Latest news with #31stAPECTradeMinisters'Meeting
New Straits Times
15-05-2025
- Business
- New Straits Times
Malaysia calls for WTO reforms to remain relevant
KUALA LUMPUR: 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. "We need to look into the issues that have made the WTO less effective than it used to be, and we must have the courage to implement changes at the WTO level," he told Bernama while attending the 31st APEC Trade Ministers' Meeting in Jeju, South Korea. He said Malaysia welcomed efforts to reform the WTO, which are expected to be discussed in greater detail at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. During the meeting, Tengku Zafrul also emphasised the importance of upholding the principle of multilateralism in global trade, rather than unilateralism. "We have a WTO ambassador who is part of the team working to ensure the organisation remains relevant and continues to support all countries," he added.
The Sun
15-05-2025
- Business
- The Sun
Malaysia calls for WTO reforms to remain relevant
KUALA LUMPUR: 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. 'We need to look into the issues that have made the WTO less effective than it used to be, and we must have the courage to implement changes at the WTO level,' he told Bernama while attending the 31st APEC Trade Ministers' Meeting in Jeju, South Korea. He said Malaysia welcomed efforts to reform the WTO, which are expected to be discussed in greater detail at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. During the meeting, Tengku Zafrul also emphasised the importance of upholding the principle of multilateralism in global trade, rather than unilateralism. 'We have a WTO ambassador who is part of the team working to ensure the organisation remains relevant and continues to support all countries,' he added.
