Indonesia's KRAS to construct blast furnace in 3Q

 The Malaysian International Trade and Industry Ministry ( MITI ) said that in order to expand trade and investment between Malaysia and South Korea, the two countries would consider a possible bilateral Free Trade Agreement (FTA). The ministry added that following talks between both sides,leaders to find ways in order to strengthen bilateral ties, the two countries approved to carry out separate studies on the possibility of starting FTA negotiations.
 MITI also said that both countries would develop concrete recommendations for the possible initiation of negotiations for a joint FTA, adding that over the past year, leaders of both countries met each other repeatedly so that they would identify the implications of the establishment of a FTA and evaluate the economic benefits that might come up.
 It is worth noting that in 2010, South Korea was Malaysia's 13th largest trading partner, exporting electrical materials, medical parts, iron and steel while importing mineral fuels, electrical products and mechanical appliances from Malaysia. Its trade with Malaysia last year increased by 31.6% reaching US$15.65 compared with 2009.