Kuala Lumpur: Tenkh Datuk Seri Zahrul Tenkh Abdul Aziz, Minister of Trade and Industry, said that developed and developing countries should take steps at the bilateral, regional and multilateral levels to embark on the long road to achieving long-term sustainable development. I said I had to put together a
Joint efforts by countries around the world will help address economic and social challenges and prepare for a better future, he said.
“We must redouble our efforts to make even greater progress towards achieving a new global economy premised on the principles of sustainability, inclusiveness and resilience,” he said Friday. said in a speech at the virtual Summit of Voices of the South.
The summit was hosted by India, the current chair of the G20 intergovernmental forum.
Tengku Zafrul said this year is projected to be a tougher year for the global economy as the world is still grappling with the pandemic and serious challenges. by persistent inflationary pressures and a potential slowdown or recession in some major economies.
With this in mind, the Ministers ensured that Malaysia, as a trading nation, will continue to ensure that trade and investment remain key drivers for maintaining its growth trajectory, and restore investor confidence to increase foreign direct investment. said it would continue its commitment to a rules-based multilateral trading system. .
“Malaysia will continue to constructively engage in regional and multilateral fora and actively pursue free trade agreements and economic cooperation that bring tangible benefits to participating countries.” Green Economy.
“As expectations around sustainability and the green agenda grow, Malaysia is also feeling tremendous pressure to prove its credibility in sustainability and keep them at the center of its value proposition.
“To this end, governments make a conscious commitment to balancing economic growth and environmental sustainability by synchronizing economic development with global environmental, social and governance (ESG) trends. I did,” he said.
Malaysia’s National Investment Policy, launched last year, was formulated with ESG principles at its core.
In this vein, the Ministry of International Trade and Industry (MITI) is now leading the development of a National Framework on Industrial ESG for Manufacturing, with a focus on SMEs, to help SMEs adhere to ESG principles. doing.
— Bernama
