Kuala Lumpur, Oct. 28 -- Malaysia and the Republic of Korea (RoK) signed a joint statement on the conclusion of talks on a bilateral free trade agreement (MKFTA) on October 27, on the sidelines of the 47th ASEAN Summit in Kuala Lumpur.
The MKFTA encompasses a wide range of areas, including trade in goods and services, investment, customs facilitation, digital trade, the green and bioeconomy, and economic cooperation. A key feature of the pact is its Economic Cooperation and Capacity Building Chapter, which Malaysia described as a "paramount" component that will drive sectoral development and strengthen industry capabilities.
Once the agreement takes effect, Malaysian exporters will enjoy long-term duty-free access for several key product ...