MSIA-KOREA TRADE TO DOUBLE IN FIVE YEARS

PUTRAJAYA, Dec 10 (Bernama) -- Bilateral trade between Malaysia and South
Korea is expected to double within five years from the current US$16 billion.

Prime Minister Najib Tun Razak said both countries had agreed to
encourage mutual investment, particularly by Korean companies which already
had a presence in Malaysia, to increase their level of re-investment.

He said Malaysia is ready to support and provide incentives to them for this
purpose.

"We believe that our bilateral relationship will get stronger as a result
of the visit by the President of the Republic of Korea, Lee Myung-bak," he said.

Najib was speaking at the joint press conference on the occasion of the
state visit of Lee Myung-bak here Friday.

"We have noticed a 34 per cent jump in terms of bilateral trade compared to
the same period last year. We believe it is possible, for the bilateral trade,
to double within the next five years," he said.

He also said both countries had agreed to look into the possibility of
having a separate Malaysia and South Korea Free Trade Agreement (FTA), to
complement the Asean-South Korea FTA, already in place.

"The Asean-South Korea FTA has given a strong impetus for trade investment
between Asean and South Korea. We believe, if there is a separate bilateral
FTA, it will certainly enhance bilateral relations," he added.

-- BERNAMA



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