Malaysia calls for reform of international financial system, multilateral trade
NEW YORK: Malaysia has called for reforms to international financial institutions and a more effective multilateral trading system for developing countries.
NEW YORK — Malaysia has urged reforms to international financial bodies and a stronger multilateral trade system that benefits developing nations. Foreign Minister Datuk Seri Mohamad Hasan emphasized that these countries must have a significant voice in shaping the future of these systems. In a speech at the Group of 77 and China Ministerial Meeting during the 81st United Nations General Assembly, Hasan highlighted the need for enhanced climate action, greater collaboration in science, technology, and innovation, including information and communications technology and artificial intelligence.
He stressed that any changes to the UN system should bolster its capacity to address member states' needs, particularly those of developing countries. Hasan noted that Global South cooperation demonstrates that these nations are not just recipients of development solutions but also strategic partners and contributors to global progress.
Malaysia's dedication to this cooperation is evident through the Malaysian Technical Cooperation Programme, which aims to build capacity, provide technical assistance, and facilitate the exchange of expertise among developing countries. Hasan emphasized the importance of tackling emerging challenges such as climate change, financing development, and rapid technological change without creating new disparities.
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