Strengthening Trans-Tasman Economic and Regulatory Partnerships

Minister of Commerce and Consumer Affairs Scott Simpson departs today for Canberra and Sydney, embarking on a diplomatic mission aimed at deepening New Zealand's economic, regulatory, and consumer protection ties with Australia. His visit underscores the Government's commitment to fostering greater collaboration between the two nations in promoting fair competition, market integrity, and digital safety across the Tasman.

While in Canberra, Mr Simpson will meet with a range of ministerial counterparts from both Federal and State Governments to explore how closer cooperation can enhance the effectiveness of shared regulatory and policy frameworks.

"This visit is an opportunity to explore how New Zealand and Australian regulators can work together to promote fairer markets and drive economic growth across both economies," the Minister said. "Australia is one of our most important trading and regulatory partners, and our collaboration ensures both consumers and businesses benefit from stronger, more consistent protections."

Focus on Financial Competition and Consumer Protection

At the heart of the Minister's agenda is a series of meetings aimed at improving market competition and consumer protection mechanisms. He will meet with the Australian National Anti-Scam Centre, the Australian Banking Association, and global digital platforms including Google, to discuss emerging challenges in online fraud, financial transparency, and the digital marketplace.

"Engagements with major global platforms will help us advance anti-scam initiatives, strengthen consumer protections, and create safer, more resilient digital environments for people and businesses on both sides of the Tasman," Mr Simpson said.

The meetings are expected to cover a range of topics, including:

• Cross-border cooperation on scam prevention, particularly online fraud targeting small businesses and individuals.

• Regulatory consistency in the financial services sector to encourage fair lending, ethical banking practices, and improved transparency.

• Consumer data protection and privacy, in light of increasing risks from digital platforms and artificial intelligence technologies.

The discussions build on the Trans-Tasman Mutual Recognition Arrangement and long-standing cooperation through the Closer Economic Relations (CER) agreement, both of which serve as cornerstones of New Zealand–Australia economic integration.

Exploring Lessons from Australia's Workers' Compensation Systems

As Minister for ACC (Accident Compensation Corporation), Mr Simpson will also meet with key Australian officials and stakeholders to learn more about the structure and operation of Australia's various workers' compensation schemes.

Australia's model is notably diverse, with state-based systems complemented by national frameworks in certain sectors. These meetings will provide an opportunity to compare approaches to workplace injury prevention, compensation, and rehabilitation.

"While our compensation schemes are unique, by working together we can identify potential improvements, efficiencies, or collaborative opportunities to enhance outcomes for workers and employers in both nations," Mr Simpson said.

Areas of potential collaboration include:

• Sharing best practices in claims management and workplace rehabilitation.

• Exploring digital innovation in claims processing and service delivery.

• Strengthening occupational health and safety standards through shared research and training.

Enhancing Digital Trust and Market Resilience

Mr Simpson's discussions with Google and other digital platforms are expected to focus on tackling the growing issue of online scams and deceptive advertising, which have become major threats to consumer confidence and economic integrity.

The visit follows New Zealand's recent initiatives to update consumer credit laws, financial services regulations, and anti-scam protections in collaboration with industry and the public.

"Cross-border threats like online fraud don't stop at national boundaries," Mr Simpson said. "By aligning our efforts with Australia, we can make it harder for scammers to operate and easier for consumers to recognise and report suspicious activity."

A Continued Commitment to Trans-Tasman Cooperation

New Zealand and Australia maintain one of the world's closest economic partnerships, with billions of dollars in trade, investment, and services exchanged annually. The countries' regulatory cooperation has been instrumental in streamlining business operations, reducing compliance costs, and ensuring high consumer standards across both markets.

Mr Simpson's visit represents the Government's ongoing commitment to strengthening those frameworks while adapting to new global economic realities—including the rise of digital commerce, cybersecurity challenges, and shifting consumer behaviours.

He will return to New Zealand on 1 November, following a series of engagements that reinforce the enduring importance of the trans-Tasman partnership as a foundation for prosperity, innovation, and consumer confidence.