Australia and New Zealand share many historical and cultural characteristics due to their heritage as British settler colonies beginning in 1788. Both countries were populated by indigenous people prior to European colonization, with the Maori in New Zealand and indigenous Australians in Australia, and these populations were greatly decreased by the entrance of European settlers and today constitute 8% and 1% of their respective national populations. Relations between indigenous people and European settlers were very tense and resulted in wars in both countries. Each country gained independence from England in the early 20th century, and between 1901 and 1907 they were both considered part of the Commonwealth of Australia. Today, the two countries are separate, but both are part of the Australia New Zealand Closer Economic Relations Trade Agreement, or ANZCERTA, which connects the markets between the countries. Both countries originally used a monetary system based on the British pound and switched to using dollars in the 1960s. Additionally, their governments are similarly structured: they each have a separation of governmental powers, a constitution, and a common law legal system. Indigenous rights are recognized by land titles in both countries that give indigenous people certain self-government and land ownership rights.
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