AUCKLAND, July 14 — Malaysia has identified three priority areas for enhanced cooperation with New Zealand: sustainability, digital transformation and food security.
Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said New Zealand, with 87 per cent of its electricity generated from renewable sources, is a leader in the green transition.
“This aligns closely with Malaysia’s commitment to achieve net-zero emissions by 2050,” he said at the Asean-New Zealand Business Council (ANZBC) engagement session today.
On digital transformation, Zahid said the potential for synergy between Malaysia’s MyDIGITAL agenda and New Zealand’s strengths in information and communications technology (ICT), particularly in areas like artificial intelligence (AI), smart cities, cybersecurity, and digital trade governance.
In the agri-food sector, Zahid, who is also the Halal Industry Development Council’s chairman, said New Zealand’s global reputation for quality and innovation aligns well with Malaysia’s capabilities in halal certification and logistics, presenting enormous potential for both economies as Asean’s middle class expands.
However, he stressed that economic growth must be inclusive by ensuring that micro, small, and medium enterprises (MSMEs) across Asean, including in Malaysia, are not left behind.
“That means improving access to trade finance, digital tools and capacity building,” Zahid said.
He reiterated Malaysia’s commitment to enhancing its economic partnership with New Zealand, with a shared vision to boost bilateral trade by 50 per cent by 2030.
The Deputy Prime Minister described the collaboration between the two countries as a “deep-rooted partnership” that has evolved from early diplomatic ties to robust and multifaceted economic cooperation.
Bilateral trade between Malaysia and New Zealand in 2024 reached US$2.34 billion (RM10.72 billion), making Malaysia New Zealand’s second-largest Asean trading partner.
“These numbers are not just statistics, they reflect confidence, connectivity and commitment between our economies,” Zahid said.
Moreover, agreements like the Malaysia-New Zealand Free Trade Agreement, which enables 99.8 per cent 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 per cent since 2010, must continue to be strengthened.
Malaysia’s own utilisation of AANZFTA benefits has more than doubled, rising from RM5.8 billion in 2016 to RM12.9 billion in 2023.
He said 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.
Noting that today’s event is more than just a business forum, Zahid said it reflects the deep ties that have been nurtured over decades, from early diplomatic exchanges to strategic trade and investment.
The ANZBC engagement, held at the Park Hyatt Hotel Auckland and jointly organised 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.
