KUCHING, Oct 1: Malaysia, with its relatively strong and robust economic performance, has the potential to contribute to the World Trade Organisation’s (WTO) agenda on economic growth and development.
According to Minister of Domestic Trade and Consumer Affairs, Dato Sri Alexander Nanta Linggi, this was discussed during a courtesy call to WTO director-general Dr Ngozi Okonko-Iweala in Geneva, Switzerland yesterday (Sept 30).
Nanta, in a Facebook post, described the meeting as fruitful and insightful.
During the meeting, Nanta shared that his ministry has been entrusted to overlook the cost of living and therefore supported Dr Iweala’s view that they have to be able to think out of the box and accomplish things, including the wide-ranging challenges such as issues pertaining to food prices.
“With the increased level of global hunger exacerbated by the Covid-19 pandemic and food security crisis looming over the world, Malaysia also welcomed WTO initiatives in ensuring adequate supply and affordable prices of essential items.
“This will assist countries like Malaysia in reducing its financial burden in subsiding essential food items for the general public. In addition, better facilitation and smooth trade flows will reduce prices of goods and thus benefit consumers,” he said.
Nanta also mentioned that it is time for Malaysia to embark on another WTO initiative which is the Joint Statement Initiative on Electronic Commerce.
“The pandemic has forced consumers to change their mode of transacting. Therefore, this electronic commerce initiative will help Malaysia regulate this sector accordingly to ensure it does not stifle the industry’s growth.
“In developing the electronic commerce environment, the Ministry through Malaysia Competition Commission (MyCC) will endeavour to conduct a market review to ensure the electronic environment remains competitive without any distortions to the online market,” he emphasised.
Nanta was accompanied by the Permanent Representative of Malaysia to the WTO, Dr Rashidi Said, during the courtesy call. — DayakDaily
