Why code reviews are awesome

Improve skills

Getting feedback on your code makes you a better developer.  So does reading others' code.

Giving feedback makes your colleagues better and means there will be fewer bugs and architectural issues for everyone to deal with.

Learn other systems

Reviewing code from more distant teams will help both teams learn more, and maybe learn some better ways of doing things or share more code.

Less Maintenance

Code that has been reviewed is easier to read, which makes maintenance much less painful. 

Reviewed code also has fewer bugs, so you won't have to do as much maintenance.