Australia and NZ to work together on ETS, medicines

Australia and New Zealand have agreed to work together to try to link the two countries emissions trading schemes.

Prime Minister John Key met with his Australian counterpart Julia Gillard on Monday afternoon, ahead of his speech to the Australian Parliament.

Ms Gillard is under domestic political pressure over her plan to introduce a price on carbon.

But she says both Governments recognise that linking global markets provides the most cost effective approach to reducing greenhouse gases.

John Key says it is up to Australia to decide its own emissions policy, but he believes New Zealand's ETS is working.

New, joint medicines agency

Mr Key also announced a new trans-Tasman agency to regulate medicines, medical devices and new medical interventions.

He says New Zealand's regulatory arrangements need to be updated, and this is a cost effective and comprehensive way of achieving that.

Mr Key says officials from both countries will begin work on a joint agency immediately.

Read More

http://www.radionz.co.nz/news/political/78179/australia-and-nz-to-work-together-on-ets,-medicines