Korea, Malaysia agree to deepen partnership, begin free trade talks
Korea, Malaysia agree to deepen partnership, begin free trade talks
  • Korea IT Times
  • 승인 2010.12.15 09:45
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The President(left) and Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia, shake hands at a joint press conference on D
The President and Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia, held summit talks on December 10 in Putrajaya, the federal administrative centre of Malaysia. The President and Prime Minister Najib adopted a joint statement on strengthening bilateral relations between Seoul and Kuala Lumpur and held a joint press conference after the summit.

The two leaders agreed in the joint statement that bilateral ties between Korea and Malaysia have progressed to a new stage of partnership for co-prosperity. They also agreed to consider measures to deepen bilateral cooperation in trade and the economy, including a free trade pact.

Korea has already signed free trade agreement (FTA) with ASEAN member countries, which includes Malaysia, in 2006. Both leaders also shared a common understanding that nuclear energy can play an important role as safe and sustainable source of energy and agreed to cooperate for its peaceful use.

At a joint press conference after the summit, the President said that countries should regard nuclear energy development as a new energy source for humans to cope with climate change. After the summit, the President visited a nuclear energy promotion venue built in Kuala Lumpur by the Korea Nuclear Energy Promotion Agency.

Korea and Malaysia agreed to cooperate in order to penetrate markets in the Middle East and Central Asia in a variety of sectors, including green industries like bio and nuclear energy, IT, communication, transportation, and oil and gas.

Both leaders attended a signing ceremony for a memorandum of understanding (MOU) on joint cooperation in energy exploration and development projects in Russia, the Commonwealth of Independent States and Iraq.

Meanwhile, in an interview with leading Malaysian daily The Star, the President said Malaysia's vast bio energy sources and Korea's advanced green technology will be able to produce new business opportunities.

The President and Prime Minister Najib also agreed to establish a Korea-Malaysia business association to discuss partnership advancement between stage-funded corporations.

The two leaders also united to condemn North Korea's attack on the South Korean island of Yeonpyeong, stating that such action violates the UN Charter and poses a serious threat to the peace and stability of the Korean Peninsula.

They further agreed to work toward exchanges of minister-level government officials and upgrade defense cooperation between the two countries. Both leaders also agreed to make efforts to revitalize the tourism industry by expanding air routes and promoting tourist attractions to mark the 50 anniversary of the establishment of diplomatic relations between Korea and Malaysia. Prime Minister Najib agreed to visit Korea next year at the request of the President. The two leaders also signed MOUs in bio energy cooperation, science technology and legal assistance in criminal investigation and jurisdiction. The President flew back to Seoul on Dec. 11, after finishing his itinerary in Indonesia and Malaysia.

source: Cheongwadae

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