Malaysia seeks to boost trade potential with S. Korea

By Zehra Nur Duz

ANKARA (AA) – Malaysia is committed to boost trade potential with South Korea, a national trade promotion agency reiterated in the wake of an ASEAN summit.

Malaysia External Trade Development Corporation (MATRADE) aims to improve economic relations with South Korea in industries of high-value and high technology, the local news agency, Bernama, reported on Tuesday.

The Malaysian media cited various potential sectors, including transportation, electrical vehicle, high-speed rail and train, halal, chemicals and financing.

The announcement came in the wake of the 2019 ASEAN-Republic of Korea (ROK) Commemorative Summit in Busan last month, which Malaysia participated in.

The agency determined these potential sectors, including transportation, electrical vehicle, high-speed rail and train, halal, chemicals and financing during its participation in 2019 ASEAN-Republic of Korea Commemorative Summit held in Busan, the agency said.

“Seeing the positive response given to Malaysia, MATRADE Seoul will strengthen our engagements with South Korea’s businesses and match them with capable Malaysian companies in our database,” Bernama quoted Norharliza Yunos, MATRADE trade commissioner in South Korea, as saying.

Malaysia’s national trade promotion agency stressed Tuesday its commitment to develop trade potential between Malaysia and South Korea.

Stressing Malaysia’s “pro-business environment” and “Malaysian companies’ capabilities to supply the world”, Yunos added that South Korea was Malaysia eight largest trading partner in 2018, and is currently one of Malaysia’s key markets.