Although there is not a formal trans-Tasman
investment regime, New Zealand is the sixth largest
source of overall foreign investment in Australia,
and Australia is the largest investor in New Zealand.
Over half of Australia’s total investment in
New Zealand is foreign direct investment,
reflecting the high level of economic integration.
Recently there has been significant new commercial
investment from Australia in New Zealand’s
transport and banking sectors. On 17 February
2005, Australian Treasurer Mr Peter Costello and
New Zealand Finance Minister Dr Michael Cullen
agreed at their annual meeting to investigate the
possibility of adding an investment component
to CER.