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Malaysia seeks trade legal harmonization in ASEAN
A unified framework on commercial arbitration may help enhance trade between ASEAN member states while also attracting more foreign investment, according to this year's bloc chair Malaysia, as the region faces uncertainties and tensions surrounding global trade and economy.
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A worker cleans the carpet next to a row of national flags ahead of the ASEAN Foreign Ministers' (AMM) retreat meeting at the Langkawi International Convention Centre on Malaysia's resort island of Langkawi on Jan. 17. (AFP/Mohd Rasfan)
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s this year’s ASEAN chair, Malaysia has intensified its legal diplomacy with Southeast Asian nations to establish a unified commercial arbitration framework to enhance intra-regional trade and attract foreign investments, as the region continues to grapple with escalating global trade and economic tensions.
The move, made amid disruptions in the global supply chain and the United States’ so-called “reciprocal tariff” policy, will be among Putrajaya’s priority this year, according to Malaysian Law Minister Azalina Othman Said.
“We’re trying to promote a commercial arbitration platform for all ASEAN countries to have as a common ground for other countries in doing business,” she said in an interview with The Jakarta Post in Jakarta on Thursday.
Azalina is currently on an ASEAN tour to negotiate legal trade terms with each country. She stopped by in Jakarta on Wednesday and Thursday to meet with her Indonesian counterpart Supratman Andi Agtas, as part of her mission to “strengthen cooperation on international commercial arbitration, promote ethical standards among arbitrators and promote a more integrated regional legal landscape,” according to an official statement.
Read also: ASEAN won’t retaliate to US tariffs, vows to safeguard bloc interest
In recent months, ASEAN countries have intensified their efforts to boost reciprocal trade. They have conducted multiple high-level meetings as the region finds itself among the hardest hit by the US tariff hike.
