Malaysia calls for updated global trade rules to harness digitalisation and AI for inclusive growth at APEC meeting in South Korea.

GYEONGJU: Malaysia has urged Asia-Pacific Economic Cooperation economies to modernise global trade rules to harness digitalisation and artificial intelligence for inclusive growth.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz called on APEC members to seize digital transformation momentum for sustainable regional growth.

He emphasised that digitalisation now forms the backbone of modern trading systems through paperless customs and digital single windows.

Technology has fundamentally reshaped cross-border trade while enhancing economic connectivity between nations.

Digitalisation must make trade faster and smarter while ensuring fairness and inclusion for all participants.

When technology combines with trust, economies do not merely grow but truly thrive according to the minister.

APEC assessments show digital trade facilitation has cut transaction costs by up to 15%.

Digital processes have shortened processing times from days to minutes while empowering small businesses.

Intra-regional digital trade now contributes an estimated $2.1 trillion to APEC economies.

Tengku Zafrul reaffirmed Malaysia’s commitment to the APEC Internet and Digital Economy Roadmap.

This roadmap strengthens cooperation in data governance, cybersecurity and digital capacity-building.

Technological progress must remain anchored in trust, inclusion and interoperability principles.

He called for modernising the World Trade Organization Trade Facilitation Agreement to reflect digital realities.

The current agreement from nearly ten years ago no longer fully addresses modern trade complexities.

Global trade today relies on systems and data that did not exist when the original agreement was written.

Modernising trade facilitation involves rewiring efficiency rather than simply rewriting existing rules.

Failure to adapt risks making current frameworks irrelevant relics of the past.

The minister highlighted critical minerals and AI as emerging gamechangers in global supply chains.

He urged WTO and APEC cooperation in establishing interoperable standards for transparency and sustainability.

Tengku Zafrul reaffirmed APEC’s role as an incubator of innovative ideas for trade development.

Pilot initiatives on paperless trade have already demonstrated tangible cost reduction benefits.

Digital facilitation improvements have enhanced compliance while empowering small businesses regionwide.

He reiterated the call for collective action to restore WTO’s global relevance and credibility.

The international trading system must remain resilient and inclusive during digital transformation.

Foreign Minister Datuk Seri Mohamad Hasan also attended the APEC Ministerial Meeting. – Bernama

 The Sun Malaysia