CER and ASEAN are each advancing regional integration agendas and New Zealand Prime Minister John Key and Australia Prime Minister Julia Gillard recognise that the Australia-New Zealand CER (Closer Economic Relations Trade Agreement) experience – good and bad – might offer some useful insights for ASEAN as it tackles its own, highly ambitious, economic integration process.
Since CER was launched in 1983, the value of two-way merchandise trade has grown at an average annual rate of 8 percent. Integration has generated wealth and ever-deeper integration.