S. Korea, Malaysia resume free trade talks after 5-year hiatus

The industry ministry said Tuesday that it has resumed negotiations with Malaysia to secure a bilateral free trade agreement as South Korea aims to broaden its trade portfolio. The fourth round of negotiations for the FTA kicked off in Kuala Lumpur for a four-day session, marking the first meeting since September 2019, according to the Ministry of Trade, Industry and Energy. South Korea already has an FTA with the Association of Southeast Asian Nations, but the country is seeking to deepen economic ties with individual members through separate free trade deals. During the meeting, the two countries will discuss a wide array of agendas, including services and investment. They will also explore ways to bolster exchanges in the digital, green and bio industries, the ministry added. "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," the ministry said. Source: Yonhap News Agency