Government talks trade with Malaysia

  • 17/04/2017
Trade Minister Todd McClay
Trade Minister Todd McClay

Trade Minister Todd McClay is set to meet with his Malaysian counterpart in a bid to talk-up New Zealand's tourism investment potential.

Malaysia is New Zealand's 10th biggest two-way trading partner and one of its fastest growing export markets, with Kiwi companies exporting about $1 billion worth of goods and services there in 2016.

Since the signing of the Malaysia-NZ Free Trade Agreement in 2010, two-way trade has grown by 57 percent, with tariffs on 99.5 percent of New Zealand goods to Malaysia eliminated as of January.

Mr McClay on Monday departs for talks with Malaysian Trade Minister Mustapa Mohamed and to pitch investment opportunities in New Zealand to the south-east Asian country's top executives.

"The Asia-Pacific is the fastest growing region in the world and this presents a huge number of opportunities for our farmers, growers, exporters and our wider economy," Mr McClay said.

"Malaysia is also a big investor around the world and I will be talking to key business people about opportunities for greater two-way investment, including in New Zealand's booming tourism, hotel and hospitality sectors."

The visit also marks 60 years of bilateral relations between the countries, which also have strong ties in defence and education.