Malaysia, South Korea hold ninth round of FTA talks to accelerate trade deal
SEOUL, May 13 — South Korea and Malaysia are holding their ninth round of negotiations for a bilateral free trade agreement (FTA) on Tuesday, aimed at expanding trade ties and deepening economic cooperation, Yonhap news agency reported.
The latest round of discussions is taking place in Kuala Lumpur over three days and involves around 70 trade officials from both countries, according to Seoul's Ministry of Trade, Industry and Energy.
Talks are focused on eight key areas, including market access for goods and services, as well as broader economic collaboration.
Negotiations resumed in March 2024 after a five-year hiatus, as both sides seek to accelerate progress towards a comprehensive deal.
While South Korea already has a FTA with the Association of Southeast Asian Nations (Asean), it is pursuing bilateral FTAs with individual member states, including Malaysia, to better tailor trade strategies.
'A bilateral FTA with Malaysia, a promising market in the Asean region, will greatly support South Korean companies in boosting their global competitiveness and cushioning against growing uncertainties caused by US tariff actions and rising global protectionism,' said Kwon Hye Jin, Director-General for FTA Negotiations at the ministry.
'The government will continue to actively engage with Malaysia to conclude the FTA negotiations at the earliest opportunity,' she added. — Bernama-Yonhap
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