KUALA LUMPUR, June 28 (Bernama) — The Ministry of International Trade and Industry (MITI) is pleased to announce the initiation of Malaysia and Republic of Korea (Malaysia-Korea Free Trade Agreement – MKFTA) which has been agreed by MITI Minister, YB Datuk Darell Leiking and HE Yoo Myung-hee, Trade Minister, Ministry of Trade, Industry and Energy (MOTIE).
The discussion to explore the bilateral trade agreement was initiated when YAB Tun Dr. Mahathir Mohamed, Prime Minister of Malaysia met HE Moon, Jae-in, President of Republic of Korea in March 2019. During the meeting, both leaders recognise the significance of the enhanced economic cooperation and partnership between the two countries for mutual long-term prosperity.