This photo shows the third round of negotiations for a free trade agreement between Korea and Malaysia in Seoul, provided by the Ministry of Trade, Industry and Energy, Sept. 4, 2019. Yonhap
Korea and Malaysia plan to hold their seventh round of negotiations for a bilateral free trade agreement (FTA) Monday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's industry ministry said.
The latest round of talks for an FTA was scheduled to kick off Monday for four days in Kuala Lumpur, according to the Ministry of Trade, Industry and Energy.
The two sides plan to focus on making progress in negotiations across 11 sectors, including goods, services, investment and economic cooperation, the ministry added.
Following a five-year hiatus, the two nations agreed to resume talks on a free trade deal in March 2024.
Korea 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.
"We will work to swiftly strike an FTA with Malaysia, one of our major partners in the ASEAN region, as the significance of free trade deals is growing amid the fast-changing global trade environment from the expansion of protectionism," said Kwon Hye-jin, director general for FTA negotiations at the ministry. (Yonhap)
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