South Korea and Malaysia will officially launch negotiations for a bilateral free trade agreement(FTA) in Kuala Lumpur on Thursday. 

According to the Trade Ministry on Wednesday, the two countries declared late last month their intent to initiate FTA talks and conclude a deal by November this year.

During the upcoming talks, the two sides will set the scope and agenda of their negotiations and discuss ways to boost economic cooperation.  

The two countries are aiming to produce outcomes that exceed the achievements of the FTA signed between South Korea and the Association of Southeast Asian Nations(ASEAN).

Malaysia is South Korea’s fourth-largest trading partner among ASEAN member states, with their two-way trade reaching 19-point-two billion U.S. dollars last year.