GC Powerlist
The two largest economies in the South Pacific have been remarkably stable through the GFC, but are there troubling waters ahead? GC speaks to some of the region’s leading in-house counsel to find out.
Australia and New Zealand are Oceania’s two largest economies and have strong links beyond a feeling of shared culture and geographical proximity. The two countries enjoy extremely close economic and trading ties underpinned by legislation including the 1983 Closer Economic Relations agreement, which allows for free trade in goods and services, while the 1973 Trans-Tasman Travel Arrangement is an informal agreement allowing free movement of citizens between the two countries. Despite these connections, both economies have different vulnerabilities to the winds of global economic change.
