Kuala Lumpur: South Korean President Lee Jae Myung held summit talks with Malaysian Prime Minister Anwar Ibrahim on Monday, with the two nations clinching a bilateral free trade deal, the presidential office said.
Lee and the Malaysian Prime Minister welcomed the conclusion of the free trade talks during their summit, expressing hope the trade deal will further expand bilateral economic ties, presidential spokesperson Kang Yu-jung said in a written briefing, Yonhap News Agency reported.
“The two leaders expressed expectations that bilateral trade and investment will further expand as key economic partners in the region, while cooperation will accelerate in strategic industries, such as digital technology and artificial intelligence,” Kang said.
During the talks, Anwar described South Korea as a “reliable partner” in Malaysia’s efforts to strengthen its defence capabilities, welcoming the signing of a memorandum of understanding on defence industry cooperation between the two governments, Kang noted.
The two leaders also acknowledged strong growth potential for cooperation in future-oriented sectors, including smart infrastructure and energy transition, and agreed to further broaden bilateral collaboration in those areas.
Lee requested Malaysia’s support for Seoul’s peace efforts on the Korean Peninsula, and Anwar Ibrahim expressed backing for the Lee administration’s North Korea policy, saying Malaysia will work together with the Association of Southeast Asian Nations and the international community, according to Kang.
Meanwhile, South Korea and Malaysia on Monday signed an agreement aimed at strengthening their arms industry cooperation as part of efforts to elevate their comprehensive strategic partnership in the defence sector, Seoul’s state arms procurement agency said.
Seok Jong-gun, minister of the Defence Acquisition Program Administration (DAPA), and Malaysian defence chief Mohamed Khaled Nordin signed the memorandum of understanding (MOU) on the occasion of the Association of Southeast Asian Nations (ASEAN) summit in Kuala Lumpur, DAPA said.
Under the MOU, the two countries will seek to not only enhance cooperation for arms procurement but work together on the research and development of defence technologies and joint production of materiel, the agency added.
“Going beyond exports of weapons systems, (South Korea) will contribute to strengthening Malaysia’s defence capabilities and advancing its arms industry as a ‘genuine partner,’ as well as work for regional peace and stability in Southeast Asia,” Seok was quoted as saying.
(IANS)
