Australia to discuss immigration deals with New Zealand following Brexit

Australian Prime Minister Malcolm Turnbull said that his country would collaborate with New Zealand to discuss a new trade and immigration deal following the UK’s decision to leave the European Union in a referendum in the last week of June.

Mr. Turnbull said that he had ordered the Treasury officials and diplomats to immediately evaluate the consequences of Brexit.

Speaking to reporters in Adelaide on 27 June, he said that he had been in touch with New Zealand Premier John Key sounding a warning bell over the fallouts of Britain exiting the EU.

ABC News quoted him as saying that Australia had many common interests with New Zealand in dealing with the issue, as far as trade and movement of people were concerned.

If he was elected as the Prime Minister again, Mr. Turnbull wished to arrive on an agenda through collaboration and cooperation with their neighbouring country. He cautioned that Britain’s decision had caused many opportunities and trials to emerge.

Mr. Turnbull said that he had ordered the Reserve Bank and Australia’s financial regulators, ASIC and APRA, to provide a feedback soon. He said that though a degree of stability could be seen in the financial markets, political uncertainty was quite significant at this stage.