S. Korea resumes FTA talks with Malaysia

South Korea’s Ministry of Trade, Industry, and Energy has resumed negotiations for a bilateral free trade agreement (FTA) with Malaysia. The fourth round of talks started in Kuala Lumpur on Tuesday, the first session since September 2019.

The country has an existing FTA with the Association of Southeast Asian Nations (ASEAN), but is pursuing separate trade deals with individual member countries to strengthen economic ties. The FTA with Malaysia is a key part of this strategy.

During the four-day meeting, representatives from both countries will discuss a wide range of topics, including services, investment, and ways to enhance co-operation in the digital, green, and bio industries.

The ministry expressed optimism about the potential benefits of the FTA, stating, “South Korea is expected to strengthen its trade and investment ties with ASEAN by securing an FTA with Malaysia under a mutually beneficial trade system.”

Attribution: Yonhap News Agency

Subediting: Y.Yasser