WTO Must Adapt To Current International Economic Realities — Johari Ghani

KUALA LUMPUR, June 30 (Bernama) -- 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.

Johari said WTO emerged at a time when lowering trade barriers and expanding market access were widely seen as drivers of economic prosperity and international stability, but policymakers today operate in a vastly different environment.

“The WTO must be able to adapt to the realities of today’s international economy. It must continue to serve the needs of every member country and be able to address discriminatory trade practices wherever they arise,” he said.

Johari said this in his keynote address at the 39th Asia-Pacific Roundtable (APR), organised by the Institute of Strategic and International Studies (ISIS) Malaysia here today.

According to Johari, economic policy today is increasingly influenced by considerations of resilience, technological leadership, strategic autonomy and supply chain security.

“In many respects, the debate has shifted from opening markets to how strategic capabilities should be protected. And unless it evolves, there is a genuine risk that the WTO (will) gradually lose (its) relevance,” he said.

Johari also said at a time of intensifying strategic competition, the need for credible multilateral rules has arguably never been greater.

“We need institutions capable of reducing uncertainty, managing disputes and preventing economic tensions from escalating into broader geopolitical conflict,” he said.

While Malaysia reaffirms its support for the multilateral trading system, the system itself must evolve to remain fit for purpose in today’s rapidly changing world, he said.

The 39th APR is the flagship annual international conference organised by ISIS Malaysia on behalf of the ASEAN Institutes of Strategic & International Studies network.

Themed “Accelerating Agency and Action”, the June 30-July 2, 2026 conference brings together policymakers, diplomats, military officials, academics, business leaders and think tank experts to discuss key geopolitical, economic and security issues affecting the Asia-Pacific.

— BERNAMA