South Korea and Malaysia Resume Free Trade Agreement Negotiations

SEOUL: South Korea has initiated the fifth round of negotiations with Malaysia to establish a bilateral free trade agreement, as part of its strategy to diversify its trade relationships. The talks, which commenced in Seoul, are set to last four days and mark a continuation of discussions that resumed in August following a five-year pause. According to Yonhap News Agency, the Ministry of Trade, Industry and Energy announced that this latest round of negotiations aims to advance discussions across 13 sectors. These include goods, services, investment, economic cooperation, and the digital industry. While South Korea already maintains a free trade agreement with the Association of Southeast Asian Nations (ASEAN), it seeks to fortify economic ties with individual ASEAN member countries through separate agreements. The ministry further stated that both South Korea and Malaysia are committed to accelerating negotiations in each sector and resolving any outstanding differences. This renewed effort underscores Sou th Korea's intent to enhance its trade portfolio by establishing closer economic partnerships with ASEAN countries on a bilateral basis.