Jin10 data reported on October 4 that Australia and New Zealand will accelerate the promotion of a more ambitious "Single Economic Market" plan, aimed at integrating the economies of the two countries and reducing operational barriers for businesses. The trade ministers of both countries issued a joint statement after meeting in Monarto, South Australia, on Saturday, stating that they will expedite measures to make it easier for businesses to operate in both markets, including aligning regulations and standards. New Zealand's Trade Minister McClay stated, "This is not only to facilitate trade, investment, and development between our two countries but also to better expand into a broader region." The statement noted that McClay and Australia's Trade Minister Farrell also discussed how recent global dynamics have intensified economic uncertainty and reaffirmed their shared commitment to an open market and a rules-based trading system. The two ministers agreed to promote "ambitious reforms" to the World Trade Organization to improve its decision-making mechanisms, rule-making, and enforcement.
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Australia and New Zealand will accelerate the promotion of economic integration plans.
Jin10 data reported on October 4 that Australia and New Zealand will accelerate the promotion of a more ambitious "Single Economic Market" plan, aimed at integrating the economies of the two countries and reducing operational barriers for businesses. The trade ministers of both countries issued a joint statement after meeting in Monarto, South Australia, on Saturday, stating that they will expedite measures to make it easier for businesses to operate in both markets, including aligning regulations and standards. New Zealand's Trade Minister McClay stated, "This is not only to facilitate trade, investment, and development between our two countries but also to better expand into a broader region." The statement noted that McClay and Australia's Trade Minister Farrell also discussed how recent global dynamics have intensified economic uncertainty and reaffirmed their shared commitment to an open market and a rules-based trading system. The two ministers agreed to promote "ambitious reforms" to the World Trade Organization to improve its decision-making mechanisms, rule-making, and enforcement.