reduces compliance costs and creates greater legal certainty for cross-Channel investors by providing higher thresholds for foreign investment screening. JSCFADT, Report 128, Review of the Operation of Free Trade Agreements with Singapore, Thailand and the United States of America – Progress to Date and Lessons for the Future, Canberra, November 2005. Previous The 1983 Australia-New Zealand Agreement on Closer Economic Relations (CERs) is by far the oldest of Australia`s four free trade agreements (FTAs) with other countries – Australia has free trade agreements with Singapore (July 2003); Thailand (January 2005); and the United States (January 2005). The Australia-New Zealand Closer Economic Relations Trade Agreement, commonly referred to as closer economic relations (CER), is a free trade agreement between the governments of New Zealand and Australia. It entered into force on 1 January 1983, but the treaty itself was not signed until 28 March 1983 by the Deputy Prime Minister of Australia and Minister of Trade Lionel Bowen and the High Commissioner of New Zealand to Australia, Laurie Francis, in Canberra, Australia. Since 1983, there have been numerous agreements and memoranda of understanding between Australia and New Zealand. The aim was to remove regulatory barriers to transatlantic trade and harmonise domestic policy.
Important highlights were: Chronology: The CER replaced the 1965 New Zealand Free Trade Agreement (NAFTA). Talks began in the late 1970s and a new agreement was reached in December 1982. The Régie came into force in January 1983. Introduction The trade agreement between closer economic relations History of the agreement The Government is examining the results of the agreement Future directions Supplementary parliamentary reviews Conduct of the inquiry Visit of a delegation to New Zealand Structure of the report The Régie is a result of an earlier free trade agreement that entered into force in 1966 and the Trans-Tasmanian travel arrangement of 1973, which enabled the citizens of Australia and New Zealand to: Live and work in the other country.2 The Sub-Committee was impressed by the comprehensiveness of the presentations by representatives of the Australian Government and their flawless planning of visits to Australia and New Zealand. The two main points of contention in the negotiations were New Zealand`s desire to improve access for its dairy products to Australia and Australia`s wish that New Zealand lift export incentives and quantitative restrictions. After overcoming both obstacles, the heads of agreement were signed on 14 December 1982 and entered into force on 1 January of the following year. Measures taken to advance SEM and THE RAC include: Trans Tasman Mutual Recognition Agreement (TTMRA) (external link) New Zealand has concluded a second free trade agreement with Australia – AANZFTA – between New Zealand, Australia and the Association of Southeast Asian Nations (ASEAN). In most cases, it is preferable to use the CER to export goods to Australia. The 1988 CER Protocol on Trade in Services (external link) allowed free trade in almost all services and gave New Zealand and Australian service suppliers extensive access to the respective markets. The Protocol contains certain exclusions (areas where full access is not granted) that have been regularly reviewed and significantly reduced over time. The issues discussed at the various meetings of the Subcommittee have been included, where appropriate, in the main part of the report. An itinerary for the delegation`s visit can be found in Annex D.
Trans-Tasmanian Results Implementation Group (TTOIG) (external link) The Committee received 31 submissions (listed in Annex A), 7 exhibits (listed in Annex B) and received testimony from more than 48 individuals and organisations at three public hearings in Canberra (listed in Annex C). Double taxation agreement (external link) (Inland Revenue) Recently, there have been significant New Zealand investments in the Australian dairy industry12 and significant Australian investments in the New Zealand transport and banking sectors.13 The previous free trade agreement between New Zealand and Australia was a free trade agreement between New Zealand and Australia that required long lists of products to be included in the free trade plan. .