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S Korea, Malaysia to look into feasibility of FTA

05-06-2011 16:19 BJT

SEOUL, May 6 (Xinhua) -- South Korea and Malaysia are set to launch a one-year joint study on feasibility of a bilateral free trade agreement (FTA), the foreign ministry said Friday.

The two countries agreed in January to conduct the feasibility study after the leaders agreed in a summit last year to substantially expand bilateral economic ties, according to the ministry.

South Korea already has a similar trade accord with the Association of Southeast Asian Nations (ASEAN), of which Malaysia is a member. Malaysia is South Korea's third biggest trade partner among ASEAN member states and the 13th in the world.

Trade volume between two countries soared 25.5 percent to 15.6 billion U.S. dollars in 2010, compared with the volume recorded in 2006 prior to the trade agreement.

Editor:Yang Jie |Source: Xinhua

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