Malaysia: Malaysia is urging the World Trade Organisation (WTO) to step up in its efforts in supporting developing and least-developed countries, while also undertaking reforms to remain relevant in the global trading system. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this was conveyed during his meeting with WTO director-general Dr Ngozi Okonjo-Iweala.
According to BERNAMA News Agency, Tengku Zafrul highlighted the need to address issues that have rendered the WTO less effective than in the past. He emphasized the necessity for courage in implementing changes at the WTO level. His remarks were made while attending the 31st APEC Trade Ministers' Meeting in Jeju, South Korea.
Tengku Zafrul stated that Malaysia is in favor of efforts to reform the WTO, which are anticipated to be discussed in greater detail at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. He underscored the significance of maintaining the principle of multilateralism in global trade, as opposed to unilateralism.
The minister further mentioned that Malaysia has a WTO ambassador who is actively engaged in ensuring that the organization remains relevant and continues to support all countries.