New Zealand has set an ambitious goal to double its exports to the ASEAN and Indo-Pacific regions within the next decade, as outlined by Prime Minister Christopher Luxon in a recent interview with Nikkei Asia. Prime Minister Luxon emphasized that his government is committed to significantly increasing the value of exports, particularly by strengthening trade relations with the 10-country Association of Southeast Asian Nations (ASEAN) and the broader Indo-Pacific region. Currently, over 80% of New Zealand’s export goods and services are connected to this region.
During his official visit to Malaysia, Luxon highlighted the importance of enhancing the relationship with ASEAN, especially as Malaysia prepares to take the leadership role in the organization next year. New Zealand is aiming to upgrade its partnership with ASEAN to a Comprehensive Strategic Partnership, coinciding with the 50th anniversary of their collaboration.
The discussions between Luxon and Malaysian Prime Minister Anwar Ibrahim focused on deepening trade ties, particularly in emerging sectors such as renewable energy and the green economy. In 2023, Malaysia ranked as New Zealand’s second-largest trading partner within ASEAN, with bilateral trade valued at approximately $2.54 billion. Both nations are working towards increasing this figure by 50% by 2030, supported by ongoing efforts to reduce trade barriers.
New Zealand’s foreign policy is increasingly focused on the Indo-Pacific region, with Luxon underlining the interconnectedness of economic growth, peace, stability, and security. He also highlighted the importance of multilateral trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) in advancing New Zealand’s economic interests.
Luxon reaffirmed New Zealand’s role as a proponent of free trade and its active participation in international trade agreements, which are seen as vital platforms for addressing modern economic challenges.
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