The trans-Tasman productivity report

The recommendations from the joint report by the Australian and NZ productivity commissions are here. Some of the more significant ones are:

  • Mutual recognition of imputation credits (MRIC) would be expected to result in a more integrated capital market and improve trans-Tasman economic efficiency.
  • The prerequisite conditions for a trans-Tasman monetary union do not exist.
  • The Australian and New Zealand Governments should proceed with the implementation of a single application and examination process for patents.
  • The Australian and New Zealand Governments should waive CER Rules of Origin for all items for which ’s and New Zealand’s Most Favoured Nation tariffs are at 5 percent or less and  consider reducing any tariffs that exceed 5 percent to that level.
  • The Australian and New Zealand Governments should remove the remaining restrictions on the single trans-Tasman aviation market.
  • The Australian and New Zealand Governments should consider removing remaining restrictions on trans-Tasman foreign direct investment.
  • The Australian and New Zealand Governments should consider a ‘trans-Tasman tourist visa’ for citizens from other relevant countries who wish to travel to both countries.
  • The Australian Government should address the issues faced by a small but growing number of non-Protected Special Category Visa holders living long term in Australia, including their access to certain welfare supports and voting rights.

Many good proposals there.