Patrick Maloney
This has been blowing up the Google Alerts yesterday and today... Malaysia and New Zealand have signed a new free trade agreement after four years of talks, expecting to shoot bilateral trade up to 1.8 billion dollars between the two countries. The agreement specifically, by next year, will begin to progressively eliminate the import taxes on New Zealand's products and the import levy's on Malaysian products, ending the process by 2016. This is the third such trade agreement by Malaysia, the first with Japan in 05 and Pakistan in 07. This is a milestone in Malaysian foreign policy, seeing how they have been hesitant to open up their rice markets and increase in state contracts.
http://www.bloomberg.com/apps/news?pid=20601081&sid=a7oc5XYeIUnk
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One more thing, Malaysia has held out taxes on imports such as tobacco, liquor, and rice, along with 86 other product because they have been deemed "sensitive" to Malaysia's way of life.
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