Trade Remains Key Driver Of Development - Mohamad Hasan
From Mohd Khairi Idham Amran
NEW DELHI, May 15 (Bernama) -- Malaysia believes that trade remains a key driver of development and increasing South-South trade should be further harnessed, Foreign Minister Datuk Seri Mohamad Hasan said.
“Efforts must be made to integrate developing nations into global value chains and promote long-term sustainable growth,” he said at the BRICS Partners’ Foreign Ministers’ Meeting 2026 here today.
The current global environment, marked by protectionism and industrial policy, underscores the need for a flexible and fair global trading system, he said.
”A system that is grounded in internationally agreed and enforceable rules, including those under the World Trade Organisation (WTO),” he said.
The minister said mounting global challenges had exposed the limitations of the existing international system, which he described as no longer sufficient or sustainable.
Therefore, he said urgent reforms are needed to strengthen the multilateral system, and global institutions must become more inclusive, equitable and trustworthy in addressing current economic and geopolitical challenges.
He also said reform should not be viewed as abandoning multilateralism but rather as an effort to improve it through collective action and stronger cooperation.
“Reform is not about dismantling what we have or walking away from multilateralism. It is about making it work better with urgency and wisdom,” he said.
Mohamad said Malaysia believed that meaningful reform must be guided by three fundamental principles, namely inclusivity, equity and trust.
Explaining further, he said inclusivity means every nation must have a seat at the table, equity means the benefits of globalisation must be shared more fairly, and trust refers to respect for rules and the upholding of commitments.
Without these principles, no international system can maintain legitimacy.
Nevertheless, Mohamad said he is confident that meaningful change could be achieved through clarity of purpose and political will, albeit the road ahead would be challenging.
“Though the path ahead is arduous, change is possible, especially when there is clarity of purpose and a willingness to act. This is where BRICS can make a difference, not as an alternative, but as a catalyst for meaningful reform,” he said.
He said Malaysia is ready to work closely with all partners, particularly through the BRICS platform, to strengthen a resilient and sustainable multilateral system that benefits all nations.
The meeting brings together ministers and representatives of BRICS member countries and partners to discuss global geopolitical developments, economic cooperation and issues involving countries of the Global South.
-- BERNAMA