Malaysia and New Zealand have inked a free trade agreement (FTA) after five years of negotiations, paving the way for the two countries to eliminate import taxes on industrial-agricultural products.
The agreement was signed by Malaysian Minister of International Trade and Industry Mustapa Mohamed and his New Zealand counterpart Tim Groser in Kuala Lumpur on October 26.
Addressing the signing ceremony, New Zealand Prime Minister John Key spoke highly of the signing of FTA, saying Malaysia is an important gateway for his country’s businesses and products to enter the region.
For his part, Malaysian PM Najib Razak also said the trade accord is a significant milestone in the two countries’ investment and trade ties.
The trade pact is Malaysia ’s third bilateral trade deal following agreements with Japan in 2005 and Pakistan in 2007./.