The Malaysia-New Zealand Free Trade Agreement (MNZFTA) entered into force on 1 August 2010. A comprehensive agreement, the MNZFTA covers liberalisation of trade in goods, trade in services, investment and economic cooperation. It is Malaysia third bilateral FTA after Japan and Pakistan and extends Malaysia's FTA network to the Oceanic region.
MNZFTA marks another milestone in Malaysia - New Zealand economic relations and value-adds to the benefits shared from the ASEAN - Australia - New Zealand Free Trade Agreement (AANZFTA) implemented on 1 January 2010.
Under MNZFTA, Malaysia and New Zealand will progressively reduce or eliminate tariffs on respective industrial and agricultural products by 2016. Malaysian exporter will enjoy free duty on cocoa products, carpet, tyres, margarine, steel wire, iron products and wood furniture. Imports from New Zealand into Malaysia will enjoy zero or lower duties for paper, plastics, automotive components, veneer and chemical products. The professionals from both countries are also free to extend their services under the Agreement. The text of MNZFTA withs schedule of commitments on goods and services is available on MITI's website at www.miti.gov.my
- source from MITI