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Source: ONE News -
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An Australian economist wants to see more business collaboration between the trans-Tasman neighbours.
Australian Trade Commission chief economist Tim Harcourt says it's a big world out there and "two little corks in the ocean...could do a bit more together".
Getting New Zealand and Australian trade officials working more closely when negotiating foreign trade deals was a key focus of Harcourt's visit to Wellington this week.
The relationship is worth $27 billion and Australian growth in China and India is also paving the way for success in NZ, he says.
"We could do with a bit of collaboration while still having a having healthy competition," says Harcourt.
"Australia used to talk about the tyranny of distance but now is talking about the power of proximity."
Harcourt says demand from countries such as China, India, the Asean states and emerging states in Latin America offers strong growth potential and will outstrip any negatives regarding the currency. However he says companies that don't have an import factor can be hit hard by the high currency.
He told NZI Business the most important thing between Australia and New Zealand is having a common market, trade, and investment across the Tasman.
He cites the "enormous success" since CER and says 17,000 Australian companies export to NZ, giving small businesses in particular a real break.
As two separate nations we should celebrate what we have in common, says Harcourt.
