The Royal Malaysian Customs Department (RMCD) and the New Zealand Customs Service have signed a Mutual Recognition Agreement (MRA) to strengthen bilateral trade relations and facilitate export and import procedures between the two countries.
The agreement was signed yesterday by RMCD Director-General Dato Anis Rizana Mohd Zainudin and New Zealand Customs Chief Executive Christine Stevenson, during Anis Rizana's four-day official visit to the country.
Christine stated that the recognition reduces bureaucracy, saves costs and ensures that trade goods reach the market quickly and safely without compromising border security.
The MRA allows both parties to recognise the Authorised Economic Operator (AEO) programme, thus expediting and facilitating customs inspections for exporters who comply with international security standards.
The RMCD informed that the success of finalising the agreement, which began in 2021, shows the confidence and trust of both countries in their respective customs systems.
Previously, New Zealand signed a Free Trade Agreement (FTA) with Malaysia eliminating tariffs on 99.5% of the country's exports.
The total bilateral trade in goods between Malaysia and New Zealand is expected to reach $3.96 billion by 2024.
