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Regulatory reform needed for better Trans-Tasman trade

Regulatory reform needed for better Trans-Tasman trade article image

A survey conducted by freight integrator DHL reveals that 57 percent of exporters believe harmonisation of regulatory and tax laws would have the greatest impact on reducing Trans-Tasman trade barriers. Only 28 percent said a single currency would achieve the same effect. Although plenty Australian businesses export to New Zealand, 69 percent say more could be done to improve Trans-Tasman trade. "Almost half of them say they experience trade barriers when selling to New Zealand," said DHL Oceania senior vice president Gary Edstein. "There has been much debate on the value of a single currency to improving Trans-Tasman trade, however closer attention needs to be given to common tax laws including GST and company trade restrictions." More New Zealand respondents (23 percent) thought the Australian government works harder to improve Australia-New Zealand relations than the New Zealand government (4 percent), while 39 percent of Australian exporters think the government efforts by both countries were the same. The survey results came from 535 Australian and New Zealand exporters.

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