Malaysia to strengthen legal foundations to boost trade, says Azalina
The Minister in the Prime Minister's Department (Law and Institutional Reform) said Malaysia continues to liberalise its market through initiatives such as the Johor-Singapore Special Economic Zone and strategic partnerships with the European Free Trade Association (EFTA) and China.
"Asean has made meaningful progress in eliminating intra-regional tariffs. The next step is to reduce non-tariff barriers and improve regulatory alignment to ensure seamless trade," she said in her keynote address at the SCG Legal Regional Meeting 2025 Asia and Pacific Rim, here Thursday (July 10).
Azalina said Malaysia is undertaking key legal reforms including a review of the Contracts Act 1950 and the Sale of Goods Act 1957, alongside the development of a Cross-Border Insolvency Act aligned with United Nations Commission on International Trade Law (UNCITRAL) standards.
On the digital front, Azalina said the government is drafting a comprehensive artificial intelligence (AI) law focused on ethics and governance, with the aim of supporting safe, responsible and competitive innovation.
"This initiative reflects Malaysia's proactive stance in regulating AI to ensure we keep pace with technological advancement while safeguarding public trust.
"The planned legal framework for AI complements broader reforms in governance, anti-corruption, and human rights, aimed at positioning Malaysia as a legally sound and economically vibrant nation," she added.
The SCG Legal Regional Meeting is global network of leading law firms, and bring together regional legal and business leaders to address pressing cross-border legal developments and foster strategic collaboration across Asia-Pacific. - Bernama
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