Mustapa: No trade embargo on North Korea

No trade embargo has been imposed on Malaysian companies keen on doing business with North Korean companies or in the country, despite the recent killing of Kim Jong-nam at KLIA 2, said International Trade and Industry Minister Mustapa Mohamed.

He said the government had no right to make any decision as it was entirely up to the private companies.

"Malaysia is not a state economy and (the trade with North Korea) is driven by the private sector.

"I believe there aren't many Malaysian private sector companies operating in North Korea.

"So, we leave it to them (Malaysian companies) to make their own assessment of risks and opportunities," he told a press conference after announcing Malaysia's Investment Performance in 2016 in Kuala Lumpur today.

Bilateral trade between Malaysia and North Korea declined to RM18 million last year, from RM22 million in 2015. Trade was mainly commodities.

Asked whether the Jong-nam case would have any impact on Malaysia-North Korea bilateral trade, Mustapa said the impact would not be significant. 

"Trade between Malaysia and North Korea is small, unlike with South Korea, which is big.

"There is hardly any investment from North Korea, so our economic ties with North Korea is very insignificant.

"From that point of view, it should not have any impact overall to Malaysia-North Korea economic relations," he said.

Jong-nam, the half-brother of North Korean leader Kim Jong-un, was killed by two women who splashed his face with a chemical at the KLIA 2 departure hall on Feb 13.

- Bernama