Wednesday, February 10, 2010

October 26, 2009 21:47 PM

Trade Between New Zealand And Malaysia Expected To Soar Next Year

KUALA LUMPUR, Oct 26 (Bernama) -- Prime Minister Datuk Seri Najib Tun Razak said the trade figure between New Zealand and Malaysia will increase further next year following the signing of their free trade agreement (FTA) Monday.

"This year of course the trade number is going down as expected, but we are very confident that the figure will increase significantly next year," he said after the Free Trade agreement signing ceremony between Malaysia and New Zealand here.

Bilateral trade between the two countries increased by 46.2 percent to US$1.9 billion last year from US$1.3 billion in 2007.

The FTA agreement was signed by the Minister of International Trade and Industry Datuk Mustapa Mohamed for Malaysia, while New Zealand's Minister of Trade Tim Groser signed on behalf of his country. The signing was witnessed by Najib and New Zealand Prime Minister John Key.

Najib said the signing of the agreement signified a great political desire to bring the long standing relationship between the two countries to a higher level.

"I hope the private sectors from both sides will really look at the advantage of the greater access. Not only Malaysian investors can tap into New Zealand's market but New Zealand investors (can) look at Malaysia's market and beyond like Asean."

He also urged New Zealand business community to consider Malaysia as a spring board to tap into Asean huge market of about 580 million people.

The relationship in other areas such as tourism has been also very strong as more than 50,000 New Zealanders visit Malaysia annually and the number is still growing.

"It is not just about greater access to market and I think both sides can really find greater opportunities.

"It is clear for us that the future is very bright for us, a future that brings us closer together and for us to share greater prosperity, peace, stability and promises of betters days," he said.

-- BERNAMA

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