McClay seeks Malaysian investment in NZ tourism

Trade Minister Todd McClay is promoting New Zealand’s tourism investment potential in his visit to Malaysia.

Todd McClay

The minister is meeting his Malaysian counterpart, Mustapa Mohamed, to discuss trade and investment opportunities and to mark  60 years of successful bilateral relations between the two countries.

Malaysia is New Zealand’s 10th largest two-way trading partner, with exports to the country valued at more than $1bn dollars last year.

“We have made a lot of progress in 60 years, particularly since a free trade agreement (FTA) was signed between our two countries in 2010,” said McClay.

”Malaysia is also a big investor around the world and I will be talking to key business people about opportunities for greater two-way investment, including in New Zealand’s booming tourism, hotel and hospitality sectors.”

Trade between the countries had grown by 57% since the signing of the FTA with tariffs on 99.5% of New Zealand goods to Malaysia eliminated.

“The Asia-Pacific is the fastest growing region in the world and this presents a huge number of opportunities for our farmers, growers, exporters and our wider economy,” said McClay.

The minister is scheduled to speak at a business forum before 150 Malaysian investors and business executives.

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