Kuala lumpur: The World Trade Organization (WTO) must adapt to the realities of today's international economy to remain relevant amid intensifying competition and evolving global trade dynamics, said Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani.
According to BERNAMA News Agency, Johari stated that the WTO emerged at a time when lowering trade barriers and expanding market access were widely seen as drivers of economic prosperity and international stability. However, he emphasized that policymakers today operate in a vastly different environment. He noted that the WTO must continue to serve the needs of every member country and address discriminatory trade practices wherever they arise.
Johari delivered these remarks during his keynote address at the 39th Asia-Pacific Roundtable (APR), organized by the Institute of Strategic and International Studies (ISIS) Malaysia. He further explained that economic policy today is increasingly influenced by considerations of resilience, technological leadership, strategic autonomy, and supply chain security. He pointed out that the debate has shifted from merely opening markets to how strategic capabilities should be protected, warning that the WTO risks losing its relevance if it does not evolve.
He also highlighted the importance of credible multilateral rules in a time of intensifying strategic competition, stressing the need for institutions capable of reducing uncertainty, managing disputes, and preventing economic tensions from escalating into broader geopolitical conflicts. Johari reiterated Malaysia's support for the multilateral trading system but emphasized that the system itself must evolve to remain suitable in today's rapidly changing world.
The 39th APR, themed 'Accelerating Agency and Action,' is the flagship annual international conference organized by ISIS Malaysia on behalf of the ASEAN Institutes of Strategic and International Studies network. Scheduled from June 30 to July 2, 2026, the conference gathers policymakers, diplomats, military officials, academics, business leaders, and think tank experts to discuss key geopolitical, economic, and security issues affecting the Asia-Pacific.