Malaysia Eyes More New Zealand Investments

KUALA LUMPUR, Oct 27 (Bernama) -- Malaysia is looking to attract more investments from New Zealand (NZ) and expand its collaboration with the country in many areas, including information technology and tourism. Minister of International Trade and Industry, Mustapa Mohamed, said there were still potentials for trade to grow between both countries, especially in areas such as biotechnology and agri-technology. "We have signed the free trade agreement with NZ in 2010 and since then the relationship has been growing smoothly. “Beginning last year, we (Malaysia and NZ) have held discussions to review and improve the agreement, specifically involving new investments for both countries,” he told reporters after officiating the Discover Aotaroa New Zealand Festival here Thursday. The festival started Wednesday (Oct 25) and will end on Oct 29. He said Malaysia-NZ bilateral trade had grown by this year, registering about 50 per cent increase to-date compared to the same period last year, driven by close diplomatic ties between the two countries. Meanwhile, NZ’s High Commissioner to Malaysia, Dr John Subritzky, said the festival was a great way to celebrate the long-standing bilateral relationship by sharing unique NZ’s stories with Malaysians. “For the next few days, this festival will showcase New Zealand as a young, multi-cultural and innovative nation, as well as a great place for Malaysians to visit and study. “The key exhibits will further strengthen New Zealand's position as a provider of high-quality products and services in Malaysia,” he said. NZ’s Trade Commissioner to Malaysia, Matt Ritchie, said having such products in Malaysia would not only bring to light the increasing preference the Malaysian consumers have for New Zealand goods, but also the importance of Malaysia as trading partner. “Over the last 60 years, Malaysia has grown to become one of our fastest-growing export markets and is currently out ninth largest export market worth approximately NZ$1.17 billion (NZ$1 = RM2.91). The key exports to Malaysia include milk powder, butter and dairy spread, meat products and fruits and vegetables,” he said. -- BERNAMA