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BUSINESS

WTO: Malaysia to urge for a reset of priorities for seamless trade flows - Azmin

09/06/2022 05:26 PM

KUALA LUMPUR, June 9 (Bernama) -- Malaysia will urge for a reset of priorities to ensure the World Trade Organisation (WTO) is effective in bringing about trade flows as smoothly and freely at the 12th WTO Ministerial Conference (MC12) in Geneva, said the Ministry of International Trade and Industry (MITI). 

Its Senior Minister Datuk Seri Mohamed Azmin Ali said while Malaysia is looking forward to the deliverables on WTO's response to the multifold issues and matters on the agenda, top on the list will be the challenges facing the multilateral trading system. 

He said this on his Twitter account ahead of his informal Ministerial meeting of the Indo-Pacific Economic Framework (IPEF) with 13 other partner countries before attending the WTO MC12 in Paris, France, the first conference in four years. 

"For IPEF, discussion will centre on the pillars among which trade will feature prominently," said Mohamed Azmin, adding the IPEF meeting will be chaired by the United States Trade Representative Ambassador Katherine Tai. 

He also noted that Malaysia believes that the time is indeed ripe to embark on a new paradigm of the 21st Century to ensure faster and fairer growth for economies in the region, fostering inclusivity and shared prosperity. 

Mohamed Azmin said, among others, he will articulate that rewriting of the new rules should enable framework partners to explore new opportunities and possibilities in enhancing competitiveness, economic resilience and regional prosperity, as well as facilitating vibrant and sustainable growth.

-- BERNAMA


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