New Zealand predicts it could be a relatively quick journey to a single carbon trading market with Australia once both nations bed down laws to cut emissions.
New Zealand Prime Minister John Key, on a visit to Australia, tipped it could happen "relatively soon", once both nations passed laws to put in place an emissions trading scheme (ETS).
The Senate voted down the federal government's emissions trading legislation last week but it is expected to go before the parliament again in November.
"Ultimately, I think we can be in a position where Australia and New Zealand have not only a very similar response to carbon trading ... (as well as) a single trading market," Mr Key told the National Press Club on Thursday.
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