A CANZUK agreement would allow free movement between each of the 4 countries, meaning law abiding citizens can live, work and study without a Visa. Free trade would also be a part of the deal and this will help build better business relationship with each country.
Canada, Australia, New Zealand and the United Kingdom are more than likely to succeed and prosper under mutual economic and social policies due to their similar socio-economic circumstances. The CANZUK nations share the same majority language, the same sovereign (Queen Elizabeth II), the same Westminster-style parliamentary system, the same common-law legal system, the same respect for democracy, human rights and the rule of law, and the same westernised culture.