29 July 2004

Another step taken towards single economic market

The Australian and New Zealand governments have taken another step towards achieving the long term goal of a single economic market in the two countries, this time with a focus on competition and consumer protection law.

Australian Treasurer Peter Costello and New Zealand Commerce Minster Margaret Wilson today announced details of a Productivity Commission research study examining the potential for greater cooperation, coordination and integration of the general competition and consumer protection regimes in Australia and New Zealand.

The research study will look at the core restrictive trade practices and consumer protection provisions of Australia's Trade Practices Act 1974, New Zealand's Commerce Act 1986 and Fair Trading Act 1986, and the associated institutions on both sides of the Tasman. It does not include industry-specific regimes such as telecommunications or electricity.

"This is a forward looking research study to inform both governments on possible future arrangements to better align our respective legislation and practices to remove barriers to trans-Tasman business. All options are on the table, including having common laws and a single trans-Tasman enforcement agency," Peter Costello and Margaret Wilson said in a joint statement today.

The Productivity Commission has been asked to consult widely with interested parties on both sides of the Tasman and to report to both Governments within six months.

Peter Costello and Margaret Wilson said the outcomes of the study will not bind either government to a policy approach.

"Any subsequent changes to policy following the study will require a separate process in each country, which would include a further round of consultation with interested parties in each country." A copy of the terms of reference is attached.

For more information about the study or lodging submissions, see the Productivity Commission’s website at www.pc.gov.au

ENDS

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>