"Next year marks the 30th anniversary of the historic Closer Economic Relations (CER) agreement between Australia and New Zealand. The close relationship between the two countries goes back much further, with people moving freely across the Tasman since colonial times. Integration has increased over the past three decades, with trade, investment and people movements yielding benefits for both countries. With some 480 000 New Zealand-born people now living in Australia and around 65 000 Australian-born people living in New Zealand, personal ties are extensive and deep. Commercially, Australia is New Zealand’s largest export market and more than half of its foreign direct investment comes from Australia. As Australia’s economy is over seven times the size of New Zealand’s, the commercial significance of New Zealand for Australia is smaller but nonetheless important. New Zealand is a major market for Australia’s manufactured exports and Australians held investments in New Zealand worth around A$74 billion in 2010. The two countries have similar political, legal and economic institutions, as well as language and culture, leading to a relationship that the two Prime Ministers have recently described as being ‘like no other’ (Key 2011) and as ‘family’ (Gillard 2011a)". --P.3.
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