Australia, KL to push for FTA talks

Australia, KL to push for FTA talks

SYDNEY, Australia: Australia's trade minister will discuss a proposed free trade deal with Malaysia when he holds talks with senior ministers in Kuala Lumpur this week, he said on Wednesday.

"The meeting will provide a timely opportunity to reiterate the importance of a comprehensive and liberalizing agreement that delivers real benefits to the business communities of both countries," Vaile said in a statement.

Relations between Australia and Malaysia - often chilly under former Prime Minister Mahathir Mohamad who regarded Australia as too Western to be considered part of the Asian region - have improved since Mahathir's retirement.

In Southeast Asia, Australia already has free trade deals with Thailand and Singapore and is discussing a similar pact with China.

Malaysia is Australia's 9th largest trading partner with two- way merchandise trade valued at A$8.5 billion (US$6.4 billion) last year, an increase of 23 percent from the previous year, Vaile said.-- AP