Malaysia said it remains committed to a more equitable and sustainable global trade network, despite the missed opportunity for all members to achieve consensus on few major issues during the World Trade Organisation (WTO) Thirteenth Ministerial Conference (MC13) in Abu Dhabi, United Arab Emirates.
Trade ministers, policymakers and trade experts from around the world gathered at the MC13 in Abu Dhabi, United Arab Emirates (UAE) with the overarching objective of restoring confidence in the multilateral trading system and upholding WTO’s credibility in addressing economic uncertainties, as well as to chart the path towards a more equitable and sustainable global economy.
Malaysia led by MITI Minister Tengku Datuk Zafrul submitted the country’s Instrument of Acceptance (IoA) for the
Agreement on Fisheries Subsidies underscoring the country’s commitment to sustainable fishing practices on a global scale. To date, 71 WTO Members have already accepted the FSA which emphasises on the preservation of marine biodiversity and was adopted in June 2022 during the Twelfth Ministerial Conference (MC12) in Geneva, Switzerland.
In the realm of Dispute Settlement Reform, a priority issue for Malaysia and most of the members, the Ministers unanimously agreed to continue working together to address the critical issue of the appeal review mechanism by 2024.
Another noteworthy milestone was when 124 WTO Members, including Malaysia, came together to unanimously adopt the Investment Facilitation for Development (IFD) Agreement.
Zafrul noted “These decisions demonstrate the unwavering commitment of Malaysia and fellow WTO Members to finding a
resolution that is workable and acceptable to ensure a fair and effective, rules-based multilateral trading system that promotes transparency, fairness, and stability globally. The dispute settlement process, for example, is key to such aspirations within the WTO framework, and we see it as highly important in facilitating Malaysian exporters’ trade transactions globally.
At MC13, the Ministers also agreed to uphold the existing practice of not imposing customs duties on electronic transmissions, and renewed the current moratorium on the application of Non-Violation and Situation Complaints to Trade-Related Aspects of Intellectual Property Rights until the Fourteenth Ministerial Conference (MC14) which is scheduled for 2026. Through its involvement in these meetings, MITI has ensured that these agreements will help foster a conducive environment for the growth of digital trade in Malaysia, as well as provide a degree of stability and predictability in the international trade system.
The MC13 has yielded significant outcomes that resonate with Malaysia’s key priorities, including advancements in promoting inclusive and fair-trade practices, nurturing the growth of MSMEs, and addressing challenges associated with sustainable and responsible business practices. The outcomes will reinforce Malaysia’s unwavering commitment to an open, fair and rules-based trading system, contributing to a more resilient, equitable, and environmentally conscious global trade framework.
