KUALA LUMPUR, March 6 -- Malaysia is looking to increase the number of free trade agreements (FTA) that it has as they play a significant role in Malaysia's economy, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.

The minister, who part of an official delegation to Australia for a special summit with Asean countries, told business news channel CNBC that FTAs were important for countries like Malaysia which did not have a very open economy.

"We have seen how it has contributed positively to the increase in trade. So it is important but what's also important from what we have seen today, is we need to increase the number especially within Asean itself," he said during the exclusive interview.

He said the...