Malaysia, NZ To Conduct Scoping Exercise Prior To FTA Review

KUALA LUMPUR, Sept 2 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim and New Zealand Prime Minister Christopher Luxon tasked officials to conduct a scoping exercise before launching a review of the Malaysia-New Zealand Free Trade Agreement (MNZFTA).

The exercise would also involve identifying new areas and gaps that could be addressed under the review to enhance bilateral economic relations. 

“Trade Ministers will meet next year to co-chair a joint commission to progress recommendations for refreshing the MNZFTA,” said Anwar and Luxon in a joint statement concerning the New Zealand prime minister’s official visit to Malaysia. 

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Luxon arrived in Malaysia on Sept 1 for a three-day official visit, and this is his first visit to Malaysia since taking office as prime minister in November 2023.

Both leaders also welcomed the upgrade of the Asean Australia New Zealand Free Trade Area (AANZFTA) and the successful implementation of the Regional Comprehensive Economic Partnership (RCEP). 

The statement said the two leaders acknowledged the strong collaboration between Malaysia and New Zealand through the Asia-Pacific Economic Cooperation in advancing the Putrajaya Vision 2040, including through the implementation of the Aotearoa Plan of Action, aimed at fostering an open, dynamic, resilient and peaceful Asia-Pacific community by 2040. 

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It added that New Zealand and Malaysia would work together on the General Review of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to update and enhance the agreement to ensure that the CPTPP remains the gold standard for trade agreements.

The prime ministers noted the substantial outcomes from the Indo-Pacific Economic Framework for Prosperity (IPEF), which has concluded agreements to bolster supply chain resiliency, accelerate the transition to a clean economy, and strengthen anti-corruption and tax measures. 

“Malaysia and New Zealand look forward to working together and alongside the other IPEF partners on implementation to boost trade and investment and promote inclusiveness, resiliency, and transparency across the region,” they said.

Anwar and Luxon said both countries welcomed the pilot implementation of electronic certification for trade in both directions and tasked officials to continue interagency work to further increase market access for each other’s products and maintain compliance and reduce transaction costs for exporters from both countries. 

Both leaders looked forward to having the relevant agencies on both sides work towards the conclusion of the draft Export Plan for Fresh Fruit and Vegetables from Malaysia to New Zealand, specifically for the export of Malaysian Pineapples to New Zealand.

“The other matters to be concluded are a dairy implementing arrangement to provide recognition of food safety system equivalence for dairy products, an upgraded halal implementing arrangement, as well as an electronic certification implementing arrangement,” they added.

-- BERNAMA