Australia and New Zealand are like a couple of squabbling siblings most of the time. We make jokes at each others’ expense, including our different accents (they really are different!), and we love to beat each other at sports. You would have seen plenty of references to this rivalry if you ever watched the Flight of the Conchords. But when it comes to the big stuff we’ve (usually) got each others’ back all the way. We love each other. Really. There, I said it.
Our love for each other is evident in the work that’s been done to harmonize the regulatory environments of Australia and New Zealand since the entry into force of the “Closer Economic Relations” free trade agreement in 1983. The two countries recognize that there are many advantages to allowing goods, services and people to move as freely as possible between them, and for businesses to be able to operate under similar regulatory requirements in each country. In fact, the ultimate vision is to move towards a single economic market.
Over the years, there have been a wide range of reciprocal arrangements made and bilateral agreements reached on different matters. Some of these require new legislation to be enacted in each country in order for them to be implemented. In particular, the Trans-Tasman Mutual Recognition Arrangement, which is a “cornerstone of a single economic market and a powerful driver of regulatory coordination and integration,” resulted in overarching legislation being enacted in 1997 in Australia and New Zealand.
Most recently, the Trans-Tasman Proceedings Act 2010 was passed by the New Zealand parliament last week. The Australian version of this legislation was enacted in March of this year. The statutes arose from a 2008 treaty aimed at improving the resolution of disputes involving parties from the two countries and ensuring that court orders of the other country can be easily enforced. This followed a 2006 report by a working group of officials from New Zealand and Australia that had been established in 2003 to examine the issues and come up with proposals. The legislation: