New Zealand Finance Minister Nicola Willis has put lowering the costs of trans-Tasman business and smoothing climate regulations at the top of her economic agenda for talks with Australia.
Australian Treasurer Jim Chalmers hosted his Kiwi counterpart in Sydney on Thursday, their first meeting since Ms Willis was appointed in November.
Ms Willis said she shared the NZ coalition government's "ambitious economic goals, our plans to grow trade, and our plans to deepen investment links between our two countries".
"We agreed the Single Economic Market is the best model for close integration of two sovereign independent countries anywhere in the world - and we need to keep it that way," she said.
"Treasurer Chalmers and I will work together to adapt it to reflect our modern economic and social challenges.
"This includes identifying and improving regulations standing in the way of the uptake of lower emissions technology and identifying options to strengthen regulatory coherence to support an efficient transition to net zero."
The pair will meet again later in the year in Australia alongside climate ministers from both countries, bedding in the Climate and Finance 2+2 Dialogue which began last year when there were Labor and Labour government on either side of the Tasman.
"Working together to tackle the challenges of clean energy transformation is critical if both our nations are to maximise the substantial benefits of the transition to net zero," Ms Willis said.
