New Zealand-Malaysia Free Trade Agreement

Country / jurisdiction: New Zealand · Year: 2010 · Status: In force · Level: National · Type: Voluntary

The New Zealand-Malaysia Free Trade Agreement aims at fostering closer economic relations by reducing or removing trade and investment barriers. The Agreement builds on the existing ASEAN-Australia-New Zealand Free Trade Agreement. Most notably, the Agreement accelerated the tariff reduction/elimination schedule from 12 years (per the AANZFTA) to 7 years. It also provide improved investment protection provisions, including Most Favoured Nation (MFN) treatment.

The Agreement eliminates or reduces border tariffs on:

Electric generation equipment

Mechanical equipment including pumps, appliances and other advanced machinery

Electric motors, transformers, batteries and capacitors

Motor vehicles and vehicle parts (except for motor vehicle imports into Myanmar and Vietnam)

Mineral ore and processed products including graphite, manganese, copper, aluminium and nickel

Various products manufactured using the above minerals and metals such as sheets, powders, bars, and plates

Photovoltaic cells

The Agreement also includes rules of origin and local content provisions. Goods are considered as originating from a signatory country, and thus benefitting from preferential tariff treatment if:

they are wholly produced or obtained in the country

they qualify for a change in HS code as defined for each good

they meet minimum regional value content requirements e.g. within 10% of  FOB value or total weight of the good.

Official source: https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-in-force/nz-malaysia-free-trade-agreement/