MITI aims 50 pct increase in bilateral trade with New Zealand - Tengku Zafrul

KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) aims to increase bilateral trade with New Zealand by 50 per cent, with an estimated value of RM25.67 billion by 2030.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia values trading partners like New Zealand, especially in an uncertain global economy.

He said that cooperation between Malaysia and New Zealand has been established for a long time, further strengthened by the status of "strategic partnership" since 2023 and the visit of the New Zealand Prime Minister last year.

"To achieve the 50 per cent target, Malaysia is ready to work closely with New Zealand to explore new opportunities, especially in the high-value manufacturing sector, digital economy and renewable energy.

"These sectors are in line with our focus in the New Industrial Master Plan," he said in a post on his Instagram page on Wednesday, after receiving a visit from New Zealand Ambassador to Malaysia Michael Wehi Mailetonga Walsh.

Tengku Zafrul said close cooperation in innovation and technology has the potential to propel Malaysia's trade to greater heights.

-- BERNAMA