Malaysia may sign free trade pact with S. Korea

16:55, December 10, 2010      

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Malaysia is mulling over the possibility of signing a free trade agreement (FTA) with South Korea after witnessing the success of the ASEAN-South Korea FTA.

Malaysian Prime Minister Najib Razak made the remarks in Malaysia's federal administration center here on Friday. Also present was the visiting South Korean President Lee Myung-bak.

Najib, also Malaysian finance minister, said that Malaysia was determined to expand its bilateral trade with South Korea, which saw a 34 percent jump this year from the same period last year.

Malaysia's two-way trade with South Korea amounted to 36.75 billion ringgit (about 11.85 billion U.S. dollars) last year.

The amount is expected to exceed 16 billion U.S. dollars this year.

Najib said the Malaysia-South Korea FTA could boost economic ties between the two countries and double the trade figure in 2011.

The ASEAN-South Korea FTA was signed in June 2009 to boost investments between the two parties.


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(Editor:燕勐)

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