By DayakDaily Team
PUTRAJAYA, Sept 2: Malaysia and New Zealand have agreed to increase bilateral trade value by 50 per cent by 2030.
New Zealand Prime Minister Christopher Luxon said this was agreed during a meeting with Malaysian Prime Minister Dato Seri Anwar Ibrahim in conjunction with the former’s first official visit to Malaysia today.
Apart from the bilateral trade expansion, he said both countries will further eliminate unnecessary barriers to trade that exist between the two countries and impede the flow, particularly on primary products.
“We are working on e-certification and new customs cooperation to ensure smooth flow at the borders.
“We also have talked a lot more on what we can do to strengthen our education links and our youth exchanges so that the next generation of Kiwis and Malaysians have that same close relationship that we enjoy today,” he said during a joint press conference held in Putrajaya today.
A press release issued by the New Zealand Government afterwards indicated that both Prime Ministers acknowledged ongoing work to conclude a bilateral Customs Mutual Recognition Arrangement, which will allow trusted traders to enjoy expedited cross-border customs clearance in both countries.
Additionally, both leaders looked forward to having the relevant agencies on both sides work towards the conclusion of the draft Export Plan for Fresh Fruit and Vegetables from Malaysia to New Zealand, specifically for the exportation of Malaysian Pineapples to New Zealand; a Dairy Implementing Arrangement, providing recognition of food safety system equivalence for dairy products; an upgraded Halal Implementing Arrangement; and an electronic certification Implementing Arrangement.
In 2023, New Zealand was Malaysia’s 28th largest trading partner, 22nd largest export destination, and 27th largest source of imports among countries in the Oceania region, with the total trade between Malaysia and New Zealand amounting to RM11.56 billion (USD2.54 billion).
As of June 2023, Malaysia was New Zealand’s second-largest trading partner, with the trade volume between the two countries reaching RM6.32 billion (USD1.46 billion). — DayakDaily
