CER Trade Ministers Agree To Fast Track Single Economic Market AgendaHon Todd McClayMinister for Trade and InvestmentNew Zealand and Australia have agreed to fast-track work on a more ambitious Single Economic Market (SEM), as Trade and Investment Minister Todd McClay and Australian Trade and Tourism Minister Don Farrell concluded the annual Closer Economic Relations (CER) Trade Ministers’ Meeting in Monarto, South Australia today. Key outcomes included:Advancing regulatory and standards alignment through a new Heads of Agreement between Standards Australia and Standards New Zealand. through a new Heads of Agreement between Standards Australia and Standards New Zealand. Deepening economic integration by strengthening the Trans-Tasman Mutual Recognition Arrangement and progressing Single Economic Market reforms that make it easier for businesses to operate across the Tasman. by strengthening the Trans-Tasman Mutual Recognition Arrangement and progressing Single Economic Market reforms that make it easier for businesses to operate across the Tasman.