“The total amount of Malaysia’s imports from North Korea is only RM8.2 million while our exports are valued at RM10.7 million.
“The amount is too small and insignificant,” he said in the Dewan Rakyat today.
Ahmad was responding to Charles Santiago (DAP-Klang), who asked about the Regional Comprehensive Economic Partnership (RCEP) and its benefits to the Malaysian economy.
RCEP is an Asean trading partnership between the 10 Asean member states and those countries which have existing free trade agreements with the grouping – Australia, China, India, Japan, South Korea and New Zealand.
Ahmad said in comparison, Malaysia’s trade with RCEP was valued at RM1.49 trillion.
“Due to the small value of trade, what is going on between Malaysia and North Korea will not affect our trading position in Asean.”
North Korea and Malaysia established diplomatic ties in 1973 but it was not until the early part of the last decade that both countries firmed up the relationship with the opening of full-fledged diplomatic missions.
In 2000, the Malaysian government allowed visa-free entry for North Koreans. North Korea returned the gesture nine years later.
Although ties between the two countries have soured since the murder of Kim Jong Nam, the half-brother of North Korean leader Kim Jong Un, Prime Minister Najib Razak yesterday insisted that diplomatic ties with North Korea had not been severed.