Malaysia and South Korea have pledged to double trade between the two countries within five years, hoping to create a separate Free Trade Agreement on top of South Korea’s existing 2007 deal with ASEAN.

Malaysian Prime Minister Najib Razak announced the plans after meeting with South Korean President Lee Myung-Bak in Kuala Lumpur on Friday, saying the South Korea-ASEAN agreement gave them a “strong impetus” to explore new possibilities. Trade between the two countries is projected to reach US$16 billion this year. Malaysia and South Korea could leverage each others’ strengths, not only in bilateral trade but also by working as partners to invest in third countries, according to both leaders.

source & article: Straits Times

video of PM Najib Razak’s announcement: YouTube