Trade ministers to review Free Trade Agreement, expand defense collaboration
Malaysia and New Zealand have set an ambitious goal to boost bilateral trade by 50% by 2030, as announced during a joint press conference held by Malaysian Prime Minister Anwar Ibrahim and New Zealand Prime Minister Chris Luxon. Both countries committed to eliminating non-tariff barriers and enhancing trade efficiency through e-certification and customs cooperation.
The trade ministers of Malaysia and New Zealand are scheduled to meet next year to review the Malaysia-New Zealand Free Trade Agreement (MNZFTA), as part of efforts to streamline and increase trade flows. While specific details of the trade expansion have not been outlined, the countries expressed determination to explore avenues for stronger economic ties.
“We’re also working on e-certification and new customs cooperation to smooth flows at the border,” said Prime Minister Luxon, emphasizing the need to ease the movement of goods between the nations.
In addition to trade, New Zealand plans to bolster defense cooperation with Malaysia. Luxon confirmed the deployment of a P-8A Poseidon patrol aircraft to Penang’s Butterworth Air Base for joint exercises, further solidifying the defense partnership between the two countries.
Beyond trade and defense, the two leaders expressed unified calls for a ceasefire in the ongoing Gaza conflict and stressed the importance of a two-state solution to achieve lasting peace in the region.
About the Malaysia-New Zealand Partnership
Malaysia and New Zealand have maintained robust diplomatic and trade relations since the signing of the MNZFTA, with both countries committed to deepening cooperation in various sectors, including defense, education, and agriculture. The goal of increasing trade by 50% by 2030 reflects the strong commitment to enhancing bilateral ties.
