Seoul: Malaysia and South Korea recorded total trade of US$10.80 billion about (US$1=RM4.30) from January to August this year.
Malaysian Ambassador to South Korea Rohan Ramli said the Look East Policy was effective to boost bilateral ties and cooperation with South Korea, according to the Malaysian (Bernama) News Agency.
"I think we need to be aggressive in undertaking trade and investment missions to South Korea to increase the confidence of the Korean entrepreneurs, especially in boosting economic cooperation.
"The total (US$10.8 billion) has made Malaysia the 12th biggest trade partner of South Korea and the latter the 10th biggest investor in the manufacturing industry in Malaysia," she said.
"Last year trade amounted to US$18.68 billion. I believe this amount will increase based on the positive trends in the country's economy," Malaysian Ambassador said.
She added that Malaysia's main exports to South Korea were liquefied natural gas, oil, electrical and electronic products while the main imports were machinery, oil products and electrical and electronic goods.
For the first six months of this year, she said, Malaysia approved six South Korean projects worth US$60.9 million.
On tourism, for January to April this year, tourists arrivals from South Korea rose by 12.1% to 149,951 from 133,753 a year ago.
QNA
