Yoo Myung-hee Requests Expansion of Essential Business Travel and Operations Permits in Malaysia

Virtual Meeting with Malaysian Minister of International Trade and Industry on the 20th
Discussion on Essential Business Travel to Minimize COVID-19 Impact

Yoo Myung-hee, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chae-seok] The government requested Malaysia to expand permits for the movement and operation of essential business personnel in response to the novel coronavirus disease (COVID-19).

On the 20th, Yoo Myung-hee, the head of trade negotiations at the Ministry of Trade, Industry and Energy, held a video conference with Mohamed Azmin Ali, the newly appointed Minister of International Trade and Industry of Malaysia, to discuss these matters.

Malaysia is the third largest trading partner within ASEAN with trade worth $18.1 billion with Korea. About 500 Korean companies have established operations there.

Head Yoo emphasized the need to minimize economic damage as the COVID-19 situation is expected to prolong.

He mentioned that it is urgent to seek intergovernmental cooperation measures to allow the maintenance of global supply chains and the movement of essential personnel such as businesspeople, within the scope that does not undermine each country's quarantine measures.

Since Malaysia is the APEC chair country this year, both sides agreed to closely cooperate to promote the movement of essential personnel including businesspeople and to expand cooperation for smooth logistics within the region to overcome COVID-19.

Head Yoo conveyed that Korean companies on site are experiencing difficulties such as production schedule disruptions due to suspension or reduction of operations, difficulties in procuring raw materials, and worsening cash flow.

Malaysia is implementing a strict Movement Control Order until the 28th. Government agencies and privately owned businesses except for essential goods and services are closed, and only companies authorized by the Ministry of International Trade and Industry can operate at minimal levels.

Head Yoo requested expanding the scope of operation permits and supporting companies reducing operations to balance quarantine and minimizing economic damage, as the Movement Control Order has been extended until the 28th.

Both countries reaffirmed their intention to sign the Regional Comprehensive Economic Partnership (RCEP) within this year without delay and agreed to discuss ways to advance negotiations at the 29th official RCEP negotiation video conference to be held soon.

This content was produced with the assistance of AI translation services.