Kuala lumpur: Malaysia has identified three priority areas for enhanced cooperation with New Zealand, namely sustainability, digital transformation, and food security. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi emphasized New Zealand’s leadership in the green transition, noting that 87 percent of its electricity is generated from renewable sources.
According to BERNAMA News Agency, Ahmad Zahid highlighted that this aligns closely with Malaysia’s commitment to achieve net-zero emissions by 2050. Speaking at the ASEAN-New Zealand Business Council (ANZBC) Engagement, he elaborated on the potential for synergy between Malaysia’s MyDIGITAL agenda and New Zealand’s strengths in information and communications technology (ICT), particularly in areas such as artificial intelligence (AI), smart cities, cybersecurity, and digital trade governance.
In the agri-food sector, Ahmad Zahid, who is also the Halal Industry Development Council chairman, pointed out that New Zealand’s global reputation for quality and innovation complements Malaysia’s capabilities in halal certification and logistics. This presents significant potential for both economies as ASEAN’s middle class expands. He stressed the importance of inclusive economic growth by ensuring that micro, small, and medium enterprises (MSMEs) across ASEAN, including in Malaysia, are not left behind. Improving access to trade finance, digital tools, and capacity building is crucial, he stated.
Ahmad Zahid reiterated Malaysia’s commitment to enhancing its economic partnership with New Zealand, with a shared vision to boost bilateral trade by 50 percent by 2030. He described the collaboration between both countries as a ‘deep-rooted partnership’ that has evolved from early diplomatic ties to robust and multi-faceted economic cooperation. Bilateral trade between Malaysia and New Zealand in 2024 reached US$2.34 billion (RM10.72 billion), making Malaysia the second-largest ASEAN trading partner for New Zealand.
He added that agreements such as the Malaysia-New Zealand Free Trade Agreement, which allows 99.8 percent of New Zealand exports to enter Malaysia duty-free, and the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), which has boosted New Zealand’s exports to ASEAN by nearly 60 percent since 2010, must continue to be strengthened. Malaysia’s own utilization of AANZFTA benefits has more than doubled, rising from RM5.8 billion in 2016 to RM12.9 billion in 2023.
Ahmad Zahid noted that the recent upgrade to AANZFTA, along with the momentum generated by the Regional Comprehensive Economic Partnership (RCEP), has better positioned both nations to build a fair, modern, and sustainable trade architecture. He remarked that the event was more than just a business forum; it was a reflection of the deep ties nurtured over decades, from early diplomatic exchanges to strategic trade and investment.
The ANZBC engagement, held at the Park Hyatt Hotel Auckland and jointly organized by the High Commission of Malaysia, ANZBC, and New Zealand’s Ministry of Foreign Affairs and Trade, aimed to deepen bilateral economic ties, explore trade and investment opportunities, and strengthen business-to-business networks between ASEAN and New Zealand. Also present were ANZBC chairman Kathleen Morrison and New Zealand Trade and Enterprise market manager Ivy Huang, along with representatives from the New Zealand business and ASEAN communities.