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Aus, NZ to cooperate after Brexit

NZ NewswireNZ Newswire 27/06/2016
Malcolm Turnbull and PM John Key © Getty Images Malcolm Turnbull and PM John Key

Australia and New Zealand have agreed to work together on the "big issues" Brexit presents to both countries, including trade and immigration, Australian Prime Minister Malcolm Turnbull says.

Mr Turnbull told reporters in Adelaide today he had been in contact with Prime Minister John Key, warning the implications of Friday's historic vote were "considerable".

"We have many, many common interests in terms of dealing with that, both from a trade point of view, from a movement of persons point of view," he said.

"There are some big issues in terms of the access of Australians and New Zealanders to Europe and indeed to the United Kingdom."

Mr Turnbull said he wanted to establish a "collaborative, cooperative framework" with New Zealand if he was returned as prime minister.

He warned there were "opportunities and challenges" arising from the United Kingdom's decision and he had ordered a "comprehensive report" on its likely consequences.

"We are keeping a very, very close eye on it," Mr Turnbull said.

He said he had ordered the Reserve Bank, as well as the financial regulators ASIC and APRA, to provide a report early next week to whoever wins Saturday's federal election.

Mr Turnbull said while there was a "measure of stability" returning to financial markets, there remained "considerable political uncertainty".

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