Prime Minister Anthony Albanese and New Zealand counterpart Christopher Luxon held the annual leaders' meeting in Noosa, Queensland, on Saturday.
Mr Luxon arrived in Australia on Friday for a two-day visit.
He told reporters the relationship between the two nations was "in the best shape it's ever been".
"At its core this is a relationship that is deeply integrated, it is highly practical and pragmatic," Mr Luxon said on Saturday.
"It's focused on delivering outcomes for both of our countries, and the priority for both of us is to continue to build on that strength, focusing on positioning Australia and New Zealand to make the most of the opportunities ... in spite of the volatility and the uncertainty."
The pair also discussed how to deepen defence and security co-operation, particularly in the Pacific.
"We have a defence personnel embedded in each other's defence forces, that is very important," Mr Albanese said.Â
"We co-operate and see huge opportunities in not just in the defence of our respective nations and working together, but in defence industry as well."
Mr Albanese and his wife Jodie Haydon hosted a reception for Mr Luxon and Amanda Luxon on Friday evening, with business leaders from the two nations in attendance.
Mr Luxon earlier met with members of Brisbane's 2032 Olympic Committee where he spruiked his nation's businesses for massive construction projects.
He said his government would make the most of the event to promote New Zealand as a tourist destination, with the eyes of the world on the region.
The meeting comes after senior ministers from Mr Luxon's government have called on Australian business owners unhappy with the federal government's changes to the capital gains tax to move across the Tasman.
New Zealand's leader remains strongly opposed to taxing capital gains, saying it will harm businesses.
But Mr Albanese appeared to brush aside the comments from counterparts across the ditch.
"I'm very relaxed about what people say overseas are tongue-in-cheek (and) I doubt whether anyone took it any more seriously than I did," he said.
"I have no intention of engaging in internal New Zealand politics, and I don't think (their) finance minister (Nicola Willis) was doing that either."
It is Mr Luxon's third official visit to Australia, after he last travelled to Canberra in August 2024 for talks with Mr Albanese.
The previous annual leaders' meeting was held in Queenstown in August 2025.
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