(November 6, 2009) The trade ministers of New Zealand and Malaysia signed a free trade agreement in Kuala Lumpur on 26 October 2009, after ten rounds of negotiations over a four-year period. The free trade agreement builds on the commitments made by the two countries under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) signed in February 2009. The bilateral free trade agreement includes measures in the areas of trade in goods and services, customs cooperation, intellectual property, free movement of businesses, investment, economic cooperation and dispute settlement. The two countries have also signed agreements on trade, labour and trade and the environment, which complement the free trade agreement. (Ministry of Foreign Affairs and Trade, THE NEW ZEALAND – MALAISIA FREE TRADE AGREEMENT (Oct. 2009), available from www.mfat.govt.nz/downloads/trade-agreement/malaysia/mnzfta-guide-to-fta.pdf.) Calendar: Negotiations began in 2005, the agreement was signed in October 2009 and came into force in August 2010 The free trade agreement will reduce almost all tariffs on goods traded between the two countries by 2016, five years earlier than agreed under the AANZFTA. (Id.) The free trade agreement will enter into force in 2010, when both countries have completed the necessary national authorisation procedures. Total trade with New Zealand was $5.46 billion.RM ($1.31 billion) down 22.4% in 2015 from $7.03 billion.RM ($1.80 billion). Malaysia is one of our fastest growing export markets and our sixth largest trading partner for products. In 2014, two-way merchandise trade totaled more than $3 billion. Documents relating to the free trade agreement, including the full text of the agreement, are available on the website of the New Zealand Ministry of Foreign Affairs. (Malaysia – Free Trade Agreement with New Zealand, October 28, 2009, available at mfat.govt.nz/Trade-and-Economic-Relations/Trade-Agreements/Malaysia/index.php.) With the large and growing population of Malaysia, there are many opportunities for growth and our free trade agreement is helping to pave the way.
The agreement offers importers and exporters more than previous commitments of the ASEAN Australia New Zealand Free Trade Agreement (AANZFTA). New Zealand has another trade agreement with Malaysia – AANZFTA, which includes Australia and other ASEAN countries. The pricing system (external link) helps you choose which one, but there are other factors such as handling and routing requirements that you also need to consider. Use the tariff calculator (external link) and this NZIER [PDF, 130 KB] study [PDF, 130KB] to help you make your decision. New Zealand Prime Minister John Key said the free trade agreement was “a significant step forward in relations with Malaysia and further evidence of our economic integration with Asia.” (Press release, Hon. John Key, PM Welcomes NZ-Malaysia FTA Signing (October 27, 2009), available on www.beehive.govt.nz/release/pm+welcomes+nz-malaysia+fta+signing.) Best seen with Internet Explorer 10 and above with Resolution 1280 x 800 Bilateral trade between New Zealand and Malaysia was worth $1.9 billion in 2008, an increase of 46.2% over 2007. (Trade Between New Zealand and Malaysia Expected to Soar Next Year, Bernama [Malaysian National News Agency], 26 October 2009, available at www.bernama.com/bernama/v5/newsindex.php?id=450013.) Malaysia is New Zealand`s eighth largest export destination and the ASEAN region`s largest trading partner. Exports to Malaysia have increased by more than 80% over the past four years. (Press release, Hon. Tim Groser, Malaysia-NZ FTA Boosts Profile in Vital Market (Oct.