South Korea-Malaysia FTA Negotiations In Final Phase, To Be Finalised In October - Tengku Zafrul

KUALA LUMPUR, May 15 (Bernama) – The Free Trade Agreement (FTA) negotiations between Malaysia and South Korea have now entered the final phase, to be finalised during the upcoming ASEAN Summit in October in Kuala Lumpur.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the negotiations have been progressing smoothly.

“The South Korean team is currently in Malaysia with our negotiating team. This is the final round before we meet again in June (at the ministerial level),” he told Bernama.

He said this was the result of his meeting with South Korea’s Trade, Industry and Energy Minister Inkyo Cheong, as part of efforts by both countries to resume FTA negotiations.

Malaysia and South Korea agreed to resume their FTA negotiations in March 2024 after a five-year hiatus.

“Everything is going smoothly. We are on track to finalise this agreement. It has been a long process, and South Korea needs to bring it to their National Assembly,” he said.

Given the current global geopolitical and geo-economic situation, Tengku Zafrul said the agreement is important as South Korea is one of Malaysia’s key trading partners and investors.

— BERNAMA