The Ministers of Commerce, Agriculture, and Trade are meeting with their Australian counterparts in Canberra tomorrow for the annual Closer Economic Relations Ministerial Forum.
The forum provides an opportunity for New Zealand and Australia to review and progress the bilateral trade and economic relationship.
"In the current economic climate it's critical we work together towards a truly single economic market, which will have benefits for both countries in reducing business costs, and increasing productivity and innovation," Commerce Minister Simon Power said.
"There's a high level of shared political commitment on both sides of the Tasman to strengthen and deepen our relationship and I believe this meeting will see more good progress on achieving our ultimate goal of a single economic market."
The agenda includes progressing the 27 regulatory outcomes identified by the Australian and New Zealand Prime Ministers in August last year, as well as comparing notes on domestic developments.
Trade Minister Tim Groser said Ministers will also have a chance to discuss a number of broader issues of shared interest.
"Australia remains New Zealand's closest partner, and I look forward to reaffirming and strengthening our close cooperation on regional and global trade and economic issues that matter to Australasia, including the WTO Doha Round negotiations and the prospect of a Trans-Pacific Partnership Free Trade Agreement."
Agriculture and Forestry Minister David Carter said the meeting was timely on several fronts.
"It provides a valuable opportunity to update Australia on the development of the Global Research Alliance and other climate change initiatives, progress the streamlining of trans-Tasman travel, and examine ways we can work together to combat illegal logging."
The forum is also the final opportunity to resolve any outstanding bilateral issues before the visit of Australian Prime Minister Kevin Rudd to New Zealand on 29 June.
Australia will be represented at the forum by Trade Minister Simon Crean, Financial Services, Superannuation and Corporate Law Minister Chris Bowen, and Agriculture Fisheries and Forestry Minister Tony Burke.