New Zealand and Malaysia have agreed a free trade agreement, New Zealand Trade Minister Tim Groser said on Jun. 2.
'This FTA is great news for New Zealand. Our negotiators have secured a high quality, comprehensive FTA that provides commercially meaningful benefits to New Zealand businesses,' Minister Groser was quoted by news reports as saying in a statement.
Malaysia is New Zealand's seventh largest trading partner, with two-way trade worth nearly 3 billion New Zealand dollar (over 1.9 billion USD) annually.
New Zealand exports to Malaysia were worth 1 million New Zealand dolar last year and goods exports have been growing at 34 percent annually since 2005.
'Improved market access and greater certainty for New Zealand goods and services exporters and investors are just some of the benefits achieved,' Minister Groser said./.