(ECNS) -- Malaysian Prime Minister Anwar Ibrahim announced that Malaysia and Thailand have fully settled their long-running seafood export dispute, with the bilateral agreement set to take effect within seven days.
The announcement came at a joint press conference after Anwar held bilateral talks with visiting Thai Prime Minister Anutin Charnvirakul on Thursday.
The two leaders also agreed to push ahead with the development of a special economic zone along the Malaysia-Thailand border to deepen cross-border economic cooperation. The seafood conflict erupted in May this year.
Thai border authorities detected chemical and antibiotic residues in Malaysian sea bass shipments and ramped up strict inspections. Lengthy clearance delays caused the fish to spoil, triggering strong grievances among Malaysian seafood exporters.
Malaysia retaliated in early last month by halting imports of five varieties of Thai shrimp, cutting off a Malaysian market worth over US$10 million annually for Thai seafood suppliers.
Shrimp accounts for roughly one-fifth of Thailand’s total seafood exports, with the country shipping more than US$5 million worth of shrimp products to Malaysia in the first four months of this year.
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