Malaysia sees continued trade ties with NZ

By SHAHEERA AZNAM SHAH / Pic By MUHD AMIN NAHARUL

Malaysia is likely to continue luring investment from New Zealand, leveraging on the opportunity in the information technology (IT) and tourism sector, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

“Malaysia and New Zealand have shared a long and strong trade and educational ties, and 2017 marks 60 years of our diplomatic union.

“Malaysia is anticipating securing more investment in new sectors primarily in the IT and tourism sector,” he stated at the Discover Aotearoa New Zealand Festival in Kuala Lumpur yesterday.

Mustapa declared that the zero-tariff rate recognised by both countries gives Malaysia and New Zealand a wider prospect in establishing new investment agreement.

“The Malaysia-New Zealand Free Trade Agreement that we have signed in 2009, has significantly increased to 50%, attributed to the strong diplomatic ties that we have established,” he said.

Malaysia has become one of New Zealand’s fastest-growing export market with key exports that includes milk powder, butter and dairy spreads, meat products, as well as fruits and vegetables which at present stand at NZ$1.17 billion (RM3.4 billion).

In 2016, Malaysia exported RM4.4 billion worth of products — among them are crude petroleum oil, and electrical and electronic products.

The New Zealand High Commission reported that in 2016, more than 55,000 Malaysians visited New Zealand which is an increase of 36% from the previous year.

Fonterra Brands (M) Sdn Bhd, a dairy product producer based in New Zealand, continues to favour Malaysia as one of its top export market within the South-East Asia region.

“We have established a strong business structure here in Malaysia by having a dairy factory and regional global business centre that provides consultation, as well as financial services for our operations in the region.

“Our products produced in our Shah Alam factory are currently being exported to 14 countries including Qatar,” MD Jose Miguel Porraz Lando told The Malaysian Reserve.

Lando proclaimed that Fonterra Malaysia has seen growth across Asia — particularly in China.

“China has been listed to be an important destination with the increase of 46% in sales volume growth this year. With that said, we have determined that China, Brazil, Indonesia and Australia to be a prospective export market,” concluded Lando.