KUALA LUMPUR, April 10 — Prime Minister Datuk Seri Anwar Ibrahim strongly believes trading countries should use the World Trade Organisation (WTO) as a platform to resolve trade issues and problems, including tariffs.
Anwar said this is Asean’s position — that the pursuit of free trade should be done through mechanisms such as the Geneva-based global trade body and not unilaterally.
“If there are some adjustments or corrections to be made, we (Asean) can always make it,” he said, alluding to the fact that even thorny issues like tariffs can be deliberated through the WTO mechanism.
Nevertheless, “we (Asean), without exception, express displeasure and disagreement with the unilateral decision by the United States” to impose tariffs, he said.
“Countries should not resort to megaphone diplomacy,” the Prime Minister told reporters at the 12th Asean Finance Ministers’ and Central Bank Governors’ Meeting here today.
Anwar, who is also Finance Minister, said the solution should be to engage more effectively as a bloc to persuade the US, an economic superpower.
“Now, prior to that we have got this sort of a reprieve (which is a) temporary one. What we need to do is enhance trade and investments and collaboration in digital and energy sectors.
“There is a need to impress upon all countries, including the US, to respect rules-based order,” he said.
Meanwhile, when delivering the closing remarks at the AFMGM, Anwar stressed the importance for Asean member states to ensure the economic fundamentals remain strong despite the sweeping US tariffs.
"At the same time, our position in Asean is to ensure that our relations, particularly with China, other than Japan, South Korea, the neighbouring countries, remain strong and formidable.
"Why? Because we protect our domestic economy.
"The understanding of the macroeconomy, the financial situation, the currency, combined with the governor and finance minister, they are the peak, the pillar in any country. With your strength, you can strongly influence," he said.
At the same time, the Prime Minister also touched on one of the priority economic deliverables (PEDs) been pushed forward at the 12th edition meeting, which is digital connnectivity as part of the digital economy.
The other two PEDs that the host also put on the tables are sustainable financing and inclusive development.
"And I think we (Asean) should come to specifics (engagement) in terms of digital connectivity, energy transition, cross-border trade as well as (to ease) customs (processes), utilising the capacity of industrial sectors where there is no point in our smaller economies competing and undercutting each other,” he said.
— Bernama
