Malaysia and New Zealand are embarking on a transformative economic initiative to increase bilateral trade by 50% by 2030. This ambitious target is set to be achieved through a comprehensive review of their current Free Trade Agreement and the removal of non-tariff barriers that affect trade efficiency.
During a recent joint press conference, leaders from both nations outlined their vision for strengthening economic ties. Key to this plan is the implementation of advanced e-certification and streamlined customs processes to facilitate smoother trade flows.
Beyond trade, the countries will also enhance their defense collaboration, including joint exercises and shared resources to bolster security.
A meeting of trade ministers is scheduled for next year to detail the strategies for reaching this 50% trade increase, underscoring the commitment to a strong and expanding economic partnership.
This strategic effort highlights the dedication of both nations to broadening their economic opportunities and fostering a robust trade relationship.
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