Malaysia to Reaffirm Commitment to Multilateral Trading System at APEC Meeting

Strategic Insights -

Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz will lead the country's delegation to the 31st Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, South Korea. The two-day meeting, starting on May 15, takes place amidst global economic uncertainty and ongoing trade tensions between various countries. Malaysia will utilize the APEC platform to reaffirm its commitment to a transparent, rules-based multilateral trading system, with the World Trade Organisation (WTO) at its core.

Key Takeaways:

  • Malaysia's delegation to the APEC MRT Meeting will be led by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz.
  • The meeting takes place at a critical juncture marked by global economic uncertainty and ongoing tariff negotiations with the United States.
  • Malaysia will reaffirm its commitment to a multilateral trading system, with the WTO at its core.
  • The country will also utilize the APEC platform to promote its thematic priorities: Connectivity through the Multilateral Trading System, AI Innovation for Trade Facilitation and Prosperity through Sustainable Trade.
  • APEC member economies have expressed collective support for the Investment Facilitation for Development (IFD) Agreement, calling for its integration into the WTO legal framework.
  • The IFD Agreement aims to improve transparency, streamline procedures, and create a more predictable environment for investors, particularly in developing economies.
  • Malaysia's participation in the IFD Agreement contributes to the Putrajaya Vision 2040's goal of delivering a transparent and predictable trade and investment environment in the Asia Pacific Region.
  • Tengku Zafrul will meet with the United States Trade Representative Jamieson Greer, WTO Director-General Dr Ngozi Okonjo-Iweala and other trade ministers to discuss trade and investment issues.
  • An Informal Ministerial Meeting on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will take place on the sidelines of the MRT meeting.

Statistics:

  • 21 member economies are represented at the APEC MRT Meeting, nearly 40% of the world's population, almost half of global trade, and over 60% of the global economy.
  • APEC accounts for nearly 40% of global trade and represents around 60% of the global economy.

Sources:

  • BERNAMA News Agency, 14 May 2025.
  • Statement by the Ministry of Investment, Trade and Industry, Malaysia.