Malaysia and South Korea to explore free trade deal

Fri, 10 Dec 2010

Kuala Lumpur - Malaysia and South Korea on Friday agreed to explore inking a free trade agreement in the hope of doubling trade over the next five years.

Malaysian Prime Minister Najib Razak and visiting South Korean President Lee Myung Bak said they wanted to explore ways to enhance trade ties.

Lee, who arrived in Kuala Lumpur late Thursday, is on a three-day visit aimed at boosting bilateral ties and commemorating 50 years of relations between the two countries.

Najib said two-way trade rose by 34 per cent this year and was expected to exceed 16 billion dollars. He added that both leaders were keen to strengthen bilateral trade relations that would complement a trade pact between South Korea and the 10-member Association of South-East Asian Nations, of which Malaysia is a member.

"I believe bilateral trade can double within the next five years," Najib said at a joint news conference.

Lee asked Malaysia to study South Korea's use of nuclear power.

"I invite the prime minister himself to see how safe and reliable nuclear technology is," Lee said.

The leaders condemned North Korea's attack last month on South Korea's Yeonpyeong island, which killed four people, as an "unprovoked act of hostilities."

They urged North Korea to abandon all nuclear weapons and all existing nuclear programs.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/news/357492,explore-free-trade-deal.html.