Australian Prime Minister Julia Gillard has started her visit to New Zealand, focusing on building a stronger economic bond between the two nations.
Gillard flew into Auckland on Tuesday for a two-day visit where she was met by Prime Minister John Key.
Gillard spoke to a business luncheon in the central city and visited the school where Key launched the contentious national standards for reading, writing and maths for primary and intermediate schools in 2009.
The Australian prime minister, at the business lunch, thanked New Zealand for its support during Australia's "summer of hardship " which has included floods, cyclones and bushfires in several states.
She emphasized the need to continue to strive for closer economic relations and cited the Investment Protocol, due to be signed in Wellington on Wednesday, as an example.
Gillard said the two countries are very close friends, share the same outlook, the Anzac bond, and a partnership based on economic integration.
Under the investment agreement, Australians will be able to invest up to 477 million NZ dollars (360 million U.S. dollars) in New Zealand without facing screening. In turn, New Zealanders will be able to invest about 1 billion NZ dollars in Australia.
Gillard arrived in Wellington on Tuesday evening and will begin official discussions with Key on Wednesday.
On Wednesday, Gillard and Key will finalize a new trans-Tasman investment agreement which is seen as the next step in bringing the two economies closer together.
She was to address Parliament in the debating chamber.
Key said on Monday she would be the first foreign leader to speak in Parliament and that was a very significant event which showed the importance of the relationship between New Zealand and Australia.
She is due to fly out of Wellington for Canberra on Wednesday afternoon.