PM Transcripts

PRIME MINISTER
FOR MEDIA 15 MAY 1990
Prime Minister Palmer of New Zealand has accepted my
invitation to visit Australia in early July.
The main purpose of the visit is to mark the achievement
of full free trade in goods between Australia and New
Zealand on 1 July and to discuss future directions under
the Close Economic Relations ( CER) Agreement.
I am pleased that progress achieved to date under CER has
been faster and more extensive than had been thought
possible when the Agreement was signed in 1983. Since
then, total bilateral trade across the Tasman has grown
at an average annual rate of 14%, from about SA1.8
billion in 1982-83 to SA4.18 billion in 1988-89. New
Zealand remains Australia's fourth-largest trading
partner overall, our third-largest destination for
exports and fifth-largest source of imports.
A review of the CER arrangements undertaken in 1988 led
to acceleration of trade liberalisation between our two
countries, and a further review is due in 1992. Mr
Palmer and I will be discussing that review and the
opportunities it provides for us to look to the future
interaction of our economies and to enable us both to
take advantage of emerging regional trading
opportunities. 73 11