Enhancing trans-Tasman economic integration

Wednesday, 4 April 2012
Enhancing trans-Tasman economic integration

The Australian and New Zealand Productivity Commissions today released an issues paper for their inaugural study on options for further integrating the Australian and New Zealand economies.

The two Commissions have been asked to provide advice to the Australian and New Zealand governments on the opportunities, costs and benefits of further economic integration. The study is being headed by the Commissions’ chairmen, Gary Banks and Murray Sherwin, together with Commissioners Jonathan Coppel (Australia) and Graham Scott (New Zealand). They welcomed the opportunity to work together on a significant policy topic for both countries.

The issues paper outlines the scope of the study and the approach being taken, and highlights areas where the Commissions are seeking comment or information.

New Zealand Productivity Commission Chairman, Murray Sherwin, said, “New Zealand and Australia are close neighbours that already benefit from significant economic integration. Our job is to advise on potential ways to further enhance that integration for the benefit of both countries. We have been asked to look at options for boosting productivity through reducing the regulatory burden on business, increasing competition and encouraging closer economic cooperation”, he said. “We encourage anyone interested in these matters to have their say by putting in a submission."

Chairman of the Productivity Commission in Australia, Gary Banks, observed, “The joint study is also a chance to think broadly about the future of economic integration between Australia and New Zealand, taking into account regional and global trends. Developing a framework to chart the future of integration should, in itself, be a valuable outcome of the study”.

A draft report is due for release in early September, with the final report being delivered to the two Governments by 1 December, ahead of a meeting of the Prime Ministers in early 2013.

Further information on the study can be viewed on the study website via www.transtasmanreview.

productivity.govt.nz or www.transtasman-review.pc.gov.au.

ENDS

TransTasman_issues_paper.pdf

About the Australian Productivity Commission

The Australian Productivity Commission is the Australian Government’s independent research and advisory body on a range of economic, social and environmental issues affecting the welfare of Australians. Its role, expressed most simply, is to help governments make better policies in the long term interest of the Australian community.

www.pc.gov.au

About the New Zealand Productivity Commission

Established in April 2011 as an independent crown entity with a dedicated focus on productivity.

The Commission carries out in-depth analysis and research on inquiry topics selected by the Government (currently housing affordability and international freight transport services).

The Commission’s aim is to provide insightful, well-informed and accessible advice that leads to the best possible improvement in the wellbeing of New Zealanders.

www.productivity.govt.nz

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