Malaysia's total trade with New Zealand is expected to increase 10% by 2020 following the long-standing business relationship between both countries.

    Last year, Malaysia's total trade with New Zealand stood at RM5.46 billion, with exports amounted to RM2.82 billion and imports valued at RM2.63 billion, according to Malaysia's Ministry of International Trade and Industry (MITI).

    Deputy International Trade and Industry Minister Ahmad Maslan said this year marked the 60th anniversary of diplomatic relations between New Zealand and Malaysia, encompassing trade, education, security and defence, and tourism, according to (Bernama) news agency.

    He said the close relations culminated in the signing of the Malaysia-New Zealand Free-Trade Agreement (FTA) on Oct 26, 2009 in the capital. Since the signing of the FTA, the two-way trade has increased by 57%.