Prime Minister Malcolm Turnbull and and his New Zealand counterpart Bill English have sat down to compare the relative strengths of their economies.
Sitting opposite the Mr Turnbullr, Treasurer Scott Morrison and Industry Minister Arthur Sinodinos, Mr English said both countries were very fortunate.
He noted the Australian economy has not been in recession in 25 years.
"So it's a great opportunity today to hear from our four economic ministers here," Mr English said, alongside NZ Finance Minister Steven Joyce and Economic Development Minister Simon Bridge.
Mr Turnbull praised Mr English's many years of "successful stewardship" of NZ's finances and economy.
"We're looking forward to hearing from you and your colleagues about how you've made such a great success of the New Zealand economy," he said.
"We're all committed to free trade and open markets. We know that trade means jobs."
Mr Turnbull said Australia wanted the economic relationship between both countries to be even closer.
"It's a great partnership and on that foundation we've built strong economic growth, more jobs and prosperity for Australians and New Zealanders over many years and many years to come."
Mr Turnbull is in New Zealand until Saturday.
