말레이시아 투자통상산업부 장관 "아세안 국가간 무역 확장 필요"
Malaysia's top trade official has welcomed the resumption of free trade talks with South Korea while highlighting the importance of supporting small-and-medium sized businesses in the region.
Our correspondent Lee Soo-jin sat down with him.
On Monday, South Korea and Malaysia established a strategic partnership, pledging to strengthen cooperation on various areas including the economy, defense and green energy.
Malaysia's Minister of Investment, Trade and Industry was present when President Yoon Suk Yeol and Malaysian Prime Minister Anwar Ibrahim announced the agreement.
We talked to the minister about the economic aspects of the partnership.
"Next year we will celebrate 65 years of diplomatic relationships and therefore trade and investment is an integral part of that relationship we are glad that both parties have agreed to resume the Malaysia-Korea FTA. Unfortunately we had challenges and in 2019 it was stopped and like you said last year in March, we resumed it. And during the meeting between the two leaders on Monday, they both agreed that we must conclude this."
"So you mentioned there are also roadblocks, as there is to any FTA talks. What are some concerns that need to be addressed before we finalize the agreement?"
"Both countries have industries who are concerned about competition that may not be seen fair. I think we have explained to the relevant industries that actually it is not a zero sum game. We can agree between the two parties we open up more tariff lines or reduce tariffs because at the end of the day we feel that it's going to be a win-win."
And when asked about the regional economic challenges presented by the incoming Trump administration in the U.S., he said this:
"You're right again, people are watching closely when the U.S. now under Donald Trump So what do we do in ASEAN? One is, that's why we're going to focus more on intra-trade within ASEAN as well. ASEAN as a economic bloc is the 5th largest economic bloc, our population is around 680 million. But trade within ASEAN is only 20 to 23 percent. So in this case, so you need to include SMEs .
"I think what you said about intra-trade is very important. You also mentioned the role of SMEs. Why is the role of SMEs, Korean SMEs and as well as I'm guessing, Malaysian SMEs so important?"
"SMEs are important because even in the region like ASEAN and of course Korea, 90 percent of companies that are registered are SMEs. And if they're not felt, then even politically it's going to be difficult to support multilateral agreements or even bilateral agreements.
And under the theme of inclusivity and sustainability, he said next year’s ASEAN Summit, hosted by Malaysia, is expected to boost SME involvement and strengthen supply chain resilience across all Southeast Asia's economies.
Lee Soo-jin, Arirang News.
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2024-11-28, 17:00 (KST)
