Malaysia, RoK hold 9th round of FTA negotiations

This file photo taken Sept. 4, 2019, shows the third round of negotiations for a free trade agreement between the Republic of Korea and Malaysia in Seoul. (Photo: Yonhap)

Seoul (VNA) – The ninth round of negotiations for a bilateral free trade agreement (FTA) between Malaysia and the Republic of Korea (RoK) is set to begin from May 13, according to the RoK's Ministry of Trade, Industry and Energy.

The latest round of talks for an FTA is scheduled to kick off in Kuala Lumpur for a three-day run, involving some 70 trade officials from the two countries.

The two countries are seeking to make progress in eight separate areas, including market access for goods and services, as well as economic cooperation, the ministry said.

Following a five-year hiatus, the two nations agreed to resume their FTA negotiations in March last year.

The RoK already has an FTA with the Association of Southeast Asian Nations (ASEAN), but it is seeking to forge separate free trade deals with individual members, including Malaysia.

Kwon Hye-jin, director general for FTA negotiations at the ministry, said a bilateral FTA with Malaysia, a promising market in the ASEAN region, will greatly help Korean companies boost their competitiveness in the global market and mitigate uncertainties amid growing risks sparked by US tariff measures and the spread of global trade protectionism.

Kwon added that the government will actively engage in discussions with Malaysia to conclude the FTA negotiations as soon as possible./.

VNA