KUALA LUMPUR: The international trade system needs urgent reforms as the world continues to witness unfair trading practices, said Prime Minister Datuk Seri Anwar Ibrahim. He highlighted that despite the presence of the World Trade Organisation, the world faces protectionist measures, and the imposition of non-tariff barriers also undermines developing nations.
According to BERNAMA News Agency, Anwar pointed out that trade no longer offers developing nations a ladder up the value chain, as export markets have become concentrated and dominated by large corporations and digital platforms. In his keynote address at the Common Action Forum (CAF) 2024 titled “Sovereignty and Fair Interdependence – The Global South and the Democratisation of Prosperity”, the prime minister reiterated that international trade must not only be free but also humane and equitable.
He further noted that the world trade is witnessing a growing technological divide that undermines progress on climate change and health security. The curr
ent intellectual property regime, originally designed to reward innovation, now imposes substantial barriers to technology transfer. Anwar stressed that a thoughtful reform of intellectual property frameworks is needed to expand access to technology while still incentivising innovation. Such a balanced approach would allow addressing shared challenges and promoting inclusive, sustainable development.
Anwar emphasized the importance of bridging this technological divide to build a world where all nations can contribute to collective prosperity. He called for a more robust and fundamentally different kind of multilateralism that requires global rules prioritizing equitable development, a genuine voice for developing nations, and strong measures against crimes against humanity. He stated, “We need inclusivity, sustainability, and justice. The multilateral system is a contested space. Powerful forces oppose progress, but the challenges confronting humanity-whether climate catastrophe or poverty-can only be solve
d collectively. No nation can do it alone.”
In concluding his address, Anwar highlighted the importance of steadfast and credible partners for Malaysia and like-minded nations in their quest to create a fairer world. He explained that this is why Malaysia has worked to forge stronger ties with champions of multilateralism, guided by a renewed foreign policy rooted in inclusion and justice. He criticized the current configuration of global governance as suboptimal and unable to meet today’s challenges. Citing facts, he mentioned that poverty reduction has stalled after the pandemic pushed 120 million people into extreme deprivation, marking the first global rise in poverty in 20 years. He warned that by 2030, 600 million may face hunger and emphasized that these outcomes are not coincidental but arise from a system not designed to be inclusive.